论文部分内容阅读
“杠杆转换”是指以具有财务保证和财务创造能力的中间机构作支点,一端连接最终投资者,一端连接企业,在投资者和企业之间实行“股——债”转换,从而实现企业的财务结构调整及产权作用机制的调整。“杠杆转换”的关键在于作支点的中间机构,它一般是投资公司(或投资银行、控股公司,下同),具有较强的财务能力和一定的冒险精神,能够使企业获得重组和新生。
“Leverage conversion” refers to the use of an intermediary organization with financial assurance and financial creation as a fulcrum. One end connects to the ultimate investor, one end connects to the enterprise, and the “share-debt” conversion is implemented between the investor and the enterprise. Adjustment of financial structure and adjustment of property rights mechanism. The key to “leverage conversion” is to serve as the intermediary of the fulcrum. It is generally an investment company (or an investment bank, a holding company, the same below). It has strong financial ability and a certain degree of adventurous spirit, and it can enable the company to obtain restructuring and new life.