Performance Analysis Of Listed Companies Through Private Placement To Achieve The Ooerall Listing

Our initial capital market is not perfect because of its own physical limits on the amount,supervision departments to take the examination and approval system and quota system combined with the norms of the enterprise market,resulting in some poor profitability of enterprises in order to achieve the relevant requirements of the regulatory authorities for profit,split part quality assets listed.However,with the continuous development of China's securities market and norms,the drawbacks of the spin off listing also continue to appear.Because of the similar scope of operation between the group company and the listed company,it is easy to produce the problem of competition in the industry,thus reducing the efficiency of resource allocation.In addition,the relationship between group company and listed companies will lead to the existence of a large number of illegal guarantee and related transactions between each other and occupation of funds and other issues,the listed companies lost autonomy and independence,damage the interests of small shareholders.In the long run,the model of spin off listing has seriously affected the healthy development of the capital market.Since 2004,the overall listing of the group as a model of institutional innovation in China's securities market is gradually becoming one of the important ways to solve the problem of spin off listing.After the split share structure reform,the major shareholders have lifted the limitation of the liquidity of the stock,and the stock premium of the two market has become the driving force of the whole listing.In addition,China Securities Regulatory Commission,the SASAC and other regulatory authorities issued a large number of relevant laws and regulations and policies to promote the overall listing of enterprises,but also to make this model in China's capital market set off a boom.In this paper,the theoretical analysis and case study on the M & a performance of listed companies' private placement.Firstly,this paper defines the concept of the overall listing of private placement,summarizes the relevant theories.Then the Chu Jiang new material overall market as an example,using the event study method and accounting research method on the market performance and financial performance are analyzed,to explore the overall influence of listed causes of Chu Jiang new material performance,and to evaluate the overall listing of Chu Jiang new material,put forward the whole significance of Chu Jiang new material market.Finally,the summary of the full text of the study,and for the lack of this paper,for the follow-up study of the relevant scholars to provide recommendations.