State-owned Shares Of Listed Companies In The Financial Thinking

In the first year of the 21st century, many hot topics emerged in an endless stream in the security market. How to reduce the state-owned stock is one of the focuses in the reform of security market. As we know, there are only 35% stock can be negotiable, while the other 65% are state-owned and corporate stock, which are out of circulation. This abnormal phenomenon has hindered the standardization of the stock market and the development of the economic reform. On the one hand, it hampered the function of the resource disposition in the capital market and made stock become only a tool of raising money. On the other hand, the unbalanced relationship of supplies and needs leads to a great deal of opportunistic behaviors in the stock market. In order to standardize the security market, adjust the layout of the national economy and maintain the value of the national property, we are urgently requested to reduce the high portion of state-owned stock and put them to the circulation of the stock market. Apart from this, the money we get from reducing the state-owned stock is one of the resources of the social security fund and will be beneficial to the improvement of stock structure in the company. So it is so important to the Chinese economic reform and China's entry to the WTO. This thesis focuses on the methods, price, use of the capital and the effect on the company. In order to carry this task forward, we must grasp the intension and extension of this problem from the principle of market economy and Chinese characteristic. It is also very important to analyze all the factors and their mutual function of the reduction of state-owned stock. We hope that the task can be carried out successfully according to the law of market economy.The thesis is composed of four parts:The first part is titled by the introduction of the reduction of state-owned stock. The economic background and definition are discussed in this part.In the second part three basic principles and four main functions of this problem are concluded.The third part introduced five methods and the influence to the financial management of issuing companies. Each method has its own features and adapts to different company according to their actual situation.The last part is the most important one of this paper. I put forward several key questions about this task and how to face them is what I try to make clear.