本文關鍵詞： 重組 并購 借殼上市　出處：《哈爾濱商業(yè)大學》2017年碩士論文　論文類型：學位論文

【摘要】：企業(yè)做強做大的最重要和最主要的途徑之一是通過資本市場進行資產(chǎn)重組,隨著我國證券市場的飛速發(fā)展,資產(chǎn)重組項目越來越受到關注。近年來,上市公司通過資產(chǎn)重組這一重要手段,使公司的產(chǎn)業(yè)結構得到了積極的調整,極大地促進了資本市場的發(fā)展。然而,由于我國的市場經(jīng)濟內部存在缺陷和不足,致使上市公司在資產(chǎn)重組時出現(xiàn)很多問題,亟需解決。HHJT作為HHJC的實際控制人,為了確保公司的持續(xù)經(jīng)營和發(fā)展,積極探索多元化發(fā)展的道路,陸續(xù)向關聯(lián)方收購商場、酒店等資產(chǎn),但上市公司整體經(jīng)營情況尚未發(fā)生根本性改善。因此2015年HHJC進行了一次規(guī)模高達300億元的重大資產(chǎn)重組,其目的在于完成上市公司的業(yè)務轉型,將更有競爭力的優(yōu)勢資產(chǎn)注入上市公司完成借殼上市。本文通過對HHJC公司的重大資產(chǎn)重組的案例進行深入研究,在對公司的基本情況及歷史沿革情況進行詳細介紹的基礎上,對HHJC公司資產(chǎn)重組的過程進行詳細剖析,在發(fā)現(xiàn)本次重組的亮點同時也發(fā)現(xiàn)很多有關資產(chǎn)重組的共性問題,如企業(yè)在資產(chǎn)重組時能夠選擇合理的重組方式以最低的成本完成資產(chǎn)重組,如何規(guī)避資產(chǎn)重組過程中的財務風險以及關聯(lián)交易帶來的不利影響,如何應對資產(chǎn)重組后企業(yè)的資產(chǎn)整合問題,針對以上問題,建議上市公司在選擇重組模式的時候能夠參考HHJC公司多元化的重組模式,在面對重組過程中的財務問題時應該妥善選擇評估方法、降低標的公司的資產(chǎn)負債率、發(fā)揮中介機構的監(jiān)督優(yōu)勢。在應對資產(chǎn)重組過程中產(chǎn)生的關聯(lián)交易定價難題時應參考國家標準、市場標準或成本加費用的標準來綜合確定關聯(lián)交易價格,力求做到關聯(lián)交易價格的統(tǒng)一核算。資產(chǎn)重組后,企業(yè)應該注重內部資源的協(xié)調整合,加強管理,確保經(jīng)營與管理的協(xié)調。
[Abstract]:One of the most important and important ways to make enterprises stronger and bigger is to restructure assets through the capital market. With the rapid development of China's securities market, asset restructuring projects have attracted more and more attention in recent years. Through the important means of asset reorganization, listed companies have made positive adjustments to their industrial structure and greatly promoted the development of the capital market. However, because of the defects and deficiencies in the market economy of our country, In order to ensure the company's continuous operation and development and actively explore the way of diversified development, it is urgent to solve the problem of "HHJT" as the actual controller of HHJC. In order to ensure the continuous operation and development of the company, it is necessary to purchase shopping malls from related parties one after another. Hotels and other assets, but the overall operating situation of listed companies has not yet been fundamentally improved. Therefore, in 2015, HHJC carried out a major asset restructuring of up to 30 billion yuan, the purpose of which was to complete the business transformation of listed companies. This paper makes a deep study on the case of major asset reorganization of HHJC Company, on the basis of a detailed introduction of the basic situation and historical evolution of the company, in order to complete the backdoor listing by injecting more competitive advantage assets into the listed company. This paper makes a detailed analysis of the process of asset restructuring of HHJC Company, finds out the bright spot of this reorganization and also finds many common problems related to asset restructuring. If the enterprise can choose a reasonable way to complete the asset reorganization at the lowest cost, how to avoid the financial risk in the process of asset restructuring and the adverse effects of related party transactions, How to deal with the problem of asset integration after the asset restructuring, in view of the above problems, it is suggested that the listed companies can refer to the diversified restructuring mode of HHJC company when choosing the reorganization mode. In the face of the financial problems in the process of restructuring, we should properly select evaluation methods to reduce the asset-liability ratio of the underlying company. When dealing with the problem of related party transaction pricing arising in the process of asset reorganization, we should refer to the national standard, market standard or cost plus expense standard to determine the related party transaction price synthetically. After the reorganization of assets, enterprises should pay attention to the coordination and integration of internal resources, strengthen management, and ensure the coordination of operation and management.
【學位授予單位】：哈爾濱商業(yè)大學
【學位級別】：碩士
【學位授予年份】：2017
【分類號】：F275;F279.26

【參考文獻】

相關期刊論文 前10條

1 孔令軍;周寶;王正軍;;靖遠煤電資產(chǎn)重組績效研究——基于事件研究法的實證分析[J];商業(yè)會計;2016年04期

2 楊凌日;趙文舉;張曾蓮;;基于事件研究法的企業(yè)并購融資績效研究[J];財政監(jiān)督;2015年32期

3 李師;;企業(yè)并購重組資產(chǎn)價值評估與交易價格關系研究[J];財會通訊;2014年08期

4 高方露;李會云;;經(jīng)濟結構戰(zhàn)略調整期企業(yè)并購融資績效[J];財經(jīng)科學;2014年01期

5 邱群;;房地產(chǎn)企業(yè)借殼上市財務績效研究[J];財經(jīng)界(學術版);2013年18期

6 羅詩藝;王杰;帥許飛;黃穎;王欣欣;;淺談借殼上市[J];現(xiàn)代商業(yè);2013年08期

7 江海瑩;;上市公司資產(chǎn)重組存在問題及對策研究[J];中國管理信息化;2013年04期

8 王鳳榮;高飛;;政府干預、企業(yè)生命周期與并購績效——基于我國地方國有上市公司的經(jīng)驗數(shù)據(jù)[J];金融研究;2012年12期

9 王鋒軍;;對我國上市公司資產(chǎn)重組問題的探討[J];企業(yè)研究;2012年14期

10 孫翠翠;薄建奎;;上市公司資產(chǎn)重組問題及對策研究[J];財會通訊;2012年20期

，

本文編號：1514328