我国上市公司虚假资产重组治理探究

Research on the Governance of False Asset Restructuring of Listed Companies in China

摘要: 近年来，实现可持续发展为我国经济社会的可持续发展指明了方向，它旨在帮助我国企业应对国际、国内环境的变化，以及更好地把握机遇，实现可持续的增长，从而更好地满足国家经济社会的需求，并为国家经济社会的可持续发展做出贡献。出于筹集资金、提高管理效率，通过收购、合并相关业务，扩大市场份额，提高行业地位等目的，越来越多的企业在不同的发展阶段选择了资产重组。许多企业在重组后，仅仅停留在表面上的修饰，而忽视了其长远的财务发展，从而无法有效地围绕核心能力和主导产业进行产业整合，只是追求短期利益最大化。衍生出许多虚假重组的乱象。本文根据这一主旨聚焦我国上市公司资产重组现状，基于此提出上市公司资产重组中存在的问题，并进行原因分析，最后给出治理虚假资产重组的对策建议。

Abstract: In recent years, achieving sustainable development has pointed out the direction for the sustainable development of China’s economy and society. It aims to help Chinese enterprises cope with changes in the international and domestic environment, better seize opportunities, achieve sustainable growth, thereby better meeting the needs of the country’s economy and society and making contributions to the sustainable development of the country’s economy and society. For the purposes of raising funds, improving management efficiency, expanding market share and enhancing industry status through acquisitions and mergers of related businesses, an increasing number of enterprises have chosen asset reorganization at different stages of development. However, many enterprises and companies regard asset reorganization as the only way to turn losses into profits, believing that as long as they restructure, their economic benefits will improve. Some take bankruptcy and reorganization as a means to achieve short-term goals, while others use asset reorganization to manipulate profits. After reorganization, many enterprises merely stay at the surface level of decoration and neglect their long-term financial development. As a result, they are unable to effectively carry out industrial integration around core capabilities and leading industries, and only pursue the maximization of short-term interests. This has given rise to many chaotic phenomena of false reorganizations. Based on this main theme, this article focuses on the current situation of asset reorganization of listed companies in China. Based on this, it puts forward the problems existing in the asset reorganization of listed companies, conducts cause analysis, and finally gives countermeasures and suggestions for governing false asset reorganization.