| With the increasingly fierce market competition,in order to better integrate into the global economy and enhance China’s strategic investor team,the relevant parties of the state actively encourage domestic banks to introduce foreign outstanding investors,and formulate corresponding policies to encourage excellent overseas investment institutions to combine with domestic enterprises in various ways in shareholding business.At the same time,many listed companies,in order to activate their market,so as to enhance their market competitiveness,they will support the development of the company by introducing strategic investors,so as to bring new production technology,financial support,management mode,new field product development,corporate governance,etc.to the company.With the increasing popularity of strategic investors in China,China’s regulatory authorities have also issued a series of regulations on the introduction of strategic investors,in order to standardize the introduction process of Chinese enterprises from the perspective of supervision,so as to improve the efficiency of the introduction of enterprises.This paper selects listed companies in China’s liquor industry as the research object,because there are many successful cases of listed companies in China’s liquor industry to introduce strategic investors,which are representative in the process of restructuring state-owned enterprises.This paper uses literature research method,case analysis method,comparative analysis method and financial index analysis method to analyze and study the motivation and performance of listed companies in the liquor industry to introduce strategic investors,and it can be more clearly seen the impact of introducing strategic investors on the performance of listed companies.On this basis,the financial performance and non-financial performance of enterprises before and after the introduction of strategic investors are compared,which can intuitively and fully reflect the role of strategic investors on the performance of listed companies in the liquor industry.The comprehensive research results show that the introduction of strategic investors is helpful to listed companies at the strategic,operational and management levels,and helps to enhance the industry status of listed companies and strengthen the internal motivation of enterprise development.However,when introducing strategic investors,we must not blindly follow suit,but should start from the successful experience of foreign introduction,and combine our own actual situation to formulate corresponding strategic cooperation plans.This paper aims to make useful explorations for the development of China’s liquor industry through the research on the introduction of strategic investors by listed liquor companies in China,and also to play some reference roles for the introduction and strategic investment of other industries. |