Military-industrial Enterprises As A Whole Listing Of Models And Policy Recommendations

Military is almost always the most technologically-intensive and capital-intensive industries the most. Technology-intensive means that competition is at greatest risk, capital-intensive means that the most difficult to raise financing. From an international comparative perspective, China's military-industrial groups and their military industrial enterprises, listed companies, in terms of size, profitability, industry competitiveness, operational efficiency, operating system, with the first-class military enterprises abroad, compared, there is a wide gap. At present, China's defense industry is in the asset securitization era of great change, the industry's further consolidation is inevitable. International experience shows that the operation of military industrial enterprises, is inseparable from capital markets. From the future development trend, the state regulators of policy support as well as the development needs of China's national defense capabilities, military group listed as a whole will become a trend.In this context, the overall market for the system from theory to practice, research, analysis of its national defense strength of China's military groups and to enhance the impact of the Group's overall listing of China's military to provide ideas, is a significant research topic. At present, the domestic market for the overall research is still in its early stages, there is no mature theoretical system. In view of this situation, through the CNAC integration case studies, summed up the domestic military industrial group as a whole listing of alternative means for the future defense industry consolidation and the Group's listed as a whole provide a reference.In this paper, taking a comparative analysis of research methods, focusing on theoretical analysis and empirical research combined. According to military information on listed companies to establish multiple regression model to analyze the security level and the scale, competitiveness, business efficiency relationship between the evidence of the positive effects of the overall market. At the same time for the listing of China's securities markets, the overall cases were summarized, obtained four basic models of the overall market. The use of standard analysis method, through the listing of Air China Group, as a whole the research, summed up the overall listing of the theory of the Group's overall listing of China's military to provide theoretical guidance.