Considering the present situation of our capital of market , it is suggested in this thesis we adopt the mark - on percentage is determined in terms of non - operation assets and stock ' s ability to flow . this method in a better way present inner values of both sides , achieving reciprocity in exchange 鉴此结合我国资本市场现状,对每股收益之比进行修正并以此作为我国确定换股比例方法,其中每股收益只考虑经营性资产所产生的收益,调整系数可综合考虑非经营性资产和股票可流通性等因素来确定。
Based on the analysis of the current situation of the state medium - small - enterprise and the difficulties met during the stock reorganization of the high technology medium - small - enterprise , the article tries to provide possible solutions on the issues of definition of property rights , management of state assets , stock evaluation of commercial and non - commercial capital , disposal of enterprise debt and the use of land , and the settlement of retired people respectively . applying the modern theory of financial management , the article also gives its suggestion on the comprehensive evaluation on the companies during their stock reorganization and on the optimal allocation of capitals . according to the western experiences of developing high technology industries by venture investment and the prospect of the roles played by the forthcoming growth enterprise market , the article concludes that the sate medium - small high technology enterprises raising money from growth enterprise market through stock reorganization may be a shortcut for their development . a case of an " institute of automatization " , whose scheme was planned by the author for practice , is discussed throughout the paper 本文在对我国国有中小企业改革现状的分析基础上,针对我国国有中小高新技术企业的现状及股份制改组过程中的难点,对产权界定、国有资产管理、经营性和非经营性资产的剥离、净资产的折股、企业债务和土地使用权的处理、离退休人员的安置等等问题,分别提出了具体的解决办法。运用现代财务管理理论,提出了股份制改组过程中的公司整体价值评价方法及最佳资本结构确定的方法。在分析国外利用风险投资机制发展高新技术产业的经验及即将推出的二板市场相关内容基础上,明确提出国有中小型高新技术企业通过股份制改组最终到二板市场上市融资是其快速发展的途径。
非: mistake; wrong; errors经营: manage; operate; run; engage ...性: nature; character; dispositi ...资产: property; means经营性资产: business assets; productive assets非经营性项目: non-operational items经营性资金容量: management funds volume经营性资金容量 经营性资金容量: managementfundsvolume非经营性互联网信息服务: icp经营性产品: products used to conduct business经营性亏损: run at a loss due to poor operation; losses incurred by enterprises in their operation; incur losses due to poor operation and management; operational losses经营性租赁: operating leases经营性现金流: cffo策略性资产: strategic asset防御性资产: defensive asset风险性资产: risk assets; riskassets; rwa货币性资产: monetary assets金融性资产: financial assets流动性资产: current assets生产性资产: productive a et; productive assets; productivea ets消费性资产: wasting asset永久性资产: permanent a t; permanent assts折耗性资产: depletion asset折旧性资产: depreciable assets资本性资产: capital asset