Analysis And Evaluation Of The Effect Of The Spin-off And Listing Of Shanshan Co.,ltd.

In recent years,the diversification strategies of some companies have encountered development bottlenecks.Due to the uneven allocation of resources,the decline in resource utilization efficiency,and the limited financing,the negative synergy effect brought by development continues to deepen,leading to the phenomenon of "diversified discounts".In order to enhance corporate value,spin-off and listing has become a means for diversified companies to improve their operating conditions and achieve value appreciation,and has received extensive attention from academia.The existing literature mostly focuses on the motivation and effect analysis,and pays less attention to the mechanism and realization path of the spin-off and listing effect,which affects the practical application value and promotion value of the research conclusion to a certain extent.The research of this article pays more attention to the related process and influence mechanism of spin-off and listing,and the research results can provide reference for similar case studies and applications.On the basis of the existing literature research,the paper raises the following questions:What are the effects of the spin-off? What are the influence mechanisms of these effects?How to achieve or implement? What is the effect of the spin-off and listing? This article focuses on theoretical analysis of these issues.In the case study,Shanshan Co.,Ltd.was used as the research object to reveal the effect of the spin-off and its influence mechanism,summarize its experience and enlightenment,and provide similar and extendable experience for similar cases.The article first is a review and summary of the relevant literature and theoretical basis,and puts forward a theoretical framework for the analysis of the spin-off effect.Secondly,based on the basic situation of the case company,analyze the selected cases from the research ideas of what effect the spin-off and listing have,how the spin-off and listing have effects,and the evaluation of the results.The final conclusions of the paper are:in terms of financing effects,the spin-off and listing has established new financing channels for subsidiaries,strengthened independent financing capabilities for high-quality businesses,optimized capital structure,and enhanced long-term and short-term debt solvency;in terms of operating effects,Spin-off and listing can clarify business segments,focus on long-term strategies,promote professional operation,and improve decision-making efficiency;in terms of governance effects,spin-off and listing optimizes the governance mechanism,supervision mechanism,and agency mechanism.The research results show that the spin-off and listing has improved the company’s operating performance and strengthened its market influence.Based on the value enhancement goals of diversified enterprises,the paper constructs a theoretical framework for the analysis of spin-off and listing effects.This research idea enriches the research perspective of spin-off and listing.In the above theoretical framework,the research on spin-off and listing should not only focus on its motivation and effects,but also focus on the mechanism of action and its realization path.