【Key words】 public security； asset disposal； associate transaction； enterprise value； state-owned equity； model；
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The study analyzes the influence of group companies' holistic listing from four aspects as follow: increasing financing channels; reducing associate transaction; rising industry competitive advantage and protecting public companies structure. It can also lower transaction and management costs.
历史上,分拆上市会导致生产和原材料、销售脱节,或者产业上下游断开,通过整体上市提高上市公司在业务经营与组织管理等方面的独立性,有助于公司开展资源整合而形成一体化的产业链优势,注入新的增长活力;同时可以确保上市公司资产的完整性,规范上市公司的经营管理,解决长期存在的同业竞争和关联交易问题,降低交易费用与管理成本。
参考来源 - 基于武钢股份整体上市的财务效应分析·2,447,543篇论文数据，部分数据来源于NoteExpress
The RM must associate any changes to the application state with the transaction requesting the changes.
RM必须使对应用程序状态所做的任何更改与请求更改的事务相关联。
Since transaction types are identified by two - or three-bit numerical or character code, a large company or small business needs to associate a business transaction category for each type.
由于事务类型由两位或三位数值或字母代码标识，因此大公司或小公司需要关联每种类型的业务事务类别。
Together, they will associate the SAML token with a given secure conversation transaction.
这三个样式表将这个 SAML 令牌和一个给定的安全会话事务关联起来。
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