浅论企业理财模式创新.docVIP

浅论企业理财模式创新 Shallow theory of enterprise financial management mode innovation 论文关键词：企业分折资产经营风险控制 Paper keywords: business cent fold assets risk control 　　论文摘要：本文着重论述了企业分拆的基本原理及其广阔的应用前景，指出在充分发挥企业分拆的各种优势的同时，应控制和防范其中的风险。 Abstract: this paper focuses on the basic principle of enterprise spin-off and its broad application prospects, pointed out that in giving full play to enterprise spin-off advantages at the same time, should control and prevent the risks. 　　 　　一、企业分拆的基本原理 The base principle, enterprise spin-off 　　一般而言，对于企业资源的整合，有两种方式可以选择：一是使企业资产规模扩张，其手段是收购和兼并；二是使企业资产规模收缩，其手段是资产剥离。企业资产剥离通常有两种类型，一种是资 In general, for the integration of enterprise resources, there are two ways to choose: one is to make the enterprise assets scale expansion, its means is the acquisition and merger; 2 it is to make the enterprise assets shrink, its means is assets. Enterprise assets usually have two types, one is 产的出售(Sell—off)即出售剥离资产的所有权以收回现金；另一种是分拆(Spins—off)。所谓分拆是指一个母公司通过将其在子公司中所拥有的股份，按比例地分配给母公司现有的股东，从而在法律上 Produced for sale (Sell - off) that is selling off the ownership of assets to withdraw cash; The other is a spin-off (Spins - off). Split refers to a parent company through its owned shares in the subsidiary, allocated in proportion to the parent companys existing shareholders, thus in law 和组织上将子公司的经营活动从母公司中分离出去使其成为独立法律地位的会计实体。 And admiral group subsidiary business separate from the parent company make it a legal status of independent accounting entity. 　　(一)投资者“主业突出”偏好学说上世纪九十年代以前，全球企业界盛行多元化发展思路，认为多元化经营可以有效地分散投资风险，更多地占领市场，做到“东方不亮西方亮”。但实践表明，这 (a) investors main highlight preference theory until the 1990 s, the global prevalence of corporate diversification development train of thought, that diversification can effectively disperse investment risks, more to occupy the market, and do it the Oriental not bright western bright. But practice shows that this 种思路是行不通的。企业高层管理人员对非本行业的业务领域缺乏经验，盲目扩张的结果是原有的主营业务优势也不复存在，整个企业集团的盈利能力受到拖累。作为认真研究和反思的结果，许多企业 Idea is a non-starter. Enterprise seni