Research On Cross-shareholding Synergy Effect Of AnSteel Group

Cross-shareholding is a new type of corporate equity structure model in which companies hold shares in order to achieve special business objectives.This kind of shareholding model first appeared in the western developed countries represented by the United States and Japan,and played an important role in the development of the capital economy.Due to China's special economic system,cross-shareholdings appear relatively late in China.In 2017,when the SASAC arranged for the deployment of key enterprises in China's enterprise reform,it was proposed that large-scale listed companies represented by state-owned enterprises must comprehensively and effectively implement the reform of shareholding classification,practice new enterprise models,innovate diversified share reform programs,and vigorously promote the different natures of various industries.Enterprises use cross-shareholding to achieve strategic cooperation to achieve mutual benefit and win-win.China's iron and steel enterprises actively responded to the call for the reform of the national share classification,and took the lead in launching the optimization of corporate equity structure with cross-shareholding as an opportunity,and achieved good results.In this context,this paper will conduct a corresponding research and analysis on the synergistic effects of cross-holding of state-owned steel companies.This paper takes the case of the cross-shareholding representative of the steel industry in 2017,Angang Steel and China Petroleum Co.,Ltd.as a case,using the combination of traditional financial index analysis,EVA evaluation method and factor analysis method,the synergy brought by cross-shareholding The effect is explored in depth.The research shows that after cross-shareholding,Angang Steel has significantly improved its strategic positioning,management level,operational capability,financial performance and R&D innovation in the previous years.The company is at the leading level in the same industry competition at a faster development speed..In addition,cross-shareholding also made Angang's financial performance rankings steadily increase,and the overall performance has...