State-owned Shares Model Innovation

Our country stock market has a problem , which 2/3 state-owned oftotal capital of stock market can't circulate, affecting the normaldevelopment of the our country stock market ,and making our countrymanage structure get worse. How to resolve this problem, the localacademic fields put forward many suggestions,but these methods havetwo common flaws:one hand they can't apply widely so that they resolvea over share of the state –owned stock hardly; the other is a list priceproblem. This text inquiried into a kind of a new way according to how toreduce the share of the state—owned stock , the first we confirm areasonable price of the state-owned common stock and the issueingpreferred stock;the second when the preferred stock exchanges thestate-owned, giving the common stock shareholders a right that purchasethe preferred stock at a certain performance price;the last the back stockbecomes the storage stock of the company. The non-state-ownedshareholder has the power to transfer them freely ,then the righter maypurchase the preferred stock and exchange the storage stocks, thecompany will log off the exchanged preferred stocks at the same time.When all preferred stocks were procured and converted into the commonstock by the non- state-owned shareholder, all stocks carried outcirculating completely. This text text has five parts totally, the structure arrangement is asfollows: The foreword is part which introduces an existent problem of thestate-owned stock and the characteristics of the resolved way in brief,making a cushion for the next paragraphies. Chapter 1, mainly introduces the present condition of a sharestructure of the company. On the foundation that analyses the managingstructure of the modern company, the author points out our country existsa huge anti- bad between the ideal and actuality , then puts forward itsmain reasons that lie in the share structure so abnormal and concentratedthat the mechanism of checking and balancing power lack, the project ofreducing the state-owned must carry through. Chapter 2 is an analysis on some ways of reducing to hold thestate-owned stock and the main suggestions of the theories fields. theauthor first looks back two failing experiences that reduce the state stock,and points out the main reason why list a high price;The next, analyzesthe main suggestions of local academic circles;The end, the author pointsout the state-owned stock of reducing to hold can't hope to accomplish inone move, but must walk a gradual road, and follow the fair principle ofthe economy equity and societies at the same time. Chapter 3 is a core part that illustrates two conversions of"state-owned common stock â†' state-owned preferred stock â†' thepublic-owned common stock ", carrying out whole current of thestate-owned stock last.It includes five contents : The first it analyzes thenecessity and possibility which the state-owned common stock turns intothe preferred stock;The second aspect analyzes the conversionalproportion of the state-owned common stock;The third aspect discussesthe list price problem of the common stock and preferred stock in theconverting process;The forth aspect is concerning that the option isdesigned in the conversion process, it just resolves the structure problemof the share ownership which the state-owned stock turns into thepreferred stock conversion, but can not carry out all of the stock tocirculate, so must give the non-state-owned shareholder a buying option,in order to protect the state-owned shareholder and carry out wholecirculating ,at the same time, offer the shareholders of the state-ownedpreferred stock two different performed price of buying and the sellingoption;The fifth aspect discusses to increase a detail form on'thepreferred stock changing circumstance and dividendses to pay'in thelisted company annual report, the main purpose of which is to provideany useful information for the company managers and shareholers. Chapter 4 , the author reminds the readers should pay attention to afew realistic problems under considering the current state of...