The Study On The Risk Control Of Stock Rights' Pledge

Pledge of stock rights is a rising guarantee in recent years. With the development of the marketing economy, the distinctive feature of pledge of stock rights is becoming more and more important in modern society. But because of the flexibility of stock rights' value and the immature marketing and law circumstance currently, it bring more risks which are among the basic features of the stock rights. So it is vital that we should lay stress on the control of the risks. This article focuses on the risk-controlling analysis of share rights' pledge.This article consists of the following three chapters:Chapter One The general research on share rights' pledge. In this part, the author firstly points the fundamental issues: conception, feature and so on. Share rights' pledge is one part of the rights' pledge, which is subsidiary, unitary and so on. However, as a special security rights, share rights' pledge still have the features of performance, predictability, duality, convenience and risk. Then the author analysis on subject of matter of stock rights' pledge and approve the pledge of stock rights is thought to take all capacity of stock rights as object. At last, the effective range of stock rights' pledge is shown.Chapter Two The analysis on risks. The modern rules of share rights' pledge are old and immature, so it will bring lots of risks for the defects. The author believes that the risks includes the risk of cheating by the pledges, the moral risk, the market risk, the value risk, the choosing risk of objective and the risk of law. Among these risks, the risk of the value fluctuation caused by the instability of stock price is the major one.Chapter Three The risk-controlling countermeasures of stock rights' pledge. Because the high risk of the stock rights' pledge, the creditors should be aware the existence of the risks and be ready to limit the risks, by this way they can fulfill their rights. For the above-mentioned facts, the author presents the measures as follows: strictly inspect the qualification of the one who provides share rights as the object of pledge strictly; make sure the process is legal and effective; choose the objective of stock rights' pledge carefully; set up the ranking system and make the security and closing lines; assess the value of pledged share rights and the pledge rate; perfect the law and policy of share rights' pledge.