On The Improvement Of Commercial Debt-for-equity Swap System Of Our Country

The debt-for-equity swap,as a new mode of capital operation,was born in Crediteconomy era，It provides a entirely new method to solve the problem of current largenumber of enterprise financing.The commercial debt-for-equity swap was the result ofusing the debt-for-equity swap into commercial environment.At present our country’scommercial debt-for-equity swap system is still in the primary establishment stage，it hasmany inadequacies,We should constantly verify results from the practice,to accumulateexperience， and improve our country’s commercial debt-for-equity swap systemgradually.So the commercial debt-for-equity swap system can give full play to its positivefunction.In this paper,author will seize the characteristics of commercial debt-for-equityswap,to conduct a comprehensive and systematic analysis about commercialdebt-for-equity swap from the matter of basic theory and present situation，Dissect thedrawback it has,and pertinently put forward the solutions.In the first part,anthor will introduce the concept and characteristics of commercialdebt-for-equity swap system, separate from other similar concepts,and looking into thebasic issues about commercial debt-for-equity swap system, include the properties of debtand stock right and the feasibility analysis about commercial debt-for-equity swap.The second part author will dissect the development about our country’s commercialdebt-for-equity swap from the development course,and elaborate the specific operatingprocedures and rules,to provide basis for looking for the places where need to improve.The third part,author will list the defects what the present commercial debt-for-equityswap system have,from the two matters of Legislation and reality to elaborate what thedefects are,to do foreshadowing for following chapter five.The fifth part is the emphasis of this paper,author will systematically expounded theidea about improving commercial debt-for-equity swap system of our country.firstly talking about the experiences of foreign country and Taiwan,point out the places where wecan learn from it；secondly the author will introduce some truly original imagination toimprove the commercial debt-for-equity swap system both macroscopically andmicroscopically in the future.