论我国企业收缩性资本运营的必要性

On the Necessity of Contracting Capital-Operations in Chinese Enterprises

20世纪 8 0年代以来 ,我国相当一部分企业通过混合兼并走上了多元化发展的道路 ,少数企业则通过内部扩张的方式进行跨行业经营 ,但多数从事无关联多元化经营的企业并未获得成功。因此 ,这些企业需要适当收缩 ,回归主业 ,强化核心业务。此外 ,收缩性资本运营对我国资本市场的完善、上市公司的经营以及非上市国有企业的改革也具有重要意义。

Since 1980s, a rather large number of enterprises have taken the road of diversification, and a few have operated in multi industries by expanding internally. However, most of those irrelevant operations have failed. Therefore, these enterprises need shrinking appropriately to come back to basics and to strengthen their core lines of business. Besides, shrinking capital operations are of great significance to our countrys capital market perfection, to the operations of the firms that have issued stocks, and to the reform of the state owned enterprises that do not issue stocks.