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Study On The Legal Regulations Of High Ratio Of Stock Split Of China's Listed Companies

Posted on:2021-12-29Degree:MasterType:Thesis
Country:ChinaCandidate:W YinFull Text:PDF
GTID:2506306107980539Subject:Law
Abstract/Summary:PDF Full Text Request
Since the reform and opening up,China's economy has continued to develop and the stock exchange market has continued to grow.At the same time,apart from the fact that the stock exchange market suffers from force majeure and systemic risks,the normal advancement of the market,technical problems and a large number of new problems caused by human error can not be ignored,they will also seriously damage the function of the stock exchange market.Based on this,whether the legal system can be effectively supplied and operated efficiently is facing a severe test.The market problems caused by the high ratio of stock split of listed companies that have been on the rise in recent years are typical representatives.How to correctly position the economic nature of the High ratio of stock split of listed companies on the law,how to Reasonably construct the High ratio of stock split legislative system of listed companies,how to rationally design the disposal methods and responsibility distribution of abnormally listed companies in the practice,in order to achieve Effectively maintaining the order of the securities trading market,protecting the interests of investors and the public interest of the securities trading market has become an important issue that urgently needs to be addressed.Therefore,it is undoubtedly of great theoretical and practical value to study the issue of High ratio of stock split of legal regulations to listed companies in China.Practice has shown that the market problems caused by the high ratio of stock split of listed companies cannot be underestimated.For example,in the case of the High ratio of stock split incident of Hareon Solar,it revealed the ugly act of the major shareholder of the listed company to use High ratio of stock split of the listed company to cooperate with its reduction and arbitrage to the securities trading market.This behavior not only caused Hareon Solar to be hit hard,but also severely hurt investors' confidence in the stock exchange market and undermined the stable development of the stock exchange market.Therefore,this paper will be based on the status quo of High ratio of stock split legal regulation of listed companies in China,explore the shortcomings of High ratio of stock split legal regulation of listed companies in China,and analyze the legal reasons leading to this problem.At the same time,it combines the practice of legal regulation of High ratio of stock split of listed companies in the United States and Hong Kong of China,and then proposes specific recommendations for improving the legal regulation of High ratio of stock split of listed companies in China.In addition to the introduction and conclusion,the article includes the following five parts:The first part,mainly introduces the basic knowledge of the High ratio of stock split of listed companies and its legal regulation.Including the basic meaning,main features,market effects and formation motives of listed companies,as well as the basic meaning,main content,main features and basic values of listed companies' High ratio of stock split legal regulations,and strive to understand the High ratio of stock split of listed companies.The general content of the High ratio of stock split of listed companies,which lays the foundation for the writing of the following texts.The second part,analyzes the theoretical basis of the High ratio of stock split legal regulation of listed companies.Including the economic perspective of restoring market imbalances and reducing market information asymmetry,from the political perspective of improving government administrative capacity and ensuring the safety of national economic operations,from the perspective of solving the investment security needs of investors and discovering the rules of the securities trading market.From the perspective of sociology from the promotion of the securities trading market and the sustainable development of the real economy,clarify the legitimacy and necessity of the High ratio of stock split of legal regulations to listed companies;the third part,from the practical point of view,This paper analyzes the current situation of High ratio of stock split legal regulation of listed companies in China,and summarizes the problems and causes of the High ratio of stock split legal regulation of listed companies in China.These include issues such as inadequate legislation,inadequate information disclosuresystem,lack of efficiency in market supervision mechanisms,and restrictions on remedies.At the same time,they also explore the main causes of the above problems,and provide basis and guidance for solving the above problems and improving system design.The fourth part,based on the specific circumstances of the High ratio of stock split legal regulation of listed companies in China,combined with the legal governance experience of the securities trading market outside the domain,is mainly the legal governance experience of the United States on the High ratio of stock split of listed companies.: including pre-examination,in-process supervision,and post-processing mechanisms for the behavior of the conventional securities trading market,to achieve comprehensive supervision of the securities trading market;and to make a legal distinction between the stocks of stocks and the stock splits.Reasonably guide the market expectation,and summarize the useful experience on this basis,and provide reference for improving the High ratio of stock split legal regulation of listed companies in China;the fifth part,based on the above parts,is listed for China How to improve the company's High ratio of stock split to existing legal regulations State listed companies to send high legal regulation put forward concrete proposals and ideas put forward suggestions to strengthen legislation,improve the information disclosure system,improve the efficiency of market supervision,improve the relief system,optimize the investment into methods.
Keywords/Search Tags:High ratio of stock split of listed companies, securities trading market, legal regulation, market supervision
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