中国概念股私有化研究

发布时间：2018-01-11 21:27

本文关键词：中国概念股私有化研究　出处：《河北经贸大学》2017年硕士论文　论文类型：学位论文

【摘要】：从2015年开始,中概股私有化成为财经热词,计划进行私有化的中概股多达30余家,掀起一波中概股私有化浪潮。中概股作为具有中国背景的海外上市公司,本身就具有易吸引市场关注的属性。由于中国作为新兴经济体的地位越来越被认可,以及中国经济发展取得的亮眼成就,中国概念股一度非常受追捧。然而,打铁还需自身硬。由于国外资本市场对企业发展前途和业绩的要求高,发展不及预期的中概股慢慢受到冷落甚至遭遇恶意做空。这样的环境背景催生出新一波中概股私有化的浪潮,在海外资本市场遭到冷遇的中概股希望通过私有化进而回归到国内资本市场寻求认可。奇虎360是这一次大规模进行私有化的中概股中体量最大的企业。持续了一年之久的私有化过程得到了国内资本市场投资者的极大关注,甚至360壳概念一度炙手可热,受到股票市场投资者的热烈追捧。本文在观察到了中概股私有化的现象之后,选择了奇虎360为研究对象,对其私有化的过程、原因、退市时机、利弊以及可能回归国内股票市场的路径进行了分析和评价,并在案例分析的过程中阐述了通过奇虎360的私有化对其他中概股的启发意义。通过对私有化案例的梳理与分析,文章认为奇虎360的私有化退市是其长远发展的必然选择,是符合公司长远发展方向的战略选择,并且在不远的将来会回归到国内的股票市场。
[Abstract]:Since 2015, the privatization of Chinese shares has become a hot word of finance and finance, with more than 30 Chinese companies planning to privatize. As an overseas listed company with Chinese background, it is easy to attract market attention. China's status as an emerging economy is increasingly recognized. As well as the outstanding achievements of China's economic development, the Chinese concept stocks were once very popular. However, it still needs to be hard on its own because of the high demand of foreign capital markets for the future and performance of enterprises. The development of less than expected in the stock is slowly ignored or even encountered malicious short. Such an environmental background spawned a new wave of privatization of almost shares in a wave of waves. China shares, which have received a cold shoulder in overseas capital markets, are hoping to return to domestic capital markets for recognition by privatizing them. Qihoo 360 is the largest company in the mass privatisation. The privatization process, which has lasted for a year, has received great attention from domestic capital market investors. Even the concept of 360 shell once hot, by the stock market investors enthusiastically sought after. This article observed the phenomenon of privatization of shares in general, chose Qihoo 360 as the object of study. The process of privatization, the reasons, the time of delisting, the advantages and disadvantages, and the possible way to return to the domestic stock market are analyzed and evaluated. And in the process of case analysis, this paper expounds the enlightening significance of Qihoo 360's privatization to other shares, and combs and analyzes the privatization cases. The article holds that Qihoo 360's privatization delisting is an inevitable choice for its long-term development, a strategic choice in line with the company's long-term development direction, and will return to the domestic stock market in the near future.
【学位授予单位】：河北经贸大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.51

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