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Listed Companies Structure Optimization Study

Posted on:2003-03-13Degree:MasterType:Thesis
Country:ChinaCandidate:R DingFull Text:PDF
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The share ownership structure of China's listed companies is unreasonable in many parts. First,, it is dominant that only one stockholder held more than 50%. of shares in one company, which, is usually the state enterprise. Second, the shares held by the corporation and government departments are not negotiable. As a result, 2/3 of shares cannot be exchanged. Third, the executive stockholders are little. Along with China being a member of WTOr and the development of the capital market, the problems of the share ownership structure should be resolved urgently.The thesis on the research how to perfect the share ownership structure of China's listed companies discusses the ways to improve and rationalize the share ownership structure from four points. First, it is how to make the intensive degree of share ownership be reasonable. Second, it is how to reduce the shares owned by government and state enterprises. Third, it is how to make the securities not being negotiable be negotiable. Last, it is how to improve the operation of the ESO in China.The opinions of the thesis are as follows: The reasonableness of the intensive degree of share ownership depends on the specific condition. In a certain condition the centralization of share ownership may be favorable. And it expounds some problems confused how to reduce the state-owned shares. Meanwhile we put forward the theory of pricing the state-owned shares. We think the particular foundation is advisable to solve the problems. At last some suggestion is given about the application of the Executive Stock Options in China.
Keywords/Search Tags:Intensive degree of share ownership, Property right structure of share ownership, Circulation structure, Decrease and circulation of state-owned shares
PDF Full Text Request
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