Empirical Research On Multi-faceted Reorganization Patterns Of State-owned Commercial Enterprises In Nanjing

Since 2003, state-owned commercial enterprises have set off one strands of the assets reorganization tide in the whole nation. Under such overall situation, state-owned commercial enterprises in Nanjing had also begun to seek for a new way of living. At the end of 2003, a series of reforming schemes were debuted and a general requirement, "switching over generally, changing completely", was suggested by The Nanjing municipal government. Golden Eagle reorganising Nanjing Xin Bai, mergencing East commercial center and Yu Run reorganising Nanjing Zhong Shang spurred Nanjing state-owned commercial enterprises assets reorganization climax on.This dissertation was based on the bargain expenses theories, produce power theories and enterprise mergence theories in new institutional economics. Theories analysis was demonstrated by three aspects, which were theories motive, society motive and economy motive. The whole value and core factors former reorganization of 2004-2005 Nanjing state-owned commercial enterprises were analyzed. The possibility of property reorganization by horizontal annex or mix annex was certificated by building up a balanced model.The comprehensive index number method, dividend capitalization method, discounted cash flow method, event analysis method and added economic value method were treated as study methods.The reorganization background, process and enterprises development conditions of Golden Eagle reorganization Nanjing Xin Bai and YuRun reorganization NanJing Zhong Shang were elaborated respectively.Pre-reorganized both parties'background conditions, commercial enterprises'procured prices, the second class market reflection conditions and pre- and pdst-reorganization operation performance ranking analysis were contrasting studied.Counter plans and suggestions on Nanjing state-owned commercial enterprises property reorganization were putted forward by combining abroad assets reorganization theories and practical experiences.It's proved out that the total win of all three aspects of government, commercial enterprises, and society after the reorganization of state-owned commercial enterprices can only be achieved when clearing the property rights of premices, improving sound society welfare, establishing actual valid property pricing method, raising layer and scope of finance service and integrating ex-reorganized both parties' corporate culture.