Research On Bankruptcy Reorganization And Financial Performance Of W Enterprise

At present,the epidemic continues to threaten the security of human society,and external conflicts have intensified the risk of inflation worldwide,making the economic and market environment more complex and challenging.Due to poor operating efficiency,some enterprises survive only with the support of their parent companies and the help of local government economic departments,and gradually become "zombie enterprises".If the company is temporarily in economic difficulties and still has market value and commercial value,the mechanism of bankruptcy reorganization is to save these enterprises with maximum strength and give it another chance.Therefore,most bankrupt enterprises will choose to implement bankruptcy reorganization procedures when facing difficulties.However,after the implementation of restructuring procedures,some debt enterprises only realized profits for a short period of time,but began to show losses several years later.The reason is that after the successful restructuring,relevant parties only pay attention to their short-term profitability.Therefore,to judge whether the bankruptcy reorganization is really successful,we should not only observe its short-term profitability,but also analyze its long-term operation and development.This paper selects W enterprise as the sample object to study the performance changes after bankruptcy reorganization.This paper first briefly introduces the basic situation of W enterprise,detailed W enterprise in 2018 and 2019 two years during the bankruptcy restructuring procedures of specific measures and restructuring plan,and then analyzes the main reasons for the implementation of the bankruptcy restructuring procedures.Then,this paper also uses the event study method,through the statistics of THE excess rate of return and cumulative excess rate of return of W enterprise,explore the changes in the corporate performance effect before and after the bankruptcy of W enterprise,and then use financial indicators to analyze,from four aspects compared the financial performance changes before and after the bankruptcy of W enterprise.Finally,the factor analysis method is used as a supplement for the financial analysis of W enterprise,and the comprehensive evaluation of the effect of bankruptcy reorganization of W enterprise.Finally,three reasonable and universal opinions are given on the problem of enterprise bankruptcy and reorganization:one is to make comprehensive use of various debt repayment methods to resolve the debt crisis flexibly;Secondly,constantly improve the bankruptcy reorganization system;Finally,the selection of professional,strength of the restructuring party,restructuring plan to conform to the law of the market.