Research On The Impact Of Bankruptcy Reorganization On Corporate Value From The Perspective Of Property Rights

Great changes have taken place in the economic environment,the global economic growth slowed down gradually,the process of industrial upgrading,the market competition is fierce,the threat of bankruptcy may come at any time,bankruptcy has become an unavoidable topic.Bankruptcy reorganization,bankruptcy liquidation and reconciliation are the bankruptcy procedures stipulated by China's new bankruptcy law.Among them,the bankruptcy reorganization is a special procedure,different other execution which are adhere to drop out,and bankruptcy give the hand enterprises which there are still have economic efficiency an opportunity to restore,this execution can reduce the loss of the creditors and shareholders in a certain extent.So this execution is considered to be a more effective way to save difficulties.Bankruptcy reorganization involves the interests of investors,creditors,debtors,and even the government,and the process is complex,high economic costs,there is no large-scale use abroad.In our country,with the June 1,2007 People's Republic of China "enterprise bankruptcy law"(hereinafter referred to as the "enterprise bankruptcy law")into effect,people pay more and more attention to the enterprise bankruptcy reorganization,because of it has many benefits,there appeared the upsurge of bankruptcy reorganization.Each listed company of our country reforming program there will be more or less involved in the reorganization of administrative power,whether it is indeed necessary or blindly,administrative participation right which is legitimate,whether the reorganization really brings to the enterprise value are worthy of attention.Since the reorganization involves many stakeholders,many researches focus on the protection and balance of the interests of all parties in the reorganization.Therefore,this paper focuses on the value of the reorganization of listed companies,and focus on the impact of the executive power on the enterprise value.Different companies are chosen in this paper and the results are analyzed and compared.Through analysis and comparison of the reorganization of the value,we can draw relevant conclusions,furthermore we can provide reference for the similar enterprises,after the reorganization plan.