State-owned share reduction and full circulation

Author: Zhang Guanghui
Publisher:
Publish Date: 2004-09-01
Features: The author systematically analyzes the history and current status of state-owned shares. Based on discussing the necessary conditions for full circulation, the book proposes a comprehensive and stable solution for the reduction of state-owned shares through methods such as converting shares into bonds, converting common shares into preferred shares, employee stock ownership, and additional financing. Meanwhile, in the field of full circulation, the author first introduces a series of new concepts such as information providers, sustainable operating major shareholders, low shareholding ratios, and restricted circulation, thereby forming a complete theoretical framework. This framework not only provides new theoretical foundations and perspectives for the reduction of state-owned shares and the full circulation of the stock market but also adds new insights to the continuous improvement of corporate governance theory. Based on foreign experience, the author proposes standardized operations from a legal perspective: legislation should precede the reduction of state-owned shares. All of these make significant theoretical contributions to the stable resolution of the split share structure and full circulation issue.