發(fā)布時間：2018-03-17 18:06

  本文選題：國有資本　切入點：國企杠桿率　出處：《財政研究》2014年08期 　論文類型：期刊論文

【摘要】：中國企業(yè)杠桿率偏高,主要債務(wù)在國企。國企包括央企和地方國有企業(yè),現(xiàn)在產(chǎn)業(yè)布局與國企定位偏離,不僅分布在國家安全、公共服務(wù)和自然壟斷領(lǐng)域,也大量進(jìn)入到競爭性領(lǐng)域。解決國企債務(wù)高企問題,應(yīng)該退出競爭性領(lǐng)域,將獲得的資本金補充到國企職責(zé)領(lǐng)域。具體的實施措施為:建立從非上市公眾股權(quán)轉(zhuǎn)讓系統(tǒng)到定向增發(fā)直至上市公司的金字塔結(jié)構(gòu)的多層次資本市場體系,組建全國性的國有資本管理公司,實施包括債務(wù)在內(nèi)的資產(chǎn)證券化,在產(chǎn)業(yè)布局中有進(jìn)有退解決國企債務(wù)過高問題,同時實現(xiàn)國企改革到國有資本改革的提升。
[Abstract]:The leverage ratio of Chinese enterprises is on the high side, and the main debts are in state-owned enterprises. State-owned enterprises include state-owned enterprises and local state-owned enterprises. Now the industrial layout deviates from the orientation of state-owned enterprises, not only in the areas of national security, public services and natural monopoly. They have also entered the competitive field in a large number. To solve the problem of high debts of state-owned enterprises, we should withdraw from the competitive field. The specific implementation measures are to establish a multi-level capital market system from the transfer system of unlisted public shares to the pyramid structure of the private placement until the listed company, The establishment of national state-owned capital management companies, the implementation of asset securitization, including debt, in the industrial layout of the solution to the problem of excessive debt of state-owned enterprises, at the same time to achieve the state-owned enterprise reform to state-owned capital reform.
【作者單位】： 大公國際資信評估有限公司;中央電視臺;
【分類號】：F275;F276.1;F832.51

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本文編號：1625864