On The Market For The Corporate Controlling Shares In PRC

The dissertation is on the market for the corporate controlling shares(mccs) in PRC. The main clue of the study is the perfectly competitive market. It contains 8 parts:First, on the studying of the historical documents,the dissertation advances a new market: the market for the corporate controlling shares(mccs) in PRC. It analyzes the quality of the corporate controlling shares(ccs) and difference of shares trade form in PRC. Second, it recalls the history of the property rights reform, and the development of the primary and secondary market of mccs. It lays out the historical causes and character of mccs in PRC. Third, it analysis the subjects in the market, and their limited rationality and selfishness. Forth, it analysis the supply and demand in the market, and the pricing of ccs. It shows a large gap between supply and demand, and large difference of pricing of ccs. It brings 2 pricing models, respectively from the points of the buyer and the seller, and how they match. Fifth, it analysis the main affect causes of the flow of ccs, study the uncertainty and unprospectivity of the rules and regulations, the obstacles to be in and out, the different trade forms, the procedures, the time to finish the deal, the necessary cost,etc. It shows a low flow and high cost of mccs. Sixth, it studies the information rules in the market, made an analysis in contrast with a case study. It shows the asymmetric and imperfect information character. Seventh, it analysis in detail the allocate function of resources, and the efficiency of the inner operation.On the basis of the study above, it proves that mccs is not yet a perfectly competitive market. It needs improvements to have better function and increase efficiency. Suggestions include: reduce the difference of shares trade form, give more guidelines to encourage and limit the actions of the subjects in the market, increase supply, improve the pricing of ccs, quick the procedure of the deal, improve the information disclosure, and the guilty penalty.