Study Of The Reorganization Of Assets Of State-owned Enterprises

Under the large background of high tides of the enterprise merger and acquisition (henceforth M&A) happened in the world, people are paying more and more attention to the assets restructuring of our state-owned enterprises. But there are also a numbers of misunderstandings in the assets restructuring. The practical work is also restricted by the administer system, the exterior environment and the other factors. Therefore in the article, I am researching the problem of the assets restructuring of the state-owned enterprise. The studying is of the important theoretical and realistic meaning.The first of all, this article defines the theory concept of the assets structuring and the assets restructuring, and analyzes the forms of domestic and foreign assets restructuring, also discusses the correlation theories of western countries on the causes of M&A. Then it depicts the five tides of M&A after the second Industrial Revolution, and analyses the government roles in the restructuring .The article disserts the practical experiences and lessons of the restructuring in the western countries, and provides the experiments of the state-owned enterprises assets restructuring.Then the article analyzes the status quo of China's current enterprise restructuring and points out that the assets restructuring will enlarge the enterprise scale continuously, that the organizational structure of enterprises is going into the rationalization. The enterprise operation is more multiple ways and profession, thus promoting the development of the state-owned enterprise reforms and economy .It disserts the reason for bringing out the present form of the recombination according to adjusting property structures, deepening the enterprise reforms, coming through the scale economy. On the whole, there are some misunderstandings existing in the restructuring practice, such as serious short-term behavior, it points out that the origins obstructing the deep restructuring lie in insufficient extent of system reform, unclear property right and the wrong roles of the government.Next, the article deals with some important questions concerning how establishing the withdrawal mechanism of the state-owned enterprise and the govern-owned economy according to the assets merger of the state-owned enterprises, because it's of the active function of developing China's economy and enterprises. It's good for adjusting property structures, normalizing the market behavior of the state-owned enterprise, improving the enterprise's profit, cultivating the rational investment philosophy, developing and perfecting China's securities market, etc. The main factor that restricts establishing the withdrawal mechanism of the state-owned economy and enterprises is the system drawback besides the simple ones. For example, the imperfect market system, etc.Finally, The article aims at the existing problems and drawbacks in the assets merger of the state-owned enterprise, meanwhile, borrows the experiments and lessons from the western countries and conjoins the actual condition of China, systematically, brings up a series of policy suggestions that help to promote the enterprises merger.