Enterprise restructuring refers to optimizing the asset structure, liability structure and property right structure of an enterprise by means of asset restructuring, liability restructuring and property right restructuring with the goal of maintaining and increasing capital, making full use of existing resources and realizing the optimal allocation of resources.
The key to enterprise restructuring is to choose a reasonable enterprise restructuring model and method. The reasonable selection standard of reorganization mode and reorganization mode lies in creating enterprise value and realizing capital appreciation. Financial analysis is of great significance and role in clarifying the source of value, determining the level of value creation and finding out the beneficiaries of enterprise reorganization.
Extended data:
There are two main direct reasons for enterprise reorganization:
1. Maximize the market value of shares held by existing shareholders? ;
2. Maximize the wealth of existing managers.
The two may be consistent or conflicting. In any case, increasing enterprise value is fundamental to achieve these two goals.
There are various ways of enterprise reorganization. At present, there are usually two problems in the practice of enterprise restructuring in China: one is to unilaterally understand enterprise restructuring as enterprise merger or enterprise expansion, while ignoring the management methods of enterprise capital contraction such as sale and divestiture; Second, it confuses merger and merger, divestiture and separation. When analyzing the value source of enterprise reorganization, it is necessary to define the connotation of enterprise reorganization mode first.
Baidu Encyclopedia-Enterprise Restructuring