我国企业整体上市模式和绩效研究.pdf

分析了整体上市过程中存在的问题，并提出相应的解决问题的措施。 第四部分阐述整体上市热潮中股市投资的机会与风险。 关键词：分拆上市，整体上市，证券市场，公司治理 Ⅱ ABSTRACT 111e market ofChinahas tobean ofthe capital grown importantpart national economymorethan10 duetosome暾oficfl during years’development．But ofChineselisted Were reasons,the bomofsome majority companies fromtheirmother is high-productivecapital companies，that listing’． the As reformis modeturnsoutto economy going sophisticated，theSpin-off be havetwodistinct inefficient．n坨spin-offlistingholdingcompanies management wanttheir to subordinateeRITI the objects：First，theylisting better,maximize inthesame to areintendedshift shareholders’equityvalue；while time．they burdens tomake tothe themselves is listingcompanies unavoidableforthemother andthe have to sortsof companieslistingcompanies associated asthe forthe transactions，such listing companieshypothecateholding andthe listillg companiesholdingcompanies峨thecompanies’fundunl