Choice Of Debt Restructuring Of State - Owned Listed Companies

With the gradual developmentof the capital market,debt restructuring has become the choice of listed companies improve business performance, its financial difficulties of a more general economic activity, while China’s listed companies in particular have fallen into financial distress oflisted companies, which carry out debt restructuring issues related to the status quo and characteristics of activities and the implementation of the reorganization of the economic impact of listed companies has gradually become thefocus of more attention of scholars. In addition, the state-owned listed companies to promote the company implemented restructuring matters, from the long-term strategic level to consider the relationship between the interests of the overall planning of each body, strengthen the normative and integration, the role of state-owned listed companies, enhance economic influence, and secure its core position in the market system. Debt restructuring is a com;any to resolve the debt crisis in an effective way, and through this economic activity but also the company’s debt structure is maintained at reasonable level, so as to enhance the operating efficiency, and promote the integration of the company’s structure, strengthen the governance, make state-owned goes on the market the company to become the real subject of the market economy.Based on the extensive search, inspection of assets debt restructuring theory, basic financial distress as well as related research literature on ST’s integrated use of literature research, qualitative analysis method, case studies and other methods, theory with practice, the energy of the East before the implementation of the debt restructuring activities were described and analyzed by means of dynamic game theory to study the way the nature of the state-owned listed companies in China during the debt restructuring activity of choice.Trough research, the paper argues that: debt restructuring can effectively get rid of the financial crisis, enable enterprises to avoid the risk of delisting, and the state-owned listed companies in order to have a good development, we must have the ability to blood, blood transfusion is simple a temporary shareholder radical solutions, can make full use of government power to achieve optimal allocation of resources and integration.