Research On The Motivation And Performance Evaluation Of The Bankruptcy And Reorganization Of Pangda Group

In recent years,the downturn of China’s market economy has intensified the competition of enterprises and faced more and more risks and challenges.If the poor operation leads to the poor operation of funds,it is very likely to make enterprises fall into financial difficulties and even bankruptcy,and the bankruptcy of enterprises will have a series of adverse effects on stakeholders and the public.Therefore,the enterprise bankruptcy law of the People’s Republic of China introduced and used the bankruptcy reorganization system for the first time in 2007 to provide opportunities for enterprises that have the opportunity to revive themselves.Enterprises can forcibly adjust their interest relations and improve their operation and management through reorganization,so as to avoid bankruptcy liquidation.At present,this system has become the most effective and widely used way to save enterprises on the verge of bankruptcy.Although the system has made some achievements in bankruptcy reorganization,there are still many uncertain factors in the actual development process.In this regard,through the study of the bankruptcy reorganization case of a large group,this paper can provide reference for the mode selection and scheme design of the reorganization of listed enterprises in China,and make investors have a certain understanding of the scientificity of bankruptcy reorganization.This paper focuses on case analysis and uses the method of theoretical analysis to deeply analyze and study the reorganization case of huge group.The theoretical part of the article first introduces the relevant concepts such as bankruptcy reorganization and enterprise performance,and discusses the operation value theory,stakeholder theory and social policy theory,which provides a theoretical basis for the later research.In the case analysis part,it comprehensively combs the bankruptcy and reorganization process and motivation of the huge group,makes a quantitative analysis on this basis,comprehensively compares the market performance and financial data before and after the bankruptcy and reorganization of the huge group,and verifies and objectively evaluates the reorganization plan.Giant group is a classic case of bankruptcy and reorganization in the capital market.It is not only representative,but also novel.Through the analysis of the bankruptcy and reorganization cases of giant group,the conclusions of this paper are as follows:(1)due to the blind expansion and cold industry,the giant group was heavily indebted,and the enterprise suffered huge losses in 2018,from a high-quality listed company to a company on the verge of bankruptcy.When facing internal and external pressure,It is very necessary to choose bankruptcy reorganization;(2)The large group has achieved good results in bankruptcy reorganization,significantly improved its short-term performance,guaranteed the interests of relevant parties,helped enterprises get out of the debt crisis and avoid bankruptcy liquidation;(3)The debt Committee of giant group has explored and practiced an innovative path from agreement restructuring to judicial restructuring for large troubled enterprises,which can provide reference ideas and methods for subsequent enterprises that need bankruptcy reorganization.According to the conclusion of the paper,this paper puts forward some enlightenment and relevant suggestions,such as selecting a reasonable reorganization model to improve the success rate of reorganization,which has a certain reference value for China’s listed companies to solve the difficulties faced in bankruptcy reorganization.