我国国有企业改制重组与上市问题探讨

【作者】 周敏玲；

【导师】 杨波；

【作者基本信息】 东北财经大学 ， 企业管理， 2002， 硕士

【摘要】 改革开放以来，国有企业的 改革经历了放权让利、利改税、承包制、建立现代企业制度的漫长历程，取得了巨大的成绩，也积累了丰富的经验。对于大型国有企业来说，持续不断的深化改革是搞好国有企业的动力，重组改制与上市是促使其固本强身、发展壮大的战略举措。2000年以来，股票的发行上市制度发生了巨大变化，首先，尽管国内创业板市场正在酝酿之中，但创业板极大的支持了具有高技术含量、高成长性的中小企业改制重组，以公开发行股票。其次，国内主板市场取消了发行额度，改为核准制，这使得对一些企业的包装比较困难。因此，对拟上市公司进行资产重组的星星之火，迅速发展形成了燎原之势。实践也表明：改制重组不仅使不少企业焕发了生机和活力，使其形象大为改观，而且也确实提高了企业的“硬件”实力，使其经营规模和经营效益出现前所未有的变化。然而，由于改制涉及的企业面广，加上不同企业所处的经营环境不同和改制时运作的具体方式方法各异，所以，在实践中企业的改制效果以及由此影响到的企业未来发展也就自然而然的呈现出迥然不同的情形。目前有些企业由于改制的非规范操作，已经暴露出许多问题，这在一定程度上影响到改制后企业的健康发展。因此，对拟上市公司改制重组与上市进行全面系统的研究评价，正当其时，具有很强的现实意义。文章拟从分析我国国有企业改制重组与上市的现实意义出发，指出目前国有企业所出现的融资困境原因，不仅仅是企业的资产负债结构的问题，而且是整个企业制度的问题。国有企业改制上市目的首先在于改制，其次才是融资。而后，文章分析了改制重组的模式与运作过程、国有企业的上市途径与上市过程及其中遇到的问题等。依据此框架，文章最后剖析了北京博飞仪器股份有限公司改制重组的案例，借此实现理论与实践的结合。更多还原

【Abstract】 Since the reform and open up of China, the course of the state enterprises’ reformation have gone through delegating power and cutting profits, switching from profit delivery to tax, managerial responsibility system of contracting, and building modern enterprise management system. We have got much achievement and experience. It’s known that continuous and deep reformation is the motive force of the development of the state enterprises, and that the company reorganization and be listed is the important strategy of the development. Since the year 2000, the rules of issuing stock and company be listed have changed tremendously. First, though the second internal stock market has not turned up, it supports the middle or small companies greatly to reorganization and issue stock publicly who product high-tech products and grow quickly. Second, in the primary internal stock market the rules of issuing stock publicly changed from limitation the quantity to examination. It made it difficult to help companies to be listed by packing. So company reorganization like a single spark soon became a prairie fire. The practice also tells us that reorganization have made lot of companies vigorous and improved the companies’ business scale and management benefit more than ever. But reorganization condition and way of operation are different, so the reorganization result is widely different. Now some companies’ operation is not standard, it exposes many problems. So it’s time for us to research systematically how to reorganize the company and make it be listed standard. It has much more realistic significance. The article first analyses the realistic significance of the company reorganization and company be listed, it points out that the reason of company’s finance difficulty is not the structure of asset, but the enterprise management system. The primary purpose of the state enterprises reorganization and trying to be listed is to reform the enterprise management system, the secondary reason is to raise funds. Then the article analyses the models of reorganization and the process, the way of the state enterprise how to be listed and the process, the problems it will meet in the processes. Finally the article analyses a example of a company, it is wished to bring about the mixture of the theory and the practice.更多还原