摘 要:近年来，我国上市公司的债务重组活动日趋频繁，已经成为我国经济生活中的一个重要现象，由此也引起了相关人员的广泛关注。从理论上来说规范的债务重组对企业和市场经济发展是有利的，但是在实际操作过程时，仍然存在许多的问题需要我们来分析探讨。本文就上市公司的债务重组问题进行一系列研究。首先从债务重组的概念出发，对目前债务重组内容进行归纳总结，并阐述相关看法。然后对债务重组准则在上市公司的整体实施情况进行深入研究。通过分析上市公司债务重组动机、对象、方式、影响等，感悟上市公司债务重组的利弊，从而提出改进和完善之处。接着具体直观的描述了*ST商务公司债务重组的背景，实现手段，结果和影响等。然后借助该企业重组的实证分析来辅助本文研究结论。最后总结进行债务重组研究的意义与价值。

关键词：债务重组；上市公司；财务困境

ABSTRACT:In recent years, the debt restructuring of listed companies in our country becomes more and more.It has becomed an important phenomenon in our economy life and caused extensive attention of relevant personnel.In theory, specification of debt restructuring is favourable to the development of the enterprise and the market economy. But in the actual operation process, there are still many problems need us to analyze.In this paper, we studyied many problems of the listed companies' debt restructuring.At the first of all, we started from the concept of debt restructuring, then we generalized the content of the current debt restructuring and announced the related views.We studied the overall implementation of the debt restructuring guidelines in the listed companies.By analyzing the debt restructuring of listed companies incentive, objects, methods, effects and so on, we understanded the pros and cons of the debt restructuring of listed companies and putted forward the place to improve. Then we described the background of *ST BUSINESS enterprise debt restructuring, the implementation method, result and influence.through the case we proved the research of this article.At last ,we summarized the significance and the value of the debt restructuring research.

Keywords: Debt restructuring; Listed company; Financial distress