Researched On Joint-stock System Reform Model Of Changsha Construction Engineering Group

Joint-stock system is an efficient way of capital formation and business organization form, which is the best choice that upholds public ownership as well as exerts the role of market. Transforming state-owned construction enterprises into joint-stock ones is an integral component in the state-owned enterprises reform in China. But the sustainable development of the state-owned construction enterprises is hindered because there is a main problem that is obscurity of property during its development. So it is correct for them to develop the stock economy and realize diversified sources of investment in the process of reform and development. The thesis is based on this to study the joint-stock system reorganization model of Changsha construction and engineering Group Ltd.Firstly, it concludes, analyses and reviews the existing research results and describe the theoretical basis about joint-stock system reorganization. The part starts with retrospection of the history and analysis of the status about the enterprise, and then comes to the conclusion that the choice for reform is necessary and urgent in Changsha construction and engineering Group Ltd.Secondly, it analyses the rational standards which will be selected by Changsha construction and engineering Group Ltd to reorganize the stock. It comparatively studies the direct reform model (onetime integral reform model), isolated reform model, merger model by assumption of debt, management buy-out model(MBO), bankruptcy recombination model, capital increase and shares expansion model. According to the practical situation in enterprise, it is found that there is no single model that is suitable for the reform of Changsha construction and engineering Group Ltd. Therefore, the thesis proposes a mixing model which is the combination of the direct reform model and the management buy-out model. And it analyzes design principles of reform scheme and the problems when reform is carrying out, including the property right relationship, the personnel placement, the set of stock right in new enterprise, and so on. Then it puts forward countermeasures.Finally, it designs the reorganization model of joint-stock system for Changsha construction and engineering Group Ltd based on rational reform, expecting to assist the enterprise to reorganize the joint-stock system successfully.