Study On The Motivation And Performance Of State-owned Enterprises’ Overall Listing

With the rapid development of the market economy in our country,the reform of state-owned sole proprietorship enterprises has become a hot spot.Many enterprises have enhanced their core competitiveness and economic strength through the reform of management mechanisms.During the reform process,the company did not meet the listing requirements due to some asset quality reasons,and therefore chose to split the listing.As the drawbacks of splitting and listing become increasingly apparent,such as the encroachment on the rights and interests of small and medium-sized shareholders and related transactions,the company has started to implement an overall listing plan that is in line with its own development.In previous years,the listing cases such as Wuhan Iron and Steel Group provided a route for the overall listing of the company.With reference.At the same time,national policies continue to support the overall listing of companies,and state-owned enterprises have made the overall listing of unlisted assets a hot spot in the market.Therefore,this article selects the overall listing as the research object and selects China Power Construction as a case to study the motivation and performance of the overall listing of China Power Construction Corporation and improve the overall listing theory.This article is mainly divided into six parts.The first chapter is the introduction,expounds the research background and the significance of the topic,the research content and innovation points.The second chapter is the literature review,which introduces the theoretical overview of the overall listing and corporate value.The third chapter introduces the overall listing background and plan of China Power Construction.The fourth part is the analysis of the reasons for the overall listing of China Power Construction Corporation and the realization of the situation,mainly from the five perspectives of equity structure,related party transactions,and scale effects.The fifth chapter is a case study of China Power Construction Corporation.The performance evaluation of China National Electric Power Construction Co.,Ltd.was conducted using the traditional indicators,DuPont evaluation system and DEA model.Chapter 6 summarizes the cases and proposes policy recommendations.Through the collection and arrangement of documentary data,enterprises can adjust the ownership structure through the overall listing,reduce associated transactions,and achieve economies of scale.However,through the analysis of the overall listing performance of China Power Construction Corporation,it is shown that the overall reorganization and listing of the Group does not have a positive impact on the operating efficiency of the company,but it has a certain negative impact in some aspects.It should also be noted that there are also risks in the overall listing of the company.The short-term effect is obvious,and the long-term effects need to be further studied.