The Study Of The Protection Of Private Participation In The State-owned Equity M & A

Private-economy is one of the most dynamic and efficient of Chinese Market. it has make a great contribution and irreplaceable role to the development of Chinese economic such as enlargement of employment and maintain social stability, after the reform and open policy had been implemented., Under the background of the state-owned economy begin to withdraw from the market while the non-state owned economy are entering into, the non-state owned economy will brisk up again if they can take part in the transformation of state-owned enterprises equitably. It does also will play a more positive role to promote economic increasing. This article is attempted to discuss How to improve the Private-economy's status while they participate in reorganization. And try to find out the reason and The main form of while they taking part in the merge (including of financing).and on the base of it,we presented our solutions to strengthen the protection of private participation in the state-owned equity m&a in the reform of state-owned enterprises, improve their enthusiasm. Besides the preamble and epilogue outside, this article is divided into four chapters, about 40,000 words.The chapter 1 summarized acquisition of state-owned enterprises, private enterprises.first, this paper analyzes the main subject of state-owned enterprise mergers acquisitions state-owned enterprises, foreign enterprises and state-owned enterprises mergers and acquisitions of interaction between the management of state-owned enterprises, MBO.Then analyzed the current situation of state-owned enterprises, the development trend of the market:private enterprise grew to state-owned enterprises, especially small and medium-sized state-owned enterprises, foreign enterprises mergers acquisitions of state-owned enterprises have accelerated trend in large and medium-sized state-owned enterprises and state-owned enterprises for the first, the merger between new strategic acquisitions and to be willing to main forms and acquisition of state-owned listed companies becomes the key, is the acquisition of private enterprises and foreign enterprises for focus. Then analyze the causes, state-owned enterprises mergers acquisitions state-owned enterprises and the meaning, the present situation and the existing problems. The chapter 2 lists the state-owned corporation m&a unfair phenomena. In this chapter, the author mainly in the state-owned corporation m&a unfair phenomena can be summarized as follows:the foreign acquisition of state-owned enterprises in the target selection of the comparative advantages of corporation, state-owned enterprises and foreign enterprises＇financing capability of corporation's comparative advantage, state-owned enterprises mergers and management for corporation m&a MBO state-owned enterprises, the comparative advantage in m&a administrative monopoly industries of comparative advantage of corporation, foreign enterprises and state-owned enterprise merger of preferential measures relative to the comparative advantages of private enterprises from five aspects.The chapter 3 analysised the reason why the private enterprise merger of state-owned enterprises is not fair market position. In this chapter, the author put the unfair phenomena as:the government target for multiple, government behavior is not standard, China's capital market in China is not perfect, the listed company shareholders＇special protection system and the social security system in China is not perfect in five aspects.The chapter 4 present the state-owned enterprises, private enterprises merging fair market status of protection measures. Based on the analysis of the causes and unfairness, this paper attempts to give following measures:coordinating merger of state-owned enterprises and government target goal, standardizing the government behavior, established to protect our state-owned listed companies and protect the special shareholders system, perfect enterprise merger of capital market conditions, perfecting the social security system, and realization of the equal treatment for foreign.