广汇汽车借壳上市的动因及财务绩效研究

发布时间：2018-01-10 00:10

本文关键词：广汇汽车借壳上市的动因及财务绩效研究　出处：《广东外语外贸大学》2017年硕士论文　论文类型：学位论文

【摘要】：近年来,我国汽车流通行业发展迅猛。在国家政策的驱动下,汽车流通企业纷纷响应号召做大做强。与此同时,汽车流通企业也面临着各种发展难题,其背后的原因主要归结于资金的短缺,融资难成为民营企业发展壮大的阻碍,而上市则成为了不二之选。我国企业上市途径主要有两种:IPO上市和借壳上市。虽然目前证监会已经将借壳上市的标准由趋近IPO更改为等同于IPO标准,使借壳上市的门槛提升了很多,但实际上借壳上市通过率仍高于IPO上市,因此市场对此热度仍然不减,反而有增加的趋势。企业通过借壳上市融资,而募集资金的使用则与公司的财务绩效有着密不可分的联系。因此对借壳上市财务绩效的研究具有研究价值。本文探讨了广汇汽车借壳上市的动因并评价其财务绩效,分析其财务绩效变化的原因。广汇汽车服务股份公司是汽车流通行业的领先者,其成功实现借壳上市具有一定的代表性。因此,文章选取了广汇汽车借壳美罗药业上市的案例进行研究。研究的重点是分析广汇汽车借壳上市的动因以及借壳上市前、中、后的财务绩效。本文首先对国内外相关文献进行综述,进而分析了广汇汽车借壳上市的动因,接着运用会计指标研究法对财务绩效进行了详细分析。本文得出以下结论:广汇汽车在国家大力要求汽车流通企业做大做强的大背景下急需发展,在IPO受阻的情况下,借壳上市成为进军资本市场的最佳选择;借壳上市的成功实现了广汇汽车借壳动因;借壳上市对广汇汽车的财务绩效产生了正效应。最后本文提出了广汇汽车成功借壳上市并促进公司可持续发展的启示与建议:第一是寻找合适的壳资源;第二是通过借壳上市这一融资手段合理进行后续资源整合;第三是发力新能源汽车销售。
[Abstract]:In recent years, the automobile circulation industry in China has developed rapidly. Driven by national policies, automobile circulation enterprises have responded to the call to become bigger and stronger. At the same time, automobile circulation enterprises are also facing various development problems. The reasons behind it are mainly due to the shortage of funds, and the difficulty of financing has become a hindrance to the development and growth of private enterprises. There are two main ways for Chinese enterprises to go public:. IPO listing and backdoor listing. Although at present the CSRC has changed the standard of backdoor listing from approaching IPO to equivalent to IPO standard. The threshold of backdoor listing has been raised a lot, but in fact, the pass rate of backdoor listing is still higher than that of IPO listing, so the heat of the market is still not decreasing, on the contrary, there is an increasing trend. The use of raised funds is closely related to the financial performance of the company. Therefore, the research on the financial performance of backdoor listing is of great value. This paper discusses the motivation of Guanghui Automobile backdoor listing and evaluates its finance. Performance. Analysis of the reasons for its financial performance changes. Guanghui Automotive Services Co., Ltd. is the leading automobile circulation industry, its successful realization of backdoor listing has a certain representative. This paper selects the case of Guanghui Automobile backdoor Merlot Co., Ltd. The focus of the study is to analyze the motivation of Guanghui Automobile backdoor listing and before the backdoor listing. First of all, this paper summarizes the relevant literature at home and abroad, and then analyzes the motivation of Guanghui Automobile backdoor listing. Then we use the accounting index research method to analyze the financial performance in detail. This paper draws the following conclusions: Guanghui Automobile is in urgent need of development under the background that the country strongly requests the automobile circulation enterprises to become bigger and stronger. When IPO is blocked, backdoor listing becomes the best choice to enter the capital market. The success of backdoor listing has realized the motivation of Guanghui auto shell borrowing; Backdoor listing has a positive effect on the financial performance of Guanghui Automobile. Finally, this paper puts forward the enlightenment and suggestions on the successful backdoor listing of Guanghui Automobile and promoting the sustainable development of the company: first, to find suitable shell resources; The second is through the backdoor listing of the financing means of reasonable follow-up resource integration; The third is to develop new energy car sales.
【学位授予单位】：广东外语外贸大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F426.471;F832.51;F406.7

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