Study On The Capital Operation Of Tourism Listed Companies In China

Capital operation is the management activities about capital and its operation, whose purpose is to add value to a maximum. The introduction of the new operation idea does great help to improve the capital structure of Chinese tourism enterprises, and to realize the best economic benefits, disposition of resourses and capital increment. But due to the misunderstanding and the false application of capital operation, the tourism enterprises have not obtained the aforementioned objectives. It is necessary to study the capital operation of them.As the leadership of Chinese tourism enterprises, the tourism listed companies have deeper comprehension and more extensive application of capital operation than others. So the study on them is very important and typical to all of the tourism enterprises. The structure of the paper is the following:1. There are three sections in this preface: research background and study purpose, contemporary progress of the subject and technical approach. After the brief introduction to the necessity of the capital operation and to the contemporary condition in scattered literature, the author emphasizes that this study is very important to improve the theory about capital operation and to direct the enterprises in practice.2. The summary about the theory of capital operation is the basic knowledge to the study of tourism listed companies. On the basis of complete understanding of the theory about capital operation, the author not only develops the catogary of capital but also summarizes the main factions and its importance to tourism.3. The third part of the paper is the analysis about the condition of capital operation of Chinese tourism listed companies. According to the normal classification rule and the data about the annual reports of these companies, there are 22 tourism listed companies in China in this paper. The paper gives a brief introduction to the development survey capital operation of these companies. And the paper mainly analyze some false activities and ideas about capital operation of these tourism listed companies.4. This part is the evaluation and analysis about the whole effects on the capital operation of the tourism listed companies. The author of the paper uses the model to evaluate comprehensively the performance of the companies, these consequences can reflect the whole effects on capital operation in the long run. The analysis of performance is not only a summary about the operation condition of the preceding text and the foundation of some false operations, but also is the basis of the analysis in the following text.5. The analysis of the case is the typical study on capital operation of Chinese tuorism listed companies. Of all these companies, it is assured that CYTS is the model of other tourism enterprises in the capital operation. As a matter of course, the fast expansion of CYTS owe to the rightly and deeply understanding about the capital operation and its scientific operations.6. The last part is the conclusions of the study and the proposals provided by the author. After the analysis of the current condition, the main false ideas and the whole management effects of capital operation, three conclusions are reached:First of all, the operators should have a sound grip of the intension of capital operation. It is the basis of highly effective capital operation to be clear about the catogary of capital; the basic position of products operation and the uity of capital operation and products operation should be emphasized; capital operation have the characters of distinguishing, sustainment and of flexible applying. And the effect of the arangeing capital should be paid attention to. In the second place, be sure to use rightly the strategy of capital operation: choose the expansion stragegy of the combination of internal management and external dealing; strengthen the infiltration of industrial capital and finacial capital; regard capital operation as the centre of managements in enterprises to promote the common development of strong enterprises...