本文關(guān)鍵詞：國(guó)軒高科借殼上市案例研究　出處：《吉林財(cái)經(jīng)大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 借殼上市 國(guó)軒高科 東源電器 財(cái)務(wù)績(jī)效

【摘要】：隨著社會(huì)經(jīng)濟(jì)的發(fā)展,企業(yè)在市場(chǎng)中面臨的競(jìng)爭(zhēng)力加劇,為了尋求更好地發(fā)展,企業(yè)管理者們希望通過并購(gòu)重組拓寬企業(yè)的發(fā)展領(lǐng)域,改變企業(yè)組織結(jié)構(gòu),且通過市場(chǎng)融資使企業(yè)更好的發(fā)展。其實(shí),企業(yè)并購(gòu)對(duì)人們來說并不陌生,而借殼上市又是我國(guó)資本市場(chǎng)近幾年來老生常談的話題。就企業(yè)而言,在短時(shí)間內(nèi)快速獲取資金的方法就是通過上市進(jìn)入證券市場(chǎng)。但是我國(guó)對(duì)那些初次公開募集資金的企業(yè)有著嚴(yán)格的審核制度,使得很多有意圖上市卻達(dá)不到規(guī)定要求的企業(yè)只能望股輕嘆,同時(shí)這些規(guī)定在某種水平上限制了很多有發(fā)展能力的企業(yè)今后的成長(zhǎng)。在這樣的條件下,借殼上市呈現(xiàn)給借殼企業(yè)獲取對(duì)被借殼企業(yè)控制權(quán)的時(shí)機(jī),從而實(shí)現(xiàn)間接上市。本文以國(guó)軒高科借殼東源電器上市案例為研究對(duì)象,采用案例分析法和財(cái)務(wù)指標(biāo)分析法研究案例。作者先研究借殼上市的研究背景、研究意義、以及國(guó)內(nèi)外研究現(xiàn)狀。然后討論借殼上市的概念,殼資源定義,借殼上市的動(dòng)因及企業(yè)資產(chǎn)估價(jià)方法的概述等等。其次則主要對(duì)國(guó)軒高科借殼東源電器案例進(jìn)行研究,了解借殼的背景,買賣殼的原因,借殼上市的操作過程,以及上市的定價(jià)問題及支付的方式。再者對(duì)國(guó)軒高科借殼上市前后企業(yè)的財(cái)務(wù)績(jī)效和市場(chǎng)績(jī)效情況展開詳細(xì)解剖,主要涉及比較IPO和借殼上市的不同之處,上市定價(jià)的合理性分析,上市存在的風(fēng)險(xiǎn)分析和上市前后的績(jī)效對(duì)比。最后通過以上章節(jié)的分析,提出本文研究的結(jié)論和啟示。本人認(rèn)為今后中小企業(yè)在借殼上市時(shí)可以借鑒國(guó)軒高科的案例,選擇像東源電器那樣結(jié)構(gòu)清楚,財(cái)務(wù)情況干凈的殼資源;同時(shí)學(xué)習(xí)國(guó)軒高科借殼過程中怎樣規(guī)避內(nèi)部風(fēng)險(xiǎn);如何做到借殼后的企業(yè)不管是盈利能力,還是償債能力,營(yíng)運(yùn)能力及發(fā)展能力都得到了很大的提升。
[Abstract]:With the development of social economy, enterprises are facing increasing competitive in the market, in order to seek better development, enterprise managers hope that through mergers and acquisitions to broaden the field of development of enterprises, to change the organizational structure of enterprises, and through the market financing for the better development of enterprises. The enterprise merger and acquisition, it is not strange, but the backdoor listing it is the capital market of our country in recent years. The topic of a commonplace talk of an old scholar on enterprises, rapid access to funds in a short period of time is through the listing to enter the stock market. But our country has a strict audit system for those initial public offering funds in the enterprise, makes a lot of intention but not up to the requirements listed the enterprise can only hope share sighs, and these Provisions to a certain extent limit many have the ability to develop enterprise growth in the future. In such conditions, showing the backdoor listing For enterprises to obtain backdoor backdoor by control of the business opportunity, so as to realize the indirect listing. In this paper, China Xuan tech backdoor Dongyuan electric listed case as the object of study, using case analysis method and financial index analysis case study. The author first studies the background, the backdoor listing of the research significance, the research status at home and abroad and then discuss. The concept of backdoor listing, backdoor listing of shell resources definition, motivation and enterprise asset valuation method overview and so on. Then mainly on China Xuan tech backdoor Dongyuan electric appliance case study, understand the backdoor of the background, causes the sale of housing, the operation process of the backdoor listing, and pricing of listed financial and payment. In addition to the performance and the market performance of China Xuan tech backdoor listing enterprise before and after detailed anatomy, mainly related to the difference between IPO and the backdoor listing, listing set Analysis of rationality of price, performance and risk analysis and comparison are listed. Finally, through the above analysis, this paper puts forward the research conclusion and revelation. I think the future of small and medium-sized enterprises in the backdoor listing from China Xuan tech case, like Dongyuan electric as the structure clear, clean shell resources financial situation; while learning how to avoid the risk in the process of China Xuan tech backdoor backdoor; how to do after the enterprise whether or profitability, solvency, operation ability and development ability have been greatly improved.

【學(xué)位授予單位】：吉林財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：F832.51;F426.6

【參考文獻(xiàn)】

相關(guān)期刊論文 前10條

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本文編號(hào)：1426072