Analysis Of Causes And Consequences Of Assets Replacement In Shougang

At present,China's economic development has entered a "new normal" and economic restructuring has entered a deep-water zone.The CPC Central Committee has proposed to comprehensively deepen the reform of state-owned enterprises and promote the optimization and reorganization of state-owned capital.Iron and steel industry has always been the basic industry in China,which occupies an important position in the process of social industrialization.In order to keep up with the development of The Times demand,to achieve the optimal allocation of resources,Beijing shougang co.,LTD(hereinafter referred to as the shougang shares)and its controlling shareholder China shougang group co.,LTD.(hereinafter referred to as the shougang group)for asset replacement,shougang shares will held by Beijing automotive domestic capital stocks and shougang group holdings of Beijing shougang steel trade investment management co.,LTD.,equity for replacement,It not only solves the competition in the same industry,but also provides strong support for the transformation of high-end manufacturing with the injected high-quality assets.By analyzing the motivation of asset replacement and the consequences of asset replacement,this thesis provides a direction for the transformation of the iron and steel industry,and also provides a reference for the development of the reform of state-owned enterprises.In this thesis,the model of case analysis is adopted.First of all,on the basis of the relevant background and significance,the necessity of research is clarified,and the motivation and consequences of asset replacement are sorted out by combining the existing domestic and foreign literature.Then briefly introduces the definition,characteristics and related concepts of theoretical basis of asset replacement in the theoretical part.Then,taking Shougang Stock Asset Replacement as the research object,this thesis introduces the basic situation of the two parties to the replacement,analyzes the motivation of the asset replacement,and summarizes the process of the replacement.Then through financial index method and event study from financial performance,corporate governance,the Angle of industry layout,the development prospect of the displacement to evaluate a series of consequences,according to the company's share price and the change of financial indicators,the recognition of the current domestic market for asset replacement is higher,the asset replacement for shougang shares in the long-term development to promote the role of the conclusion.Finally,this thesis puts forward the corresponding suggestions for the risk of integration after the replacement of Shougang shares.According to the analysis of the case study,the case and the whole steel industry,the asset replacement is undoubtedly in line with the development of The Times,in line with the needs of both sides to optimize the allocation of resources of a successful case.But after the replacement of resources integration,improve their own internal management ability is also important,in order to further rational use of all kinds of resources,to achieve leapfrog development of the company.