Study On The Influence Of New Debt Restructurings Accounting Standard To ST Listed Companies In China

After the Ministry of Finance first issued the Debt Restructuring Accounting Standards in 1998, it has undergone twice revisions in 2001 and 2006. In February 15,2006 the Ministry of Finance issued 38 specific criteria and the basic norms of the new set of accounting standards system. It marks the convergence with International Financial Reporting Standards Accounting Standards System formally established, to improve the socialist market economic system and raise the level of opening up the global economy were to accelerate China's integration is of great significance. Whether the new standards of debt restructuring of 2006 can avoid the problems after the 1998 version of standards was put into use, the possible problems that may appear when it is in operation and how to use the new accounting standard reasonably become the focus of our attention. This thesis mainly study on the influence of new debt restructurings accounting standard to ST listed companies in China.First, used comparative law between the new debt restructurings accounting standard and the old which issued in 2001, analyzes the changes and the internal reasons. Second, using standardized research methods, proposed the existing problems of debt restructuring at this stage of China. Using empirical studies method, select stocks which the ST company dose debt restructuring, from the A-share market in 2007 when issued the new standard as a major research samples and select such the same company in 2008 and 2009 as a comparison of data, analyzes the impact of new standard on debt restructuring which from short-term solvency, long-term solvency, operating capacity, profitability and performance.At the end, in view of the specific situation of listed companies, proposed some specific policy proposals.