The Research On Enterprises' Contracting Capital-operations

Expansion and contraction are two kinds of basic ways in enterprise's running. With the constant development of the capital market of our country, the merger, one of the mains way to expand for the enterprise, have already become the effective way of capital operation, more and more enterprises become stronger on the road of merging, and the merging have already become the keyword of capital market. However, at the same time, we must see that there is so many enterprises are becoming ineffective and also fade away in the capital market because of excessive expansion. As the opposite of expansion, the contractions important function in the running of enterprise is known for western business circles and theory circle earliest, and is applied to practice constantly. However, there are few enterprises realizes its importance in our country at present, though some enterprise perhaps having applied it to the practice negatively. From the development of history of western enterprise, the enterprises in our country will inevitability enter one relatively contraction period after the relatively expansion period. This thesis attempts to systemic research the enterprise contraction from the theory and demonstration aspect.Firstly, the thesis analyzes, summarize and expand the theory of enterprises' contracting capital-operations from the management and economics, which made the theory more perfects melting. This thesis point out that the essence of the enterprises' contracting capital-operations is capital contraction, and the purpose is to get the most added value.Secondly, on the basic of studying the all kinds of foundational contraction types systematically, this thesis build up the enterprises' contracting capital-operations decision model. Then, this thesis also analyze the risking resource of enterprises' contracting capital-operations, and point out the ways to evade the risk. In the hope of, these studying can guide the practice.Moreover, this thesis shows us 80 cases of listed company' divestiture in China in 2000. By building up integrated-point-function model, it makes comparison of the inclination of change of the listed company's purpose before and after contraction action. On this basis, this thesis also points out the period of contraction in China.Lastly, the author analyzes the issues and the contradictions in the enterprises' contracting capital-operations of Chinese enterprises and gives some advice to resolve those problems.