“空壳化”最初一般指上市公司的母公司或大股东掏空上市公司现金或资产的行为。而本文所言“空壳化”是指企业在战略定位上和改革调整中着意“做虚做空”国有集团母公司,而做实做强其所控制的子公司,致使集团控制力大大削弱,逐步丧失对全集团战略、资产、投资、利润以及生产经营等资源与活动的统一管控调配之能力。当前,地方国企集团“空壳化”问题就已浮出水面,且渐渐成势,应当引起足够关注。 “Shell ” initially refers to the listed company’s parent company or major shareholder hollowing out the cash or assets of the listed company. In this paper, “shell” refers to the strategic positioning of enterprises in the reform and restructuring in the “short” “state-owned group parent company, and to make it stronger control of its subsidiaries, resulting in group control Greatly weakened its power and gradually lost its ability to control the allocation of resources and activities such as the strategy, assets, investment, profits and production and operation of the entire Group. At present, the issue of ”shell " by local state-owned enterprise groups has surfaced and has gradually become a trend that should attract enough attention.