Shanghai-listed Company's Assets Reorganization Objectives And Performance Correlation Analysis

Capital markets play an important role in the development of shanghai. The number of shanghai local listed company is more than the other cities in china. By the end of 2003, there are 144 shanghai local listed companies in all, among which there are 138 A stock listed companies 40 B stock listed companies. The two type listed companies account for 10.72% and 32.52% of total listed companies at shanghai securities market respectively. What's more, with the advantage of quantities, shanghai local listed companies rank the first in china at capital scale, revenue and profit.Although shanghai local listed companies amount is a lot, compared horizontally or the vertically, the profit capability of shanghai local listed companies expresses ordinarily, and the position does not suit against Shanghai economy. In order to improve the performance of shanghai local listed companies, there have been carrying on a large scale of capital reorganization since 1996 with the local shanghai government supporting. Therefore, more and more experts paid closed attention to capital reorganization theory research. There are great quantities of documents on capital reorganization research. These documents is mainly concerned with reorganization motivation, reorganization model, reorganization performance and the interrelationship between them, yet research on the relationship between the performance and the target of the capital reorganization is blank space. This paper mainly works on it. On the base of capital reorganization target theory, selecting Shanghai local listed company in the field of A stock market which have happened capital reorganization, the paper take empirical study method to find out the relationship between capital reorganization target and performance. The inquirement may have useful to Shanghai local listed company's capital reorganization.The paper includes four chapters, and they discussed the following details: The introduction introduced the basic concepts of capital reorganization.Chapter one discusses the theory of capital reorganization target and Supply the relevant theory reference to shanghai local listed company.Chapter two discussed the necessary of shanghai local listed company to take capital reorganization, and analyzed shanghai local listed company's capital reorganization target in order to supply the base of next section's empirical study.Chapter three takes Shanghai local listed company in the field of A stock market which have happened capital reorganization as research object, selects some financial data to make empirical study. From the result of empirical study, we can find out the relationship between capital reorganization target and performance.Chapter four inducts the empirical study on chapter three and inquires how to improve the performance of Shanghai local listed company's capital reorganization.Finally, the paper sums up the full text.