A Study On Assets Rearrangement Of Listed Company In Our Country--Research On Index System Of Performance Appraisal

From Deng Xiaoping's south patrol which caused China new rounds of climax of economic development to the 15th National Congress of the Communist Party of China which propose supporting enterprises and enterprise group to carry on the rearrangement of assets, enterprises of security market take place many climax of rearrangement of assets. All kinds of rearrangement of assets case not only offer numerous valuable experience for mode of our country resource distribution effectively, but also improve Our country's whole economic structure, organizational form of enterprise. New premier of government Wen Jiabao emphasizes strategic restructure of economic and continuing and expanding open to the outside world to be the two keys that must do a good job of our country economic construction. So assets rearrangement's function show especially.The rearrangement of assets is regarded as the way of resource distribution that mutual adjustment and change among different legal person proprietary, contributor ownership and creditor creditor's rights accord with purpose of maximum of capital appreciation. The recombination of property right is the tie of assets rearrangement. Rearrangement of assets is the concrete display form of recombination of property right. See from content both rearrangement of assets and recombination of property right finally reflect the transformation, exchanging and altering of the property right, But the rearrangement of assets includes the content which much more extensive than the recombination of property right. The purpose of assets rearrangement and capital operation is to realize the maximum of appreciation finally. But they can not be equate, because the rearrangement of assets is not merely limited to the range of a certain enterprise, it involves one trade or even one national adjustment of economic structure. Rearrangement of assets must take place on certain basis. First, distinct property relations can offer the basis for right enjoy and distribution between different subjects and fulfill the rearrangement of assets. Secondly, perfect capital market can offer a place where stock, proprietary and transformation of control can flow rapidly. According to different criteria for classification, the rearrangement of assets can be divided into different kinds. Such as which can be divide into production-management model, capital-management model and the mix of production-management and capital management model in accordance with the purpose of rearrangement. In order to maintain the government's, enterprises' and relevant person's rights and interests3among assets rearrangement, and for the sound development of national economy and the stability of society, the six principles needed such as clearly established ownership, being legal at the time of carrying on the rearrangement of assets and so on. After Chinese joining into WTO, rearrangement of assets can improve international competitiveness of the whole country, the trade and the enterprises.In our country the behavior of assets rearrangement and security market nearly born at the same time .For listed company's special status among national economy, the rearrangement of assets of the security market is paid close attention to by people day by day. By researching of the behavior of listed company's assets rearrangement of our country, we can figure out the reasons that constantly causes rearrangement of assets of listed company of our country, they are macro-factor such as economic development cycle etc, mid-factor such as Industrial structure and micro factor such as listed company guarantee shell resource with finance qualification etc. In our country listed company's rearrangement of assets are mainly through share transfer, divestiture, assets replacement, merger and debt recombination. Because in our country listed company's rearrangement of assets have government get involved dark, relevant laws and regulations are imperfect and lack of intermediary institute at present. It asks for the government society and relevant or...