摘 要
由于历史和体制等原因，国有企业亏损严重，资产负债率高，我国银行和国有企业之间形成了大量的不良资产。为推进国企和国有商业银行改革，我国政府决定对国有商业银行的不良贷款进行清理、剥离，于1999年底出资成立金融资产管理公司，按照国家政策出资收购商业银行对国企的债权，将其转化为金融资产管理公司对相应国有企业的股权。债转股对化解国有银行面临的风险压力同时实现国企脱困起到很大的作用，但通过实践发现债转股工作任务仍然非常艰巨，并且在债转股过程中产生和遇到许多不容忽视的问题，因此分析债转股问题产生的原因、采取有针对性的措施来解决债转股问题，不仅有利于债转股顺利实施，对健全金融市场等也有重要意义。本文通过债转股的问题、原因分析，针对我国债转股的现状，提出相关对策建议。
关键词：债转股；问题研究；风险；对策；
Abstract
Due to historical and institutional reasons, the state-owned enterprise losses, assets and liabilities rate, forming a large number of non-performing assets between banks and state-owned enterprises. To promote the state-owned enterprises and state-owned commercial bank reform, the Chinese government decided to non-performing loans of state-owned commercial banks to clean, peel, at the end of 1999 funded the establishment of financial asset management companies, in accordance with national policies financed the acquisition of commercial banks to state-owned debt, which was converted to equity financial asset management company corresponding state-owned enterprises. Debt pressure on state-owned banks to mitigate risks faced while achieving turnaround play a big role, but through the practice of discovery debt is still very arduous task, and generates and encountered many can not be ignored in the process of debt question, therefore analyze the causes of debt problems, adopt appropriate measures to solve the debt problem, not only conducive to the smooth implementation of the debt, to improve the financial markets it is also important. Through debt problems, cause analysis, the current situation of debt, and put forward relevant suggestions.
Keywords: Debt; research questions; Risk; Countermeasure;
目 录
摘 要 IV
Abstract V
引 言 1
1债转股的综述 2
1.1 债转股的概念及其产生 2
1.2 债转股各方利益 2
1.2.1 政府利益 3
1.2.2 企业利益 3
1.2.3 商业银行利益 3
1.2.4 金融资产管理公司利益 3
2 我国企业债转股实施情况分析 4
2.1 我国企业债转股实施情况 4
2.2 我国企业实施债转股普遍存在的问题 5
3 债转股当前风险分析 6
3.1 财务风险存在 6
3.1.1 企业环节财务风险分析 6
3.1.2 银行、资产管理公司环节财务风险分析 6
3.2 管理风险存在 7
3.3 道德风险存在 8
3.3.1 资产管理公司存在的道德风险 8
3.3.2 国有银行产生的道德风险 8
3.3.3 国有企业赖账的道德风险 8
3.3.4 地方政府进行干预产生的道德风险 9
4 债转股问题风险防范的基本思路及对策 9
4.1 健全公司治理结构削弱财务风险 9
4.2 加强市场运作机制弱化管理风险 10
4.3 建立督导机制控制道德风险 10
结 论 11
致 谢 12
参考文献 13
