国美电器资本运作研究

发布时间：2018-01-10 03:00

本文关键词：国美电器资本运作研究　出处：《南昌大学》2013年硕士论文　论文类型：学位论文

【摘要】：资本的本质是追求利润,实现增值。随着资本市场的不断发展和完善,资本增值的手段和方法越来越多,金融资本和产权资本运作成了主要方式,以期获得企业利润最大化、所有者权益最大化和企业价值最大化。国美电器由黄光裕于1987年在北京创立,依靠经营的创新、薄利多销的策略以及对资本的灵活运用,经过25年的发展,成为了中国最大的家用电器零售连锁企业。国美电器通过借壳的方式在2004年登陆香港证券交易所。上市后,依靠国美电器被市场看好的实业经营前景,综合运用金融资本和产权资本运作手段,使国美电器的企业价值达到了最大化,创始人黄光裕也通过不断套现获了巨额的财富,数次问鼎中国首富。本文剖析了国美电器上市运作的过程以及上市后国美电器发动的兼并、引入战略投资者、发行债券等主要的资本动作,认为实业经营是资本运作的基础,而完善的公司治理结构是资本运作的保障。
[Abstract]:The essence of capital is to pursue profit and realize increment. With the development and perfection of capital market, there are more and more means and methods of capital appreciation, and financial capital and property capital have become the main way. In order to obtain the enterprise profit maximization, the owner equity maximization and the enterprise value maximization. Gome was founded in 1987 by Huang Guangyu in Beijing, relying on business innovation, small profit strategy and flexible use of capital, after 25 years of development. Gome became the largest retail chain of household appliances in China. Gome landed on the Hong Kong Stock Exchange in 2004 through the way of shell lending. After listing, Gome was relied on by the market to be optimistic about the industrial business prospects. The comprehensive use of financial capital and property capital operation means to maximize the corporate value of Gome, founder Huang Guangyu through the continuous cash to gain a huge wealth, several times China's richest man. This paper analyzes the process of Gome's listing operation and the merger launched by Gome after listing, introducing strategic investors, issuing bonds and other main capital actions, and thinks that industrial management is the basis of capital operation. The perfect corporate governance structure is the guarantee of capital operation.
【学位授予单位】：南昌大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F275;F426.6

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