国有股减持模式的比较与选择

上市公司国有股减持可以分为公开市场和私下市场两种基本模式,现有的减持方案可以分别归入这两种模式,它们各有适用范围,都能在国有股减持中发挥作用.根据目前的政治、法律和经济条件,国有股减持应当以私下市场模式为主,适当进行公开市场模式试点.

The Reduction Model of State Owned Shares: Comparison and Choice

This thesis focuses on the issue of state owned shares reduction in Chinese listed companies. The author holds that state owned shares can be reduced by two models: by public market and private market. Public market model has some advantages in transparency and fairness, but this model can introduce price risk because it increases the number of negotiable shares. On the other hand, private market model can not make state owned shares negotiable and remain market stability, however, this model lacks transparency and will brings about corruption easily. From an empirical analysis of present political, legal and economic environment and condition , private market model can to be chosen first, while public market model be used upon experiment in some specific companies.