Study On The Case Of Roshow Technology Incorporated's Related Acquisition For Shunyu Company At A Premium

In our country,the phenomenon is quiet common that public companies always transfer interests through correlation acquisition,but there is little literature on the study in combination of the benefit transfer and related transaction,especially lacking in specific case analysis in the practical application of the theory of financial and economy,for the sake of exploring the law of development behind,and put forward the realistic improvement strategy combined with case studies,perfecting the related theory in turn.This paper takes the tunneling as research subject,initially studies on the identify clues of "profits transfer",then comparatively analyzing the relevant financial indicators,stock value,etc.before and after the acquisition.Next,it is going to conclude the negative outcomes for companies concerning related acquisition,then further explore the internal and external reasons why the means could take effect.Lastly,it will offer effective countermeasures and suggestions based on the above reasons.This paper is divided into six chapters:chapter 1,introduction;Chapter 2,the theory and cause analysis of related acquisition;Chapter 3:the case overview;Chapter 4,the analysis of the benefit transmission behind the related acquisition of Roshow technology incorporated's premium related acquisition;Chapter 5,the analysis of the reasons for the benefits transmission of Roshow technology incorporated through the premium associated acquisition;Chapter 6,the countermeasure analysis of the benefits transmission behavior by means of related party transaction.Chapter 4 is the key part of this paper.This part initially identifies the clues of interests transmission according to the information provided by the case,then conducts qualitative and quantitative analysis to conclude the specific consequences of the event:the first and second sections focus on the impacts on the acquirer,making comparative analysis of the financial indicators change from the perspective of financial risk,debt financing status,enterprise value,etc.before and after the acquisition,summarizing the irrationality of the related transaction;The third section starts from the stock value and analyzes the harm to minority shareholders of the related transaction combined with the assumption of information asymmetry.Based on the current legal norms,section 4 studies the adverse effects of the fraudulent and unfair related party transactions on the development of the capital market when the information disclosure is incomplete.The main contribution of this paper is:it makes detailed analysis of the interest transmission from the perspective of the unfair related acquisition behaviour for the first time,combined with the loopholes of current legal supervision.The paper takes the acting path of behavior,consequences,causes and countermeasures" as the research orientation,and further explains the driving force,the process of behavior,the economic consequences and the constraints of governance by the case analysis.It offers considerable reference about how to avoid fraudulent transactions behavior in China securities market to a great extent.