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A study on characteristic of a reorganization type bankruptcy processing application company : Empirical Analysis of Financial Ratios

重整型破产申请公司的特征研究：财务比率的实证分析

基本信息

批准号：
15330081
负责人：
SHIRATA Yoshiko
金额：
$ 3.84万
依托单位：
Shibaura Institute of Technology (2005)Nihon University (2003-2004)
依托单位国家：
日本
项目类别：
Grant-in-Aid for Scientific Research (B)
财政年份：
2003
资助国家：
日本
起止时间：
2003 至 2005
项目状态：
已结题

项目摘要

This study analyzed Civil Rehabilitation Law companies to clarify whether the act settled in society and functioned as company reorganization. As a result, closing rate of Civil Rehabilitation Law was only 39.2% about a listed company and there were 30 months for an average reorganization period. Many of companies which achieved reorganization had technology peculiar, and a line was enough by a business transfer. On the other hand, there are many companies driven into the bankruptcy and there is even a prospect of the reorganizing without support being found in a medium and small-sized business without standing. This study proved that financial ratios turned worse than a bankruptcy company when play-back rate of a Civil Rehabilitation Law companies were analyzed from a financial aspects.Decreasing the liquidity ratio, a rise of an interest rate burden had been seen in particular. In addition, it was found that a lot of insolvency companies originally apply to a Civil Rehabilitation Law companies for bankruptcy processing, and a company applies to "a makeshift" for a civil affair reorganization procedure. This is clear because Civil Rehabilitation Law were applied at the end of the month (21st, 30th) when payment of a debt centers on.

本研究以民事重整法公司为分析对象，以厘清民事重整行为是否具有社会安定性，是否具有公司重整之功能。结果，《民事重整法》对上市公司的重整结案率仅为39.2%，平均重整期为30个月。许多实现重组的公司都具有特殊的技术，通过业务转移一条线就足够了。另一方面，也有许多企业被逼破产，甚至有一些没有地位的中小企业出现了无援重组的前景。本研究证明，从财务角度分析民事复兴法公司的回拨率时，财务比率比破产公司更差，特别是流动性比率降低，利率负担增加。此外，还发现不少资不抵债的公司原来是向民事重整法公司申请破产程序，而一家公司则是“凑合”申请民事重整程序。这一点很清楚，因为《民事恢复法》在月底（21日、30日）债务集中支付时适用。