Research On The Influence Of Introducing Strategic Investor On The Value Creation Of Shanxi Fen Liquor

As Chinese macro-economy enters a new normal,more and more listed companies have obtained funds by introducing strategic investors and obtained advantageous resources such as market,technology,and management to achieve the purpose of improving corporate value.The China Securities Regulatory Commission released the revised version of the "Administrative Measures for the Issuance of the Securities of Listed Companies" on February 14,2020 to clarify the definition and basic requirements of strategic investors.In addition "Regarding the Supervision Requirements" clarified the direction of strategic investors introduced by listed companies.The ultimate goal of enterprises to introduce strategic investors is to achieve the continuous and better development of the enterprise,but from the actual situation,the effect of enterprises after introducing strategic investors is different.As an important part of my country’s national economy,the liquor industry undertakes the heavy responsibility of developing the local economy.It is in the fully competitive market and is facing the dilemma of development and transformation.This article takes Shanxi Fenjiu as the case research object,based on resource arrangement theory,sorting and summarizing the theoretical foundation and relevant literature;the use of collaborative effect theory and signal transmission theory,analyzing Shanxi Fenjiu to introduce strategic investors’ causes,focusing on the introduction of strategic investors to Shanxi Fenjiu,Shanxi Fenjiu Value creation influence effect.The main cause of the introduction of strategic investors in Shanxi Fenjiu lies in policy-driven,industry competition,and further improved corporate structure.Based on the "Resource Structure-Structure-Resources Reorganization-Resource Utilization" process in this article,this article analyzes the influence mechanism of the introduction of strategic investors on the value creation of Shanxi Fenjiu.Evaluation.First of all,the use of event research methods to analyze the value effects of the short-term market level,and it is found that the CAR value brought by the introduction of war investors is generally negative,and the market effect is not optimistic.Create analysis,and found that after the introduction of strategic investors,Shanxi Fenjiu’s debt capacity,profitability,operating capacity,growth ability,and economic added value have all improved significantly;finally,based on the value impact analysis of the value of strategic investors based on the resource integration level,It is found that the integration of resources such as human resources,market development capabilities,and brand building capabilities has improved significantly.This article concluded that after the introduction of strategic investors in Shanxi Fenjiu,it showed a trend of a short-term decline but a long-term value increase in the introduction,indicating that the introduction of strategic investors to inject fresh blood into Shanxi Fenjiu and bring a positive wealth effect to investors.This article’s revelation is mainly: first,the internal and external resources of the enterprise should be optimized and the strategic integration of assets and business should be accelerated.Second,after the introduction of strategic investors in state-owned enterprises,they should follow the principles of complementary advantages,mutual benefit and win-win results to achieve realization The goal of improving corporate value;third,we should increase attention to short-term financial performance and prevent long-term impact on corporate value due to short-term market reactions.