Stock Repurchase Method&fund Resource And The Effect Of Enterprises' Financial Structure

Stock repurchase is always employed by listed companies as financial tool in mature capital market. It not only can bring for the listed companies the changes of share structure, capital situation and share price but also bring wealth effect for those shareholders with sold or unsold stockholder's right. Although in our country, there are extremely limited cases of stock repurchase, valuable sample material for stock repurchase in real diagnosis research could still be provided.The first part of this thesis gives the introduction about the relative theory of stock repurchase in foreign countries as well as the latest development in stock repurchase areas. The second part starts with the review of the current stock repurchase cases in China and is followed by researches about methods and resources in stock repurchase conducted based on those specific cases. By referring the existing method and resources on the international market and making the effort to find an applicable solution which are customized to China market. The third part investigates more based on the second part, it analyzes the impacts of different funding resource from stock-repurchase on financial ratios, such as liquidity, leverage, and profitability. This research could provide reference data for the capital resource choice of listed companies.The fourth part is the conclusion of the thesis, which discusses how to control the risks of stock repurchase and we can draw the conclusion below: the method for stock repurchase based on agreement and cash & asset being used as resource stock repurchase meet with the current stock market situation in China.Because of some historical reasons in China's economic system, many attributes with Chinese characteristics exist in the stock market, so does the methodand (fund) resource in the stock repurchase area. The major characteristic of this thesis is the specific research of the stock repurchase method and resource. It's hoped that it could devote some theoretical illuminations and provide certain guidelines (a quotable method) to the rest of those listed companies.