Private Enterprises Restructure Large and Medium-Sized State-Owned Enterprises-based on the stakeholder theory

This paper is based on the restructuring failure between Jian Long Group and Tong Hua Iron & Steel Group, which resulted in the death of a general manager. Based on the stakeholder theory, we made research on private enterprises restructure large and medium-sized state-owned enterprises. Despite that there are various reasons which are relevant to the case, one of the most important factors is that the interests of the stakeholders are not satisfied. Therefore, when private enterprises try to participate in the restructuring of state-owned large and medium-sized enterprises, they should have to carefully coordinate the relationships with the core stakeholders, including the responsible departments of government, Country Support State-owned Assets Supervision and Administration Commission of the State Council, managers and staffs of state-owned enterprises.