上汽集团整体上市绩效研究

发布时间：2018-06-22 20:20

本文选题：上汽集团 + 整体上市　；参考：《湘潭大学》2017年硕士论文

【摘要】：随着分拆上市暴露出的种种弊端,以及我国整体上市成功案例的普及,整体上市方案越来越受到拟上市企业的青睐。通过整体上市,企业可以减少相互间的关联交易,避免同行业竞争,增强企业的行业竞争力,从而提高企业绩效。因此,整体上市,它作为带有中国特色的上市模式,对我国上市公司质量的提高,证券市场的健康有序发展,有着至关重要的意义。但是,对于整体上市是否能够改善企业长期绩效的问题,研究学者们各抒己见,还未有统一的定论。随着当今国民经济的发展与壮大,汽车制造业逐渐成为我国制造业中的支柱产业,并对我国经济发展和社会进步产生深远的影响。上汽集团,作为我国汽车制造行业的先列,四大汽车集团之首,拥有多家合资品牌,吸收各国先进技术,企业底蕴深厚。因此,对它进行分析研究,会给我国汽车制造业的发展带来重要的借鉴作用,并为整体上市的企业给予了积极的理论指导和实践借鉴。本文以上汽集团为研究样本,首先介绍了上汽集团整体上市的背景和动因,对上汽集团为实施整体上市所进行的具体步骤进行梳理。而后运用定性、定量、比较分析相结合的方法,先纵向分析上汽集团整体上市前后各财务数据的变动,其中采取单一分析企业的偿债、营运、盈利等各财务指标再综合分析影响企业绩效的决定性因素;最后将整体上市后的上汽集团与我国其他汽车集团进行横向比较。依据分析,归纳并总结出上汽集团整体上市绩效研究的相关结论:整体上市对企业的财务指标影响显著,短期内促进了企业的绩效;整体上市对部分非财务指标有影响;横向比较中,整体上市对绩效的影响不显著。最后,根据本文已有的分析和结论,为我国想要利用整体上市这一契机提高绩效水平的企业提供几点政策性建议:对整体上市方案进行事前评估;加强对并入资产调控,防范整体上市所带来的风险;注重整体上市后企业的内部管理、资本运营等方面的加强。
[Abstract]:With the malpractice exposed by the split listing and the popularization of the successful cases of the whole listing in our country, the scheme of the whole listing is more and more favored by the enterprises to be listed. Through the whole listing, the enterprises can reduce the related transactions, avoid competition with the same industry, enhance the competitiveness of the industry, and improve the performance of the enterprises. Therefore, the overall listing, as a listing mode with Chinese characteristics, is of great significance to the improvement of the quality of listed companies and the healthy and orderly development of the securities market. However, whether the overall listing can improve the long-term performance of enterprises, scholars have expressed their views, there is no unified conclusion. With the development and expansion of the national economy, the automobile manufacturing industry has gradually become the pillar industry in our manufacturing industry, and has a profound impact on the economic development and social progress of our country. SAIC Group, as the first in China's automobile manufacturing industry, is the first of the four major automotive groups, with many joint ventures, absorbing advanced technology from various countries, and deep corporate heritage. Therefore, the analysis and study of it will bring an important reference to the development of China's automobile manufacturing industry, and provide positive theoretical guidance and practical reference for the listed enterprises as a whole. Taking SAIC Group as the research sample, this paper firstly introduces the background and motivation of the whole listing of SAIC Group, and combs the concrete steps of SAIC Group to implement the whole listing. Then using the method of qualitative, quantitative and comparative analysis, we analyze the changes of financial data before and after the whole listing of SAIC Group. Among them, we adopt a single analysis of the debt service and operation of the enterprise. Finally, this paper makes a horizontal comparison between SAIC and other automobile groups after the overall listing. Based on the analysis, the relevant conclusions of the research on the overall listing performance of SAIC Group are summarized: the overall listing has a significant impact on the financial indicators of the enterprise, and promotes the performance of the enterprise in the short term, and the overall listing has an impact on some non-financial indicators. In horizontal comparison, the impact of overall listing on performance is not significant. Finally, according to the analysis and conclusion of this paper, it provides some policy suggestions for the enterprises that want to take advantage of the opportunity of overall listing to improve their performance: to evaluate the overall listing plan in advance; to strengthen the regulation and control of the incorporation of assets. To guard against the risks brought by the whole listing and to pay attention to the internal management and capital operation of the enterprises after the whole listing.
【学位授予单位】：湘潭大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.471;F406.7

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