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Between Bank Debt Restructuring: The Institutional Analysis And The Financial Explained

Posted on:2002-12-03Degree:DoctorType:Dissertation
Country:ChinaCandidate:S XiaFull Text:PDF
GTID:1116360065450376Subject:Industrial Economics
Abstract/Summary:PDF Full Text Request
The general outline of the thesis as such that, on one hand, making research on the issues of banking, enterprise and economical pattern of finance with an approach to institutional analysis, firstly, to beginning with two causes to both fmancing-and-investing system distortion of enterprise-banking debt and negotiable constrain of property right, pointing out that the essential of debt reconstruction of enterprise-banking with the main content of debt-into-stock remains in the reconstruction of both property right system and corporation mechanism. As to the reconstruction of the property right system, it should be involved with the property right system of state-owned enterprise and the one of state-owned banking, while referring to the reconstruction of corporation mechanism, not only with the instituting and perfecting of corporation governing mechanism, but also with the switching of the corporation financing mechanism. On the other hand, with the help of some relevant finance theories, explaining some matter as to the operating of financial institute, the cash-exchange of stock, and the innovating of financial media products. The inner logic relations between two sides lies in that China inmost target on the debt reconstruction of enterprise-banking is to overcome the difficulties in the soft budget constrain and incomplete property right in state-owned enterprises through the switching and disposing of debt, while the way to solve all problems remains in institution innovation, at the same time, the fundamental prerequisite for the institutional innovation of state-owned banking and enterprise remains in the effective switching and disposing of the debts on premise of avoiding "moral hazard" and "discredit economy ", furthermore, the effective disposing of the debts must depend on capital markets, financial methods, and finance services. The thesis is consists of six chapters as follows:The first chapter, 'introduction', generalizing the research background and significance of the thesis, demonstrating the stand-state of the research home and abroad and some potential difficulties about it, selecting the research method, defining some relevant concepts, and arranging the whole structure of the thesis.The second chapter, 'the retrospect and evaluation on the debt reconstruction of enterprise-banking'. Regardless the current scarcity of the theory accumulation on the debt reconstruction of enterprise-banking home and abroad, it is highly deserved to make a summary on the practiced models and some current theoretical probes. Firstly, the chapter has a survey on the disposing of bank liquidated assets on world wide, correspondingly gain some lessons and experiences; secondly, fully introduce four thinking way existing in China field of finance and economics theory, and has a evaluation about them. Finally, through the retrospect on the relationship between enterprise and banking during both planing-economy and transit-period in China, expound the defects on capital asset system in the fiscal regime, and the formulationof financing-investing mechanism and debt of state-owned enterprise, as well as the nature of enterprise-banking debt. Furthermore, probing institutionally the deep-rooted causes to the formulation of enterprise-banking debts in China, suggesting that both the financing-investing institution distortion and the soft constrain of property right are the most important factors that give rise to massive accumulation of liquidated assets of state-owned banks, which is the thesis logic starting point to analyses institutionally the debt reconstruction of enterprise-banking.The third chapter, 'several theories on finance operating in the debt reconstruction of enterprise-banking'. The model and nature of finance assets management corporation is analyzed in the first section of the chapter, the general description on its operating model should enable ones to have a full understand about the newly finance organization~AMC~and also have a clear skeleton on the flow process of debt-into-stock;...
Keywords/Search Tags:debt reconstruction, institutional analysis, finance economics exploration
PDF Full Text Request
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