Study On Efficiency Of The T-type Listed Company's Restructure In China

In the year 1998, the T-type listed company appeared according to the policy of China stock supervisor. T-type stock means special treat and particular transfer, that is st-stock pt-stock .When a listed company has got into red for two years, its stock will be special treated and the name of the stock will be added st;and when a listed company has got into red for three years, the company will turn into pt one ,the company will be limited grimly.most of them throw off the dilemma by restructure. But, there is an important question: is the restructure efficient.Based on the theories of efficiency about restructure of corporation, the paper researches the general restructure patterns of t-type companies, and through studying of the cases of the restructed companies, the author points out the main problems in the restructure. The author also explains what factors cause the problem and the ineffectual restructure. Finally, the author gives his advices on how to solve those problems and on how to modify existing rules, in order to make them more efficient.