论债转股

我国银行与企业之间的不良债务越来越多。如果这种情况继续下去，将导致企业破产，也会将银行拖垮，最终导致金融危机。债转股作为一种延缓矛盾和风险爆发时间应急性措施的债务重组手段，成功的关键在于是否能以此为契机，彻底转变企业经营管理机制和治理结构，使企业的产权明晰，将企业推向市场，在市场中生存和发展。

Discussions on debt to equity swap

Under the conditons of unhealthy market economy,the special relationships between banks and enterprises lead to weak debt constraints the bad loans are getting more and more.If the situation continues,the enterprises may go bankruptcy,and the banks would also be forced into bankruptcy,which will trigger the financial crisis.Debt to equity swap is an emergency measurement to defer the conflicts and the occurrence of the financial crisis.The key point to make the policy effective is whether the measurement incentives the enterprise completely to change the management mechanism and the governance,to clarify the property rights,to make the enterprise successfully operate in the market.