Study On The Motivation And Performance Of Chongqing Steel Bankruptcy Reorganization

With China's economic growth slowed and economic increasing downward pressure,part of the industry of excess capacity,enterprise's profit space compression,these enterprises that produced a great number of close to bankruptcy saddled with heavy debt burden,profit ability is abate,increasing losses,it is difficult to maintain normal operation,this should be eliminated by the market slightly tide winning legal,however,the local government in order to maintain the smooth running of the local economy,local people employment to give financial aid to those difficulties enterprises frequently or help them get loan funds,force to maintain its operation,which has given rise to a large number of zombies The existence of these enterprises makes the resource allocation efficiency low,hinders the economic restructuring and industrial upgrading and transformation,and is not conducive to the stable and healthy development of China's economy.This thesis research idea is: first,combing the bankruptcy reorganization of dynamics performance and stakeholders to protect the domestic and international research results and then,introduces the basic situation of chongqing iron and steel and bankruptcy reorganization after the second,based on the stakeholder theory to analyze the dynamics of the parties involved in restructuring,based on the theory of enterprise value using the financial index analysis method to analyze its financial performance before and after reforming,and then based on the Angle of interests protection performance before and after the restructuring is analyzed,on the basis of the relevant conclusions and enlightenment through the bankruptcy reorganization,chongqing iron and steel to get rid of the heavy debt burden,production and management structure was optimized,the solvency of the enterprise The profitability has been significantly improved,and the interests of shareholders and creditors have been protected to the greatest extent.Therefore,the successful experience of chongqing iron & steel bankruptcy reorganization can provide reference for similar enterprises in difficulties.Chongqing iron and steel bankruptcy reorganization case was the largest domestic involves the assets and liabilities of state holding listed company reorganization's first A + H share company reforming the first iron and steel industry restructuring of listed companies,especially serious and the precedent is considered tosumming up the experience of the successful cases can provide experience for national disposition of zombies,can also through the bankruptcy reorganization system out for other enterprisesin the enlightenment,has certain practical significance.