Research On Equity Structure Optimization Of CMII Meteorological Company

The ownership structure refers to the proportion of shares with different nature and the relationship between them.Ownership structure is an important part of corporate governance,ownership structure has a great impact on the company's operating incentives,reducing agency costs,and monitoring the internal governance mechanism.From the proportion of shareholders to distinguish the shareholders will be classified as the largest shareholder,institutional investors,management ownership and public shares.The proportion of shareholders affect the fundamental interests of shareholders.For such matters as merger,division,dissolution,liquidation,etc.,the higher the proportion of shareholding,the more will be the result of their own favorable.The company's ownership structure determines the company's production and business decisions,the impact of the company's operating efficiency and effectiveness.For most companies,it is necessary to optimize the ownership structure.With China's accession to the WTO,the influence of economic globalization,China's capital market is also rapidly developed,especially in January16,2013 inaugurated the new three board market,marking the multi-level capital market system in China was established.The new third market as a multi-level capital market is an important Chinese layer,from the listing threshold,hierarchical system,SME private debt issuance system,preferred stock system,provide a good platform for listed companies.However,the rapid development of the capital market and the increase of listed companies,listed company,also exposed a lot of problems.It is particularly worth mentioning is the battle of treasure million".The reason for the dispute of "ten thousand million" is that the hostile takeover caused by the imbalance of the ownership structure.Therefore,the optimization of ownershipstructure has become an important issue for public companies.Ownership structure is an important part of corporate governance,equity structure is reasonable,corporate governance can be improved in order to protect investors,in order to ensure that the company achieved good operating performance.Under this background,this article tries to optimize ownership structure theory research results,combined with the particularity of the instrument industry and Changchun cermex meteorological Polytron Technologies Inc,relying on equity structure theory,principal-agent theory,incentive theory and Maslow's hierarchy of needs theory,from the prospective study overseas dual equity structure and our country in this field.According to the related literature at home and abroad for the equity structure in the equity concentration,the proportion of institutional investors holding equity incentive and the relevant conclusions,puts forward optimization strategies for Changchun cermex meteorological equity Polytron Technologies Inc.Through the analysis of the ownership structure of the Weather Company found cermex cermex,meteorological current shareholding structure design is not reasonable,the proportion of state-owned shareholding is not reasonable,and the shareholding of institutional investors and the management stake are not reasonable.Analysis found that the author of Chimay meteorological problem causes,design of ownership structure distribution company is arbitrary,the government control of the company's equity reform more institutional investors in corporate governance role is unclear,and the restructuring of state-owned enterprises from full ownership caused.Aiming at the problem of equity structure of Weather Company Chimay exist,the author puts forward the optimization strategy.First of all,the company should adjust the ownership structure scientifically and reasonably,and increase the proportion of the largest shareholder.Secondly,the company should realize the "nationalization" of the property of the shareholders,and promote the exit of the state-owned stocks,so as to change the current situation of administrative intervention and low efficiency.Again,the company can look for institutional investors from the upstream and downstream of the industry,and to emphasize the strategic role of institutional investors in corporate governance.Finally,under the current legal conditions of our country,the company should gradually implement theincentive model of the business partner of Vanke,and look forward to the dual ownership structure in our country as soon as possible.