| Divestitures are the important way of asset reorganization.In recent years,with the continuous development of market economy,the using of divestitures is more frequently in our capital market.Suitable and scenically divestitures can make the listed companies release the burden of bad assets or non-operating assets.Therefore,divestiture is not necessarily a sign of company's business failure;it is the company's choice of "Exit Strategy".Therefore,based on the research of degree of market competition,the article researches on the relationship of market competition and divestitures,the effect which divestitures to business performance,and the comprehensive influences between market competition,divestitures and business performance.The article's main researching process includes below parts:The first part is introduction,introduces the research background,research significance,research methods and innovations.The second part is the theoretical basis and literature review.This part introduces the related literature of divestitures and market competition,and the research results of divestitures and company performance.Through the reviewing of predecessor's research method and results,lay a good foundation for the following parts.The third part is present situation of divestiture and research hypothesis.This part introduces the current situation and existing problem of divestiture firstly and then discusses the relationships of market competition,divestiture and business performance,which lay the function of next part of the paper.The forth part is the empirical research.By using descriptive statistics method,principal component analysis and multiple regression analysis,we research the relationship of market competition,divestitures and company performance.The last part is suggestions.This part summarizes the full text research,reflects the defeat and deficiencies in the process,and provides suggestions for listed companies. |
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