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Compared with the expansion of the main industry , diversified business , having spread investment risk and easy transition to other industries and other advantages. Clearly, asset restructuring through mergers and acquisitions and other means to achieve diversification project to be efficient than re-invest more.

在证券市场开设之初，综合类上市公司因从事多种经营可以分散风险曾受到市场的追捧。但随着时间的推移，部分综合类上市公司由于本身不具有多元化经营的能力，主业不明，业绩不断下滑，投资者也渐渐对这类公司失去了兴趣。明晰主业、改善业绩成了这类公司进行资产重组最主要的动因。这类公司往往通过资产剥离和资产置换的方式来达到剥离非经营性资产、加强主营业务的目的，是通常所说的收缩战略。

In the stock market opened at the beginning , Miscellaneous listed company engaged in a variety of business risks can be distributed once sought after by the market . But as time goes on , some of the listed companies consolidated itself does not have the ability to diversify , the main industry is unknown, performance continued to decline, investors have gradually lost interest in this type of company . Clear the main industry, to improve the performance of these companies became the major reorganization of assets motivation . Such companies often replacement of assets through asset stripping and the way to achieve the divestment of non -operating assets , strengthen the main business objective is commonly referred to as shrinkage strategy.

过去我国长期重一、二产业，轻第三产业，国有企业中传统产业（如电器、商业、钢铁、纺织等）占多数，科技含量高、资本和知识密集型产业发展缓慢，经济运行中的结构性矛盾较为突出。这类上市公司逐渐失去竞争优势，迫切希望通过资产重组实现产业调整和升级，逐渐脱离原来的主业，进入其他行业，以期二次腾飞。

Past our long-term heavy one , two industries, light tertiary industry , state-owned enterprises in traditional industries ( such as electrical , commercial , steel, textile , etc. ) in the majority , high technology , capital and knowledge-intensive industries slow development , economic operation more prominent structural contradictions . Such listed companies gradually lose their competitive edge , eager to achieve industrial restructuring through asset restructuring and upgrading , moving away from the original primary industry into other sectors , in order to take off twice .

As historical issues and stock plans quota management reasons , our current capital structure of listed companies in the prevalence of state-owned shares of state-owned legal person shares accounted for absolute control of the phenomenon. Therefore, the state share of state-owned legal person shares in the listed company 's total share capital , the proportion is too large, shareholding structure is irrational and difficult these public shares traded public companies and has been troubled by the problem of state-owned shareholders . The main performance in the equity structure is too centralized ; Group, the controlling shareholder and the listed companies not completely separated ; control of state-owned shares is not clear , resulting in empty spaces and other aspects of property rights . To enhance competitiveness , many companies are beginning to carry out state-owned shares , equity transfer restructuring activities in order to optimize the ownership structure .

Mergers, acquisitions is an enterprise invested in cash or assumed debt in the form of another enterprise to obtain all or most of the assets or property , and has de facto control over the enterprise . This is some good economic returns of listed companies in order to expand business scale, used to carry out diversified as本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。