Research On The Performance Of Y Company’s Asset Reorganization

The trend of economic globalization makes the automobile manufacturing industry face the competition,but also has the opportunity of development.In recent years,Chinese automobile industry develops rapidly from vehicle to parts.More and more automobile enterprises have independent property rights,the automobile technology level is constantly improving,the output and sales rank among the top in the world,and become the world’s largest automobile market.In this context,the study of asset reorganization of automobile enterprises will provide a reference for enterprises in the same industry to deal with the complex and changeable market environment.This paper takes Company Y as the research object,and on the basis of synergistic effect theory,transaction cost theory and information and signal transmission theory,uses event study method and principal component analysis method to carry out in-depth analysis of motivation analysis and performance analysis of Company Y’s asset reorganization.First of all,this paper introduces the industry characteristics and industry background of the automobile industry,on this basis,introduces the basic situation of the restructuring parties and the restructuring process;Secondly,this paper analyzes the necessity of asset reorganization from the aspects of slowing down the growth rate of automobile business,entry barriers of automobile industry,and horizontal competition of Y Company.Thirdly,this paper analyzes the performance before and after the asset reorganization from multiple perspectives,using the event study method to analyze the short-term market reaction,using the principal component analysis method to analyze the long-term market reaction of Y Company’s asset reorganization.The analysis shows that the improvement of performance is mainly reflected in the introduction of new resources with strong development momentum and the integration of new resources and old resources.Finally,this paper summarizes the full text and draws the conclusion of the case analysis of Y Company’s asset reorganization.The asset reorganization brings positive short-term performance to Y Company,the impact of asset reorganization on Y company’s long-term performance is uncertain,and the asset reorganization improves the operating efficiency of Y company.Further,this paper puts forward two suggestions.First,enterprises should choose merger and acquisition methods carefully.To avoid taking up too much capital,resulting in the risk of debt after asset restructuring.In the process of merger and acquisition,enterprises should monitor their capital position and pay special attention to whether the solvency ratio is lower than a certain threshold.Second,use the resources after the merger flexibly.In order to avoid the deterioration of the performance of the enterprise after the merger,the resources after the merger should be flexibly integrated with the original resources of the enterprise,give full play to the advantages of the enterprise after the merger,at the same time innovate products,increase the core competitive products of the enterprise,adjust the business strategy of the enterprise properly,so as to make the profit of the enterprise continue to increase.