Research On The Choice Of Regression Path Of China Stock Exchange

Because many private enterprises had failed to list in China in the past year and wanted to raise funds quickly,they chose to list in the overseas market,including many of best Internet companies called "China Concept Stock".However,Chinese enterprises are often short by professional short-sellers abroad,and the low market value of stock prices is seriously underestimated,which results in financing difficulties and is not conducive to the sustainable development of enterprises.Compared with the sluggish situation of China's stock market abroad,the domestic capital market environment has been significantly improved,and the stock market is in good condition,attracting a large number of companies who want to return to China's stock market.With the support of domestic policies for the development of Internet enterprises in recent years,the domestic economy is in a better form and the listing conditions are easier than in previous years.At present,more and more medium-sized companies want to return to A-share market,which has formed a hot wave of medium-sized shares return.From the perspective of market timing,this paper combines the life cycle theory and the pecking order financing theory to study the return path selection of stock approximation.Through the case analysis of Qihu 360,this paper analyses the motive of privatization delisting and the choice of privatization path,considers the choice of return path from two aspects of self-condition and external market environment,and evaluates the return of Qihu 360 under market opportunity combined with the performance after the return.Qihu 360 is the first China stock to return to China's stock market two years after the first wave of China stock return.The return of Qihu 360 has a certain symbolic significance,which can provide reference and guidance for China stock of the four new enterprises returned after the first wave of China stock return.On the one hand,the company chooses to return to China's stock market based on the pursuit of high valuation,on the other hand,it also takes into account the development strategy of the enterprise.The advantage of high valuation enables Qihu 360 to carry out reverse China's stock market with lower cost in the choice of regression mode,which is the best path among several regression modes Qihu 360 can choose.On this basis,combined with the performance of the company's stock price and financial performance to evaluate the important value of the return time for the company to return to A shares.Finally,the conclusion and Enlightenment part of this paper summarizes the path selection of Qihu 360's regression process,and extends to the path selection of other stock approximation regression,and draws a universal conclusion.Then,according to the conclusions drawn,the paper puts forward relevant suggestions for the returning entities such as China Stock Exchange and Supervisory Authority.