债转股的风险和防范

文档编号:CW187  文档字数:14802,页数:19

债转股的风险和防范

 摘要
 实施债转股是我国国企改革体制上的创新。然而，债转股在化解国有企业债务的同时，企业经营风险、市场竞争风险、道德风险是客观存在的。因此，企业债权不能简单的不受限制的转为股权。对已实施债转股的企业要进行战略调整。同时，要设置预警系统、风险防范系统和其他方法来防范风险。但作为一项政策，债转股的实施却面临着各种风险因素的阻碍，因此如何认识并防范这些风险就显得愈加重要了。本文在分析了债转股的定义和实施程序的基础上，深入地分析了我国在实施债转股过程中风险的形成原因，旨在减轻国有企业债务负担，促进国有企业健康发展。最后，通过对我国实施债转股存在的风险，提出防范。

［关键词］债转股；风险；国有资产管理公司；防范措施

［文档类型］应用研究型

Risk and Countermeasure in Debt into Equity

ABSTRACT
 It is an innovation in China's state enterprise reform to change creditor right into stock right. However, while it settles the enterprise's liabilities, there exist enterprise management risks, market competition risks and moral risks. Therefore, enterprise creditor right should not be simply and unlimitedly changed into stock right, strategic adjustment should be made in the enterprises where the change is made, and at the same time early warning systems, risk relieving systems as well as other counter. However, implementation of this policy is risky. Its success depends on whether we can thoroughly understand the various risks and take effective measures to control them. Risks were examined in detail and suggestions were put forward. This paper analyzes the definition and implementation of debt-equity swap program, based on in-depth analysis of risks in the implementation process of the formation of Debt reasons, to alleviate the debt burden of state-owned enterprises, and promote the healthy development of state-owned enterprises. Finally, the existence of the risk of implementation of the Debt proposed prevention.
［Key Words］Debt into Equity；risk；Asset Management Corporations,
 Countermeasure
 
［Type of Thesis］Applied Research

目录
1 引言 1
1.1 国内研究现状 1
1.2 国外研究现状 2
1.3 选题目的和意义 2
2 债转股的定义及实施程序 3
2.1 债转股的定义 3
2.2 债转股的实施程序 3
3 债转股风险的主要表现 4
3.1 金融资产管理公司的安全风险 4
3.2 赖帐经济，酿成道德风险 5
3.3 债转股过程中的竞争风险 5
3.4 债转股过程中定价的风险 6
3.5 国家财政的负担风险 6
4债转股风险产生的原因 8
4.1 企业经营者的素质 8
4.2 没有严格把握债转股准入关 8
4.3 国有商业银行及金融体系的现状 8
4.4 债转股没有改变企业的经营机制和股权结构 9
4.5 金融资产管理公司处置不良资产缺乏有效的风险防范措施 9
5 债转股风险的防范对策 10
5.1 全面提高经营者的素质 10
5.2 加大对实施债转股企业的甄选 10
5.3 健全企业的经营机制和股权结构 11
5.4 为“债转股”的实施创造良好的条件 12
6债转股案例分析 13
6.1 案例简介 13
6.2 案例分析 13
7结束语 14
参考文献 15
致谢 16

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