Research On The Effect Of Market-oriented Debt To Equity Swap Of Chang Jiang Shipping Group Phoenix

In recent years,the global overcapacity situation,our country's economy also faces significant challenges,most companies leverage rate is high,the central economic work conference,is to leverage as the "three to one drop a fill" one of the five tasks.Leverage with market debt turn to go,help some enterprises through the financial crisis,dissolve the creditors of non-performing loans,but because of the debt-to-equity swap in our country the implementation time is shorter,although have many advantages but lack of experience in related,if not carefully study the details and possible problems,enterprises in the specific implementation operation will not be able to effectively evade these risks,and may create new risks.Firstly,this paper expounds the background and significance of the research,the content and objectives of the research,and the innovation and insufficiency of this paper.Secondly,relevant concepts are defined,and relevant literatures at home and abroad are reviewed and summarized.The following is the introduction of the case of changhang phoenix market debt-to-equity swap,introduces the enterprise profile of changhang phoenix,and the implementation process and the specific contents of the scheme.Then according to the case of above changhang phoenix marketization debts into shares,convertible strategy for long-endurance phoenix market debt is analyzed,and combining with related data from a financial and non-financial aspects of longendurance phoenix marketization debts into shares after implementation effect is analyzed;Finally,combined the changhang phoenix marketization debts into shares of case analysis,put forward the enterprise implement the marketization of debt turn constraints,and in view of the above factors,try to put forward Suggestions and improvement direction.