Research On Value - Added Value Of Shell Company In Backdoor

With the continuous understanding the laws of the market and the increasing control ability to the capital market, the utilization of shell resource will be continuously developing and innovative for people, which is one of the most important asset merger restructuring and will bring investors more return. Even countries such as the United States, its securities market is very developed, the use of shell resources is also continuing. In China, the use of shell resource will not reduce due to the introduction of the new board. On the contrary, the introduction of three new board will further promote the utilization of shell resource.The main content of this paper consists of the following six parts:the first chapter is the introduction. Firstly, introduces the research background and the significance of the thesis; secondly, reviews the domestic and foreign literature; thirdly, introduces the content and research methods of the thesis; finally, introduces the innovation and limitations of the paper. The second chapter introduces the relevant theory of backdoor listing. Including the theoretical basis of corporate mergers and acquisitions; the meaning of the shell company and the backdoor listing; the main features of the backdoor listing; the reason of backdoor listing and the selection principle of shell company. The third chapter is the theoretical analysis of shell resources. The content includes seven aspects. The first is the analysis between shell resources and related concepts; the second part analyzes the backdoor listing market of our country in recent years, and then introduces the countermeasure of the risk associated with the backdoor listing and the measure to deal with these risks; the fifth part introduces the function of shell resource utilization.; finally, the last two parts introduce the related content of private enterprises backdoor listing. The fourth chapter is the research on value assessment model of shell resources. Mainly introduces the composition of the shell value of the company, and then introduces the various components of the value, finally, introduces the method to estimate the value of shell resources. The fifth chapter is case analysis and the analysis of value-added resources. The main content is to introduce the basic situation of Edisi and STO company, and the specific program of the backdoor listing; and then through the calculation of shell resource value before and after listing the backdoor, analyzes the case whether the value of shell resource add or not, and fatherly analyze the reasons. The last chapter is the conclusion and enlightenment.Based on the theory of backdoor listing, this paper obtains the calculating formula of shell resource value; And then combined with the real case, gets the value of shell resources occurred value-added conclusion by comparing the backdoor listing shell resource value before and after the deal. Finally, analyzes the reasons why value are added, trying to do a little meaningful exploration for backdoor listing transactions.