The Research Of Impacts Of A Public Company's Performance If It Lists In Integrity

Based on dozens of public companies that list as a whole from 2011 to 2013 in China, the research analyzes impacts on performance of public companies if they list in integrity. Financial analysis and theoretical knowledge relevant to listing companies are utilized as tools to conduct case study and empirical investigations.Research approach:1. First, to identify causes and patterns of public companies who want to list as a whole, theories and literature relevant to listing companies is studied.2. Next, the research summarizes and reviews the whole situation of overall listing companies during the period of 2011-2013 in domestic market. To conduct case study, factors such as quantity, pattern, alteration of ownership structure, changes in market value are examined.3. Changes in companies' market value before and after holistic listing will be analyzed. Specifically, for further analysis, causes that might generate these changes, for instances, premium to injected assets, ownership structure, and choice for accounting policy, etc. will be studied.4. A particular case, the overall listing of Shanghai Automotive Industry Corporation(SAIC Group), is chosen to provide deeper insight into public companies' performance after its listing.5. Ultimately, the research points out conclusions and makes suggestions.The conclusion of the research is as follows:1. In general, holistic listing plays a positive role on its performance. It also has positive effects on maximizing shareholders' profit.2. After overall listing, companies still need to accelerate the pace of internal sources integration in order to create synergies. Otherwise, it might have a negative influence on its profitability and earning quality.3. During the process of listing, proper reduction of parent companies' equity share helps to performance growth.4. Accounting treatment for business combination under common control benefits the performance of holistic listing companies. However, the value of assets injection cannot be adequately reflected on its performance.5. To regularize behaviors such as unscientific pricing method, inappropriate change of ownership structure, etc. laws and regulations should be modified and perfected, so that the interests of minority shareholders can be protected.