Research On The Motivation And Effect Of Offcn Education

China’s economic development has entered a new normal,which calls for greater efforts to unleash the potential drivers of economic growth.In this case,incentives and structural changes in employment at the policy level appear to be very important.The state has successively issued a number of policies to support the vocational education industry,and the continuous release of favorable policies will inevitably attract more potential participants.Vocational education enterprises are also increasingly requiring listing for financing.At present,IPO or backdoor listing can be adopted,but under the gradual improvement of the capital market system and structure with direct financing as the main way,backdoor listing has become a quick channel for small and medium-sized vocational education enterprises to enter the market.This paper studies the backdoor listing case of Offcn Education,a vocational education enterprise.First of all,the macro background of the backdoor listing of Offcn Education is introduced,and the listing process is sorted out.Secondly,choose external and internal two perspectives,detailed analysis of the reasons for the backdoor listing of Offcn Education.Thirdly,it evaluates and analyzes the performance of Offcn Education after backdoor listing from four aspects: First,based on the event study method,it analyzes the accumulated excess return of enterprises before and after backdoor listing,so as to analyze the short-term impact of this behavior on the market;Second,through a series of financial indicators,analyze the profitability,debt paying ability,operating ability and development ability of enterprises after backdoor listing,and obtain the change of traditional financial indicators;Third,based on EVA analysis method,the change of economic added value before and after the backdoor listing of Offcn Education was measured to make up for the deficiency of the traditional financial index evaluation system which only considers the debt financing cost and ignores the opportunity cost of equity capital.Fourthly,after the backdoor listing of the enterprise,the development of the enterprise’s R&D and innovation ability,the degree of brand value promotion,the completion of gambling performance and risk of these non-financial indicators are analyzed,so as to make the performance analysis more comprehensive.Finally,the conclusion of this paper is drawn,from the overall point of view,the backdoor listing of Offcn Education has a relatively positive impact,but we should also consider the possible risks.In addition,the whole process of backdoor listing of Offcn Education,including the selection of shell companies,backdoor plan design and other key steps,is of reference significance for similar enterprises.