国有企业分拆上市的动因及绩效研究——以厦门钨业为例  

An Investigation into the Motivations and Performance of Spin-off Listings of State-Owned Enterprises--Taking Huaqin Xiamen Tungsten as an Example

作　　者：卢琦纬 Qiwei Lu(East China Jiaotong University,Nanchang,Jiangxi,330013,China)

机构地区：[1]华东交通大学,江西南昌330013

出　　处：《经济管理学刊（中英文版）》2024年第3期104-109,共6页Economic Management Journal

摘　　要：本研究旨在探讨国有企业分拆上市的动因及其绩效,以厦门钨业为案例,揭示分拆上市对企业价值和市场表现的影响。通过对厦门钨业分拆上市前后的财务数据和市场表现进行对比分析,结合行业案例和相关文献,系统评估分拆上市的动因和绩效表现。研究发现,厦门钨业的分拆上市主要动因包括改善经营状况、提升核心业务的市场竞争力以及增强企业整体价值。分拆上市后,厦门钨业及其子公司的市场表现和财务指标均显著改善,证明了分拆上市对企业的正面影响。国有企业通过分拆上市可以有效提升资源配置效率和市场竞争力。厦门钨业的成功经验表明,分拆上市不仅有助于企业实现战略升级,还能在竞争激烈的市场环境中获得长期的价值增值。This study examines the motives and performance of state-owned enterprises during spin-off listings,focusing on Xiamen Tungsten.It highlights the influence of spin-offs on corporate value and market performance.By analyzing financial data pre-and post-spin-off and integrating industry cases,the research assesses motives and outcomes systematically.Key motives for Xiamen Tungsten’s spin-off include improved operations,enhanced competitiveness,and increased corporate value.Post-spin-off,both Xiamen Tungsten and subsidiaries showed significant gains in market performance and financial metrics,demonstrating the benefits of spin-offs.State-owned enterprises can boost resource allocation and competitiveness via spin-offs.Xiamen Tungsten’s success illustrates that spin-offs support strategic upgrades and foster long-term value in a competitive market.

关 键 词：分拆上市 分拆动因 绩效分析 

分 类 号：F27[经济管理—企业管理]