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1??ü′ê￡o1úóD?óòμ￡?×ê±??á11??àí￡???×′￡??êìa￡???2?1
Abstract￡¨English￡?
The administration of the capital structure of state-owned enterprise
of our country has been a dynamic evolution all the time,with the reform
of modern enterprise's property relations,the existing capital structure of
state-owned enterprise has been already unable to meet the needs of
market,Administrate the capital structure becomes the most important
thing of the Reform of state-owned enterprises.Our country control
state-owned enterprise capital structure adopts debt-to-equity,reduction
of state-owned stocks,equity,made more or less result in different
periods successfully,but has not solved serious problem which means"a
insider controls".
This text is analyzing the pluses and minuses of the existing
structural administration way of capital,from the below three reasons:
debt on the high side rate of state-owned enterprise,stock right structure
out-of-balance,capital structure lack flexibility,key analysis the several
factors which influences state-owned enterprise of our country:Planned
economic system,country invest capital to be insufficient,enterprise own
capital supplemented in full amount,company's administration structure
uncompleted,the assets disposed unreasonable,operation is weak.
Based on the above factor,this article uses the real diagnosis and the2
standard research,qualitative and the quantitative analysis,the historical
analysis and the dialectical analysis union research technique,Revolves
the system factor and capital market to carry on the analysis,and has put
forward the thinking managed of distinguishing to the state-owned
enterprise of different situations.The first kind is important trade of
concerning the national security and lifelines of the national economy and
key field,with competition advantage trade might form leading field of
industry future.The country should adopt the administration way in
which the increment capital pour into.The second kind of state-owned
enterprise in order to have stronger competitiveness,adjust between
central enterprises,central enterprises and other enterprises,the stock
assets visited among enterprises from head to foot,combine through
inside and outside recombinant,optimize state-run capital distribution
among enterprise.The third to fall into serious financial state-run small
and medium-sized enterprises of predicament,country can adopt,
liquidate,sell way withdraw directly.
Key words:state-owned enterprise;administration of the capital
structure;present condition;problem;countermeasureò??￠òy??........................................................................................................................1
1￡??ò1ú1úóD?óòμ×ê±??á11??àíμ???μ?...............................................................1
2￡????°1úóD?óòμ×ê±??á11??àí?D??×?ê?...........................................................1
?t?￠?ò1ú1úóD?óòμ×ê±??á11′??úμ??êìa?°?-òò·???................................................3
1￡??ò1ú1úóD?óòμ×ê±??á11′??úμ??êìa...............................................................3
￡¨1￡?1úóD?óòμ1éè¨?á11ê§oa........................................................................3
￡¨2￡?1úóD?óòμ?o??±è?ê????........................................................................4
￡¨3￡?1úóD?óòμ×ê±??á11è±·|μˉD?................................................................5
2￡?1úóD?óòμ×ê±??á11ê§μ÷μ??-òò·???...............................................................6
￡¨1￡?1úóD?óòμê@@¤?ú?????-??ì???μ?ó°?ì??é?........................................6
￡¨2￡?1ú?ò×÷?a3?×ê??í?è?×ê±?2?×?............................................................7
￡¨3￡??óòμμ?×?óD×ê..