Research On The Impact Of Kaisa Group's Debt Restructuring On Corporate Performance

In recent years,facing the fiercely competitive market environment and the pressure of economic transformation,many listed companies have fallen into financial crisis due to irrational governance structure and improper business decision-making,resulting in a series of adverse consequences.Some companies have embarked on the road to bankruptcy due to their heavy debt burden,which is actually not the best choice for companies.Debt restructuring could improve the operating efficiency of company and optimize the allocation of community resources,it has become an effective way to solve the bottleneck of enterprise development.However,whether the implementation of debt restructuring can improve the operating performance of listed companies and improve their future development capacity remains to be studied,and the theoretical and practical circles are paying increasing attention to this.Kaisa Group Holdings Limited was established in 1999 and is headquartered in Hong Kong,China.It was successfully listed on the Hong Kong Stock Exchange in December 2009.In December 2014,Kaisa Group fell into a debt crisis due to the changes in the company's board of directors,which triggered the relevant provisions of the loan repayment agreement.The group has started debt restructuring including domestic and overseas since March 2015.The restructuring agreement took effect on July 21,2016.This article uses case studies,literature studies,accounting studies,and event studies to study Kaisa's debt restructuring and its impact on company performance.The article starts with the basic situation of Kaisa,discloses related problems,and analyzes in detail the reasons,processes and methods of Kaisa 's debt restructuring.This article's performance analysis of Kaisa mainly focuses on the changes in financial and market aspects of Kaisa 's debt restructuring.First,it uses financial indicators to analyze Kaisa 's solvency,profitability,operating capacity and development ability.In addition,it uses the event research method From the market performance to analyze the performance changes of Kaisa,and finally introduce the industry's average data to conduct a comparative analysis with Kaisa.The research results show that Kaisa 's debt restructuring has a positive impact on the Group 's financial performance and market performance.