A Study On The Performance Of Enterprise Group's Overall Listing

The overall listing of Chinese capital market is an unique phenomenon,which is opposite to spin-off listing.In the start stage of Chinese capital marketing,the enterprise group usually used spin-off listing because of weak strength.With the development of the market,more and more groups start to use overall listing and subject to social concern.Being a kind of financial innovation,overall listing could decrease related party transactions and industry competition,and improve corporate governance to improve the business performance,playing the positive role to the development of capital market.Therefore,the paper selects the overall listing of Greenland Group case to analysis if the overall listing could improve the performance.On the basis of reading lots of literature,the paper does the literature review of the concept,mode,significance,and the influence of performance of the overall listing.At the part of text,the paper firstly defines the concept,and introduce the governance and the methods of analyzing business performance,and does the theoretical analysis to the influence overall listing to the business performance with related theories,like transaction cost theory,scale effect theory,corporate boundary theory and market validity hypothesis.In the case study,the paper firstly introduces the basic situation of the assets reorganization and the purpose and operation plan of the whole listing.Then,referring to the corporate governance index,the event research method and the financial index analysis method,does the calculation and analysis to corporate governance performance,marketing performance and financial performance of the Greenland overall listing case.The study shows that the overall listing can bring about the improvement and optimization of corporate governance.The short-term effect on market performance is obvious,and the positive effect of shareholder wealth has positive effect on financial performance.However,it is still necessary to pay attention to the latter's resource integration Synergistic effect.Finally,the paper makes revelations and suggestions from the enterprise itself,investors and regulators.