Study On The Motivation And Effect Of Poly Real Estate Spin Off Listing

With the development of the global economy,many enterprises are striving to become advanced enterprises with international competitiveness with the goal of becoming bigger and stronger.At the beginning,in order to expand the scale of the enterprise to meet the changes in market demand,establishing a diversified business model of the enterprise has also become the only way for most enterprises to operate and develop.However,with the implementation of production and operation activities and the gradual increase of business types driven by the new market environment,The enterprise resource distribution is uneven,the enterprise can not concentrate on improving the core business competitive power and so on negative influence.The worst result in the long run is that companies cannot highlight their advantages in market competition and ultimately survive the fittest.Therefore,since the 21 st century,companies have also begun to tend to integrate business sectors in order to improve their core competitiveness.Spin-off and listing,as one of the representative methods of asset reorganization,has been widely used in foreign capital markets since it originated in the United States.With the development and improvement of my country’s capital market,my country’s enterprises have begun to show a lot of favor for this asset reorganization method.The spin-off and listing can also be said to be timely to cater to the needs of market development.In addition,the spin-off and listing can realize a more reasonable distribution of market resources,improve the efficiency of enterprise diversification and promote the realization of enterprise value creation.it has been proved that the spin-off and listing can realize a more reasonable distribution of market resources,improve the efficiency of enterprise diversification and promote the realization of enterprise value creation.In recent years,as domestic real estate has entered the era of stock,property management services have entered the blue ocean field.Many real estate companies have also begun to consider the way of spin-off and listing to enable the parent company to focus more on the core business,while the subsidiaries can also take advantage of market forces to have a good development.Poly Real Estate,as the "big brother" of the central enterprises in the real estate industry,has also followed the pace of spin-off after the spin-off of Country Garden and Evergrande,and is also the same as the previous spin-off companies and most real estate companies in the spin-off business segment.selection is consistent.Taking Poly Real Estate’s spin-off of Poly Property as a research case,First of all,this paper reviews and summarizes the literature on the connotation of spin-off,the related theories of spin-off motivation,and the ways in which spin-off affects corporate performance.Secondly,on the basis of summarizing the theory,this paper analyzes Poly Real Estate’s spin-off mode,the choice of spin-off location and the motivation of spin-off.Finally,through the analysis of the impact of the split,the impact of split and quotation on the performance is analyzed.On the one hand,the event study method is used to analyze the short-term earnings of the parent-subsidiary company’s stock price split listing.On the other hand,using the entropy method,through calculating the influence degree of each index and the specific changes of the index,this paper analyzes whether the spin-off listing has a positive or negative impact on the performance of parent-subsidiary companies,and finally summarizes the conclusion according to the analysis results,and puts forward the problems that other similar industry companies should pay attention to in the process of spin-off listing of Poly Real Estate.