Research On The Impact Of AVIC Aircraft Asset Injection Of The Private Placement On The Performance

Since the implementation of the split share structure reform,asset injection private placement has many advantages,such as flexible pricing,low issuance conditions and the freedom to raise funds.Therefore,it has gradually become the most popular equity refinancing mode of listed companies.China aviation industry is the first aviation industry to improve the performance of the company as a result of the first asset injection to achieve the overall listing of the company.Therefore,this paper takes AVIC aircraft as a case,based on information asymmetry theory,synergy effect theory and principal-agent theory.The study method of case study and empirical research are used to study the impact of the orientation of asset injection on enterprise performance.The excess rate of return,the cumulative excess return rate,asset liability ratio,quick ratio and other indicators of assets into the influence to the enterprise long-term and short-term operating performance of private placement after the research and analysis,found by AVIC aircraft type directional injection in the implementation of assets,AVIC aircraft business has not been improved significantly there is a problem,the poor quality of the injected assets,there are a large number of related transactions,China aviation industry group asset management focus,customer groups are relatively concentrated etc..In the future,as well asAVIC AVIC aircraft through the regulation of assessment,asset injection improved corporate governance structure,to further strengthen the capital operation of enterprises,strengthen the enterprise R&D and manufacturing capabilities and the introduction of high-quality personnel and other measures to enhance enterprise performance.