This paper uses the accounting study method, improved FA-DEA, event study method and tobit re- gression method to study the efficiency changes of listed companies implementing holistic listing and their influ- encing factors, and constructs a theoretic model to explain the empirical results. The empirical results show that, although holistic listing increases the controlling proportion of listed companies for major shareholders and expands the operation scale in the short-term, it does not accordingly improve the profit and efficiency and ex- c...
