A Study On The Motivation And Economic Effect Of Real Estate Enterprises Listing Their Properties

The 19th National Congress of the Communist Party of China reaffirmed the basic positioning of "house is for living,not for speculation",showing that the main tone of this round of real estate regulation is still continuing.On the one hand,efforts were made to crack down on the demand for speculative speculation and maintain the stability of the real estate market.On the other hand,we will actively support residents’ demand for self-use and improved housing.According to the report to the 19th National Congress of the Communist Party of China,we will"accelerate the establishment of a housing system featuring multiple sources of supply,multiple channels of support,and simultaneous encouragement of both rental and purchase" to ensure housing for all the people.The 19th National Congress also highlighted support for property service enterprises,which is also an important measure to improve people’s livelihood.As a way of enterprise reorganization,spin-off listing can not only bring huge funds to parent and subsidiary companies,but also help them improve their business and management level and achieve strategic transformation.However,there are some risks behind the spin-off,such as long-term market effect fatigue,spin-off subsidiaries can not get rid of the parent company dependence and so on.In recent years,due to the transformation of the real estate company development needs,more and more real estate listed companies choose to spin-off subsidiary,it,development of property sector is a new choice for the many real estate companies,therefore this article through the analysis of agile split the case of life to explore the motivation of listed real estate spin-off property path and economic effect has a certain practical significance.Based on information asymmetry theory,financing strategy theory and core strategy theory,this paper systematically collates relevant data and makes research comments.In the theoretical basis part,this paper expounds that spin-off is beneficial to improve the understanding of the outside world to the enterprise,to raise funds quickly,and to professional operation.Through the way of case study,this paper analyzes the motivation and effect of the listing of real estate spin-off.Based on the event study method and financial indicators,the effect is measured.The results show that spin-off and listing can help Agile improve its financial performance,broaden financing channels,improve business level and optimize management level,but has no positive effect on agile’s market share price effect.The listing of Agile Life has brought many positive effects to the company.The first is the most direct effect,which raised a large amount of funds to meet the needs of enterprise development.Secondly,the improvement of business level,which is reflected in the synergistic effect with Agile and the improvement of performance after the acquisition;Finally,the improvement of management level,application of management platform and optimization of management structure have greatly improved the efficiency of the company.