京汉置业借壳上市行为研究-金融学专业论文.docxVIP

C C ontents 1 Introduction·························································’‘‘’‘。。‘‘’。‘。‘‘‘‘’’’‘。’。‘‘’‘’’’’1 1．1 Research Background and Significance 。1 1．1．1 Research Background 1 1．1．2 Research Significance 2 1．2 Domestic andAboard Literature Review ’‘3 1．2．1 Domestic Literature Review ·‘3 1．2．2Aboard Literature Review ‘4 1．3 Research Main Content and Methods 。5 1．3．1 Main Content ‘5 1．3．2 Research Methods ’5 2 The Case Introduction ofBackdoor Listing ofKing Hand Housing‘·················。6 2．1 The Main Concept ofBackdoor Listing ‘6 2．1．1 The Main Concept of Shell Company and The Features of Shell Resource 6 2．1．2 The Main Concept and and types ofbackdoor Listing 。6 2．2The Main Body and Background ofTrading ··7 2．2．1 Backdoor Party—King Hand ·。7 2．2．2 Shell Company-HuBeiJinHuan ·8 2．2．3 The Background ofBackdoor Listing ‘‘9 2．2．4 The Purpose ofBackdoor Listing lO 2．3 The Pattern and Process ofBackdoor Listing ofKing Hand ·‘10 2．3．1 The Pattern Backdoor Listing 。10 2．3．2 The Pattern and Process of Backdoor Listing of King Hand ·‘1 1 3 The Main Body Motivation ofBackdoor Listing 13 3．1 The Motivation ofBackdoor Listing ofKing Hand 。13 3．2The Selling Shell MotivationofHuBeiJinHuan ··17 4 The Choice and Risk of Shell Company 18 4．1 The Choice ofShell Company 。18 4．1．1 SmallerMarketValue，PreferablyBelow 5 BillionYuan 18 4．1．2 Smaller Share Capital，More Concentrated Equity ‘19 4．1．3 Shell Resources Cleaning 21 4．2 The Risk ofBackdoor Listing ··22 4．2．1 PolicyAnalysis 22 万方数据 4．2．2 4．2．2 The Risk ofRestructuring Failure ··23 4．2．3 The Risk ofInformationAsymmetry ··23 4．2．4 The Risk ofIntegration 24 5 The Cost and Benefit ofBackdoor Listing 25 5．1 The Cost Model ofBackdoor Listing ··25 5．2 The Benefit Model ofBackdoor Listing ··25 5．3 The Cost and Benefit ofBackdoor Listing ··28 5．4 The Cost and Benefit ofBackdoor Listing ofKing Hand 28 6 Conclusion ”30 6．1 Conclusion 30 6．2 Deficiency ·30 Reference 31 Acknowledgements’ 34 IV 万方数据 摘要在我国A股市场上由于采用的是