Research On The Methods Of The State-owned Stocks Lessening

The classification and non-currency of the state stocks and artificial person's stocks are the unique equity ownership structure phenomena of Chinese capital market,which resulting in the imperfection of the artificial person management system and "inter-persons control",and making the state-owned stocks lessening necessary. The comprehensive analysis and comparable study on the related scope of the state-owned stocks lessening have great importance on the smooth implement of the state-owned stocks lessening and the healthy development of the capital market. This essay mainly adopted the methods of real cases analysis and comparable study. This essay focused on 17 listed companies with the state-owned stocks being the No.l shareholder in Chongqing,and discovered the share proportion of the state-owned stocks has a certain negative influence on the company's profit-making,which was even noticeable;and also stressed on learning the clue and solution of the state-owned stocks lessening in the personalization of the state-owned enterprises overseas and concluded their experiences and lessons. And this essay found the solution of the problem:the lessening should obey the important regulations of the "efficient market" and "market principles";the lessening should combine the long-term goal with the short-term's and united into a final goal-the maximum of the whole society's property;the organization structure should be perfected formally and substantially;the state-owned stocks should be lessened by classification periodically;the lessening ways could be diversified,marketable or non-marketable;the lessening should obey the regulation of different prices on different stocks and same prices on same stocks,and drew a conclusion that our state-owned stocks lessening should be managed with low price based on the net assets.