Study On The Impact Of Neusoft Group's Holistic Listing On Performance

In China,the holistic listing is initially seen as an important means of solving the problems caused by the spin-off.And then with the overall market development,now it has become a new development trend.Many listed companies intend to achieve through the overall market to improve the company's operating efficiency,the company's overall competitiveness and performance purposes.In 2007,the Neusoft began to plan holistic listing of all the group,which is one of the early implementation of holistic listing companies in China.The company's industry not only for the software and information technology services,but also focus on supporting the development of China's industry.Neusoft is in the software and information technology services industry rapid development period choose to implement the overall market,so as to further expand the scale of enterprises,and occupies a leading position in the industry.Based on the previous scholars' research results,this paper studies the holistic listing of Neusoft as the research object,and studies the impact of the overall listing on the company's short-term performance and long-term performance,and analyzes the effect of the overall listing effect on the performance.The paper adopts the method of combining theoretical analysis with case analysis.On the basis of introducing the concept of holistic listing,this paper analyzes the impact of the holistic listing on the company performance from the three aspects of the influence of the related transaction,the influence on the competition and the influence on the ownership structure,and introduces the short-and long-term performance Affect the two methods.First of all,the case studies section briefly describes the basic situation of Neusoft Group,the overall market and its trading scheme,listed model and motivation for analysis.Secondly,the paper analyzes the short-term impact of the holistic listing on the performance of the company through the short-term event research method.Through the event study method and the factor analysis method,the paper analyzes the long-term impact of the holistic listing on the company's performance.The study found:1)The holistic listing does create wealth for shareholders;2)It will help improve the company's overall competitiveness and industry status;3)It helps to weaken horizontal competition and reduce inappropriate connected transactions.Through the analysis of two kinds of analysis methods,we can analyze the effect of Neusoft Group's holistic listing on corporate performance is positive or negative.Thirdly,the paper analyzes the effect path of the holistic listing on the performance of Neusoft Group.It is found that the holistic listing can affect the performance of the company by weakening the horizontal competition,reducing the improperly related transactions and optimizing the ownership structure.Finally,the paper puts forward three suggestions on the management of the company.The company management staff should be a reasonable choice to the overall market timing;in the implementation of the overall market,should continue to focus on and adjust the integration of corporate resources;in the completion of the overall listing,the company still need to pay attention to it's associated transactions,improve the survival of corporate governance.The paper not only complements the research of Chinese scholars in this field,but also for the implementation of the holistic listing of the company and as well as the development of the holistic listing policy of the government and the relevant departments to provide a reference for the role.