Analysis On Motive And Performance Of Debt Restructuring Of Listed Companies In China

As an important means of capital operation and also an important way to reduce financial risk of listed companies,debt restructuring more and more has been adopted by the listed companies in our country in recent years.The debt restructuring standard was revised in 2006,listing system and delisting system gradually improved,and the research on debt restructuring became more widely and deeply.Based on the related theory and the result of previous literature,58 cases of debt restructuring of listed companies in our country from 2011 to 2015 were collected in the paper,analyzed the motivation and the performance of debt restructuring.This article connect the motive and performance by dividing the listed company into two kinds,ST and non ST.On the basis of the above research,two representative cases were selected to study the motive and the performance in detail.Through research,found that the motive of debt restructuring of listed companies has both positive factors and negative factors,and the performance of debt restructuring has been improved.In addition,motivation and performance has positive relationship.Several proposals were put forward in this paper from the point of government,market,companies and investors.