【作者】 柳卓超；

【导师】 胡艳；

【作者基本信息】 武汉理工大学 ， 技术经济及管理， 2005， 硕士

【摘要】 资产剥离作为一种资本运营技术,在提高资产存量效率,实现产业结构调整等方面发挥着极其重要的作用。西方国家在长期的市场经济实践中对企业资产操作进行了深入研究,形成了较为系统的资产剥离理论。我国的企业资产剥离是伴随着国有企业改制上市的过程中出现和发展起来的,通过资产剥离达到改制上市条件是国有企业改革的重要途径。同时,随着我国证券市场的建立和发展,资产剥离也正逐步成为上市公司资本操作的一种重要工具。本文回顾了资产剥离在国外的发展历程,对资产剥离在我国的发展情况以及我国上市公司资产剥离特征做了简单介绍,分析了资产剥离理论和探讨了我国企业资产剥离的一般原则。着重分析了湖北上市公司资产剥离情况,以7家上市公司为例,分析和比较了他们的资产剥离背景、资产剥离方案、资产剥离绩效。然后,以全国上市公司资产剥离动因作为参照对象,分析了 湖北省7家上市公司资产剥离动因。最后还对层次分析法在资产剥离中的应用研究。 全文共分六章: 第一章,主要讲叙了本论文的研究背景、研究意义和目的、研究方法,并总结了国内外资产剥离的研究现状和一些代表人物。本章内容为以后的研究提供了研究方向。 第二章,阐述了资产剥离的定义和国内外对资产剥离的不同解释,然后回顾了资产剥离在国外的发展历程,介绍了资产剥离在我国的发展情况和我国上市公司资产剥离的特征。这章可以看出资产剥离在国内外的微小差别。 第三章,介绍了资产剥离的理论,并对我国企业实施资产剥离时的操作原则做了探讨。这章为以后的实证分析提供了理论知识。 第四章,分析了湖北上市公司资产剥离情况,以在2002年和2003年发生资产剥离事件的7家上市公司为例,分析并比较了这7家上市公司资产剥离背景、资产剥离方案、实施资产剥离后取得的绩效。这章属于实证研究。 第五章,分析和总结了全国上市公司在上市前后的资产剥离动因,并以他们为参照,分析湖北省上市公司资产剥离动因。 第六章,对把层次分析法应用于资产剥离决策做了研究。这章属于方法讨论。更多还原

【Abstract】 Divestiture, as a tool of capital manipulating, plays an important role in advancing the efficiency of inventory assets and adjusting industrial structure. Divestiture has been applied widely overseas, which has become a well-rounded capital operational mode. Divestiture in our country is appeared and developed goes along with state-enterprises reorganizing to come into market, it has been an important way for state-owned enterprises to enter the market through divestiture to reach the condition on markets. At the same time, along with our country stock market established and the developed, the divestiture also gradually is becoming one kind of important tool to manipulate capitals for the listed companies. This article reviewed the course of divestiture developed in the overseas, made simple introduction with divestiture in our country’s development situation as well as the characteristic of divestiture for listed company in our country, analyzed the theory of divestiture and has discussed the general principle which our enterprise should obey when made divestiture. The article analyzed the situation that listed company made divestitures in Hubei province with emphasis, took 7 listed companies as the example, analyzed and compared their background, plan, and the achievements of divestiture. Then, it made the motive of divestiture for listed companies in our country as the reference object, analyzed the comparable motive of listed companies of Hubei. Finally it made research that AHP applied in the course of divestiture.Chapter 1.This chapter mainly sets forth the background, significance, purpose and method of research, and summarized the present research situation of divestiture and some representative person in the domestic and foreign. It provides reference for following study direction.Chapter 2.This chapter elaborated the definition of divestiture and the respective expiations about divestiture in domestic and foreign, then reviewed the developing course of divestiture overseas, introduced divestiture in our country’s development situation as well as the characteristic of divestiture for listed company in our country. We can found out the minute difference of divestiture from this chapter.Chapter 3.This chapter analyzed the theory of divestiture and discussed the general principle of divestiture for our companies. This chapter provided theory for following research.Chapter 4.This chapter analyzed the situation that listed company made divestitures in Hubei province, made 7 listed companies which made divestiture during 2002 and 2003 as the example, analyzed and compared their background, plan, and the achievements of divestiture. This chapter belonged to practical research.Chapter 5.This chapter analyzed and summarized the motive of divestiture for listed companies in our country, then made them as reference, analyzed the comparable motive about 7 listed companies of Hubei.Chapter 6.This chapter made the research that applied AHP with divestiture decision. This chapter belonged to discussion of method.更多还原