The Mode Selection And Valuation Of Listed Companies' Bankruptcy Reorganization

The bankruptcy and reorganization system is a powerful complement to the bankruptcy reconciliation and bankruptcy liquidation systems and plays an important role in preventing the social adverse effects caused by the bankruptcy of large-scale enterprises.At present,bankruptcy and reorganization has been increasingly practiced in our country.However,compared with developed capitalist countries such as the United States and Japan,our country's bankruptcy law is still not perfect,and we cannot provide sufficient guidance for companies and practical personnel.There are still many puzzles in practice.On the basis of summarizing the more general reorganization value evaluation methods,this article analyzes the reorganization plans of sample companies,sums up the status and characteristics of the bankruptcy reorganization model selection and reorganization value evaluation of listed companies in China,and constructs different weights.The whole model of value evaluation method.Judging from the current selection of China's bankruptcy reorganization model,reorganization is mainly based on backdoor listing.The relevant theoretical application of reforming mode selection is still immature,and there are blindly following trends.The reformation income is the key indicator of the reorganization value evaluation.This article defines the reorganization benefit as the proportion of the creditor's rights after the bankruptcy reform,and it is specifically the proportion of the ordinary debt claims.The common debt claims amount is expressed as the reorganization net cash flow..Among them,there are differences in the cash inflow methods of the operating retention model and the backdoor listing model,and therefore they should be considered separately when conducting reorganization valuation.For the case company,this paper analyzes its bankruptcy reorganization model and selection basis,and evaluates the reorganization value from both quantitative and qualitative perspectives,which verifies the rationality of the bankruptcy reorganization model selection.This article suggests that enterprises should reasonably choose the bankruptcy and reorganization model according to their own situation.At the same time,China should carry out the necessary system construction for the backdoor listing,regulate and guide the backdoor listing behavior;the government and the market also need to provide looser and more stable choices for the bankruptcy and reorganization model.Environment;According to the bankruptcy reforming model,carry out appropriate reorganization value evaluation to better provide decision-making reference for creditors,investors and other stakeholders.