Mergers And Acquisitions And Restructuring

Currently, the economic system has been changing in our country. The State Owned Enterprises(SOE) in our country was established in the time of the planning economic system. After reforming and opening to the outside, the governor has carried out a series reforming methods into practice for the management system of the SOE, including implementing competition system and market economic system step by step. According to various financial indexes, the present asset-liability ratio of our SOE is too high and the refunding ability is too low, which has deferred the deepening reform of SOE. In this article, I expound the idea of the merger and reconstruction of the enterprise and its economic theory, analyze the reason and the function of the merger and reconstruction as well as the recent practice of the merger and reconstruction of the enterprise in foreign countries, and then according to the situation of the economic and the SOE in our country, put forward that the merger and reconstruction of the enterprise can be applied to the reforming of the SOE in our country , and also research the model, the debt, the action of the governor and the relative problems appeared in the course of the merger and reconstruction of the SOE. I write this article just to provide a method for the reforming of the SOE in our country.In the first article, introduce several current important merger and reconstruction theory in the world, especially analysis the reason and facilities of merger and reconstruction. We can get the result that through merger and reconstruction the company can share with each other their own strength including marketing, technology, know-how and experience and get the advantage in the competition to distribute the resources effeciently and reasonably to low the operating risk as a result.At the beginning of the second article, introduce the orientation of the international merge and reconstruction, analysis several typical merge and reconstruction cases, including Boing merge Midao, British SOE's reforming, the developing of Korea's leasing, and also analysis the several merge and reconstruction models. And then introduce a series state policies on this matter. On the basis of the above analysis, facing the current situation of our SOE, It is mentioned in the third article that the necessity and importance of the SOE's merge and reconstruction, especially from four sides, including capital, management, organization, and human resources, bring forward the new ideas of packing reforming on SOE after merge and reconstruction.