债转股与现代企业制度分析

On Converting Debts into Shares and Modern Enterprise System

本文分析指出:国有商业银行不良资产和国有企业不良债务形成的主要原因在于没有建立起现代银行制度和现代企业制度。试图用债转股政策来化解潜在的金融风险和降低企业负债率及财务费用负担存在一定风险,债转股并不能解决深层问题,它只是债务重组的一种手段,应把债转股与建立现代银行制度和现代企业制度结合起来,才能解决深层次问题,促进国民经济良性发展。在此基础上对政府、金融资产管理公司、国有企业和国有商业银行提出若干政策建议。

This paper points out that the cause for the bad assets in state - owned commercial banks and bad debts in stale - owned enterprises is their failure in setting up modern banking system and modern enterprise system. There exists risk when converting debts into shares. Converting debts into share is a means for debts reorganization. It actually can t solve the deep problems. The only solution lies in the combination of converting debts into shares and modern banking and enterprise system. This paper offers suggestions to government, administering companies of financial funds, slate- owned enterprises and state - owned commercial banks.