The Research On The Behavior Of Utilizing Shell Resource Of Listed Company In China

With the development of economy, entering the stock market for company is an important way to go on developing. In stock market ,the listed company can obtain long-term capital with low cost. Limited with the stock scale, some strong companies can only go to secondary market to share and hold the listed company by the way of buying ,annexing, asset-transferring so as to entering the stock market.Under the background of especial stock issuing system in China , the listed company has much more advantages than unlisted company. However it is difficult to come into stock market of corporation because of capacity limit. So the listed company possesses some resource with profitability and rarity-shell resource. Generally, it is possible to utilize the shell resource if the listed company exists. In American, back door listing is an important form of regrouping for a long time. Under this situation, we should understand the reason the shell resource exist, the reason the listed company sells the shell and the influence factor of bargaining, ect. So this paper will deal with these problems.This paper catches the unlisted company merging the listed company as research object. The behavior of utilizing shell resource is an especial M&A, it has some characters in some fields such as motivity and participator. The utilizing shell resource will accomplish through back door listing. Most of enterprise entering the stock market through buying shell are those who develop quickly and are in a status of high-speed expandedness. They need the capital to expand capacity and exploit market. This phenomenon is prominent especially among the privately owned companies recently. In my thesis, I have discussed the forming, classifying, characters and actuality of shell resource of the stock market in our nation, also systematically analyzed the price of bargaining and the influence factors, in a detail analyzed its movitity and choose of utilizing shell resource, actively thought of and research the efficiency and the shareholder's fortune. At last, on the basis of the theoretical analysis this paper put forward some suggestions in three arrangements.