| In recent years,,with the development and improvement of China's capital market,asset restructuring has become an important means to optimize capital structure and improve operational efficiency of enterprises,most state-owned enterprises clear the direction of the development of the main business and enhance the overall competitive strength through asset restructuring,so as to realize the development goal of restructuring and listing.But there is such a phenomenon:business performance increased in the first year after the reorganization,the second year performance began to decline significantly.Firstly,this paper expounds the basic theory of enterprise assets reorganization through the literature review of the research on the motivation and performance of enterprise restructuring.On this basis,according to the actual situation of MH company's asset restructuring,this paper studies the effect of asset reorganization on the performance of enterprises which meet the IPO qualification.In order to avoid a single indicator can not fully reflect the status of enterprise management,this paper selects a number of financial indicators to measure the performance of enterprises,and using principal component analysis method to construct a model of synthetic achievement of financial index.Research results show that the reorganization of assets has a positive role in improving the performance of MH company,but the company's operating performance began to decline significantly in the first year after the completion of the restructuring,this shows that MH's operating conditions have not been substantially improved.There are many reasons for this phenomenon,in addition to the impact of the industry environment,the MH company itself also has some problems.In this paper,we put forward some relevant suggestions on the effective integration of the assets after the reorganization,reducing associated transaction and playing the advantages of the enterprise after the reorganization etc. |
PDF Full Text Request