Research On Motivation And Effect Of Perfect World’s Return To A-shares

In the early 1990 s,China’s capital market sprouted.Many enterprises choose to go abroad and finance in overseas capital markets,such as the United States,in the context of globalization.and the industry called these corporate stocks Chinese stocks.However,since2010,many Chinese stocks have been shorted,and the stock price has continued to be sluggish,It is reported that since 2012,more and more Chinese general shares have entered the privatization stage.At the same time,in order to return to the A-share market,overseas markets have been delisted.regression is the best transformation opportunity so it is worth exploring the motivation for the return of Chinese stocks and the changes in financial performance after the return.Perfect World is China’s first online gaming company to operate overseas,Taking the Perfect World as an example,this paper comprehensively analyzes the problems of concept stocks and domestic A-shares.The conclusions of this paper are of certain reference value to the development of China’s capital market and the overseas listing of enterprises.First of all,this paper explains the significance and background of this research,regression trend and regression method of Chinese stocks,and then sorts out the transaction cost theory,Mainly used two theories,the first is the theory of enterprise value evaluation,the second is the theory of signal transmission,and comprehensively understood the existing theoretical basis and concepts.On this basis,the case study method is comprehensively used to explain the privatization and related parties of the enterprise.demolition of VIE structure,backdoor return and reorganization with related parties.From the perspective of the perfect world,this paper analyzes the reasons for the privatization,delisting and return to A-share.In this paper,the author believes that this aspect is based on the fact that the perfect world really needs to upgrade and transform,and the domestic policies are good,meeting the needs of enterprise development.On the other hand,enterprises faced low market valuation in overseas markets and were hunted by short sellers.this thesis believes that the change of strategy after the return of Perfect World has enabled the company to achieve good financial performance and market performance,thus verifying the correctness of its choice of return from a strategic perspective.However,companies with high growth and good operating conditions have gradually become the listing resources competing for by major exchanges,In the future,China’s capital market will welcome the return of China Concept Shares.In this context,this paper believes that enterprises should make scientific decisions based on their own industry,their own situation and development trend.remember to blindly follow the trend;Second,Chinese-listed enterprises need to arrange a reasonable return plan in detail after privatization;Finally,it is necessary to improve the market services of regulators,enhance regulatory flexibility,and propose to implement classified supervision.