Research On The Stock Splitting Reform And The Corresponding Value In China

As a bequeathing question of history, it breaks the stock market into two: one can be exchanged freely, but the other can not, so the shareholders are also divided into two types. The stockholders who own the stocks can be circulating freely focus on the change of the price exchanged in the stock market, but the other one do not concern this, they just gain in the IPO, so they do not pay attention to the second-hand market, so they will have the conflict and act in the same direction.As theses two kinds of shareholders have different interests, division of share equity makes block to Chinese Financial Market, and it restricts the normal development of the Capital Market and ultimate reform of the management system of the National Capital, so it is necessary to reform this situation.The stocks owned by the juridical persons can not be changed in the second-hand market, it is a promise the juridical persons gives the minority shareholders, so if the stock is changed to be circulating, the juridical persons will pay for the rights of circulation. But how much it will pay for it, the two kinds of shareholders will negotiate about it at the principle protecting the minority shareholders.This paper explains the definition of the division of share equity, and illustrates the adversities of it, and then the author tries to explain the Stock Splitting Reform .First, talking about protecting the interest of the minority shareholders and the elements influencing the corresponding value, and then the author narrates the principle,goal and the law gist to solve the problem, and especially analyses some schemes of the corresponding value, the third , the paper analyses the prospect after solving this problem. At last of this paper, it gives analysis about the demonstration.After all, the stock market has been founded just more than ten years, and the phenomenon of the division of share equity is just in China, so we have no experiences to use for reference, and it request us to solve this by ourselves.After the reform of the division of share equity, we can speculate that the stock market will be more rational, and the function of capital market estimating will resume, and the motivation of the investors will be changed. Now to invest is not to seek the disparity of the stock price exchanged in the stock market, however, it is a process to control the risk. From the above, we can know that it is necessary to solve the problem, the reform of the division of share equity is a great reform, it is significant.