Font Size: a A A

State-owned Shares

Posted on:2002-07-28Degree:MasterType:Thesis
Country:ChinaCandidate:S MingFull Text:PDF
GTID:2206360032954804Subject:Finance and Tax
Abstract/Summary:PDF Full Text Request
Recently, state-owned shares liquidation has been a popular topic of conversation about china economic development. Each opinion issued after china government put forward the policy of state-owned shares liquidation has been discussed briefly in this article. And then a state-owned shares circulation plan is put forward for discussions.This paper includes three chapters and four parts.Chapter One The necessity, existing difficulties and problems of state-owned shares liquidation.In Chapter One, Firstly, the necessity of state-owned shares liquidation is proofed from four respects: first, state-owned shares liquidation is the need of state-owned economy strategy reconstruction. For a long time, the efficiency of state-owned assets disposing and operating is lower. State-owned shares liquidation is very important to state-owned assets circulation. Meanwhile, state-owned assets can be disposed excellently through state-owned assets liquidating. Second, State-owned shares liquidation is the need to standard stock market fatherly. Because state-owned shares can not be transacted in exchanging market, the same shares have different rights and different prices. This phenomenon is very unfavorable for china capital market. Through state-owned shares liquidation and circulation, security market can be standardized. Third, state-owned shares liquidation can make up the deficit of society security fund. For a long time, on the basis of planned economy model, china carried out the development model of decreasing consumption and increasing accumulation. Before china reformation, the old-age pension of workers is provided by enterprises. In market economy times, china must construct the total society security system urgently. But because the historical reason, society security system exists the great gap of fund, so that china must cash some state-owned assets urgently in order to make up the gap of society security fund. Fourth, state-owned shares liquidation is beneficial for the perfection of legal person administration structure in public companies. State-owned shares liquidation can decrease the higher proportion of state-owned shares in public companies. The share right of enterprises can be diversified, and the management efficiency of company can be improved. In a word, state-owned shares liquidation is necessary.Secondly, the paper discussed the probable difficulties and problems from nine respects and put forward the author's opinion on these things, first, according to theory aspects, the paper discussed that state-owned liquidation is only the alteration of state-owned assets forms and is not privatization. Second, the laws concerned about coordination is discussed from positive and negative aspects; Third, the problem of information issuing about state-owned liquidation is discussed detailedly;Fourth, the quality and scale of state-owned shares liquidation is researched; Fifth, The problems of requirement and provision of fund about state-owned shares liquidation; Sixth, about how to use the fund arising from state-owned shares liquidation , the author puts forward the authors opinion; Seventh, The price problem which is the core of state-owned shares liquidation was researched; Eighth, the sequence problem of state-owned liquidation is discussed, Ninth, the rational promoting plan of Zhoug guo Jia Ling & Qianluntai was analyzed, and the author puts forward the deficiency of the plans.Chapter two The principles and thought of state-owned shares liquidation.The principles of state-owned shares liquidation is put forward in this chapter. There are three kind principles. Namely, publicity, fairness and justice principle, steady principle and efficiency principle. Publicity, fairness and justice principle implies public, fair and just. Steady principle points out that the state-owned liquidation can not affect raising funds in stock market and fine operation of exchanging market. Efficiency principle indicate that the operation plan of state-owned shares liquidation should consider t...
Keywords/Search Tags:state-owned shares, state-owned shares liquidation, state-owned shares discountion, state-owned shares circulation, synthetically price/earnings ratio.
PDF Full Text Request
Related items