Research Forms Of Regulation Structure Of Owned-State Stock Enterprise Under The Condition Of Socialist Market Economy

The forms of achieving public ownership and the regulation of economical stricture are important component part of theory of socialist market economy public ownership may achieve by a lot of ways. It is our vital task to find hard forms of achieving public ownership to improver development of productive forces and to regulate and perfect structure of ownership^ System of stocks is put forward to under the condition of socialist elementary phase. Thus, proportion of state-owned stocks is too large in structure of stock. The problem has become a octal block for reformation of enterprise and development of capital market.The article explains a form of regulation structure of owned -state stocks enterprise in the course of reformation of owned -state enterprise.The article consists of four parts. At first it discusses the necessity of state-owned stock reduction. In macroeconomic view, Non-marketable state shares make state assets "dead". Then the stock market can't grow up because of it. In microeconomic view, since less shareholders hold most of shares, there exists internal control in the corporations. As a result, the mechanism of corporate governance can't play an important role. That's why our listed companies get lower efficiency.Secondly the targets of state-owned stock reduction have been put up: (1) In order to establish a real modern corporate system we should optimize the structure of equity capital and improve the management mechanism by state-owned stocks reduction. (2) By means of normalizing the development of securities market state-owned stocks reduction makes the resources allocation more effective and foster the market prosperous. (3) State-owned stocks reduction can adjust and optimize the industry structure, so that it can actuate rapidly the national economy. Thirdly it analyses the current obstacles of state-owned stocks reduction theoretically and practically. On one hand in the theory someone understand theIIMASTER L THESIpublic ownership mechanically, they think public property would lose if state-owned stocks go public in the market, On the other hand, in the reality current state assets are short of a real owner, There are urgent problems to solve at once. For example how to fix its issuance price is a realistic problem.Finally it makes some suggestions as follows: (1) We should obey three premises "fair, efficient, and stable" and four principles in the course of state-owned stock reduction. (2) Laws must first be enacted before state-owned stock reduction begins. (3) Two measurements should be taken in the process of fixing a proper price, and so on.