对股权分置改革中对价问题的思考

解决股权分置问题,让非流通股变成可以流通的股份,必然存在非流通股股东为换得流通权而向流通股股东支付对价的问题。为协调流通股股东与非流通股股东两者的利益,非流通股股东必须支付一定的对价,以作为取得流通权的成本,对价的高低不仅直接影响投资者的利益,而且是股权分置改革成败的关键。文章通过对第一批、第二批进行股改试点公司情况的分析,探讨了对价的高低对股改方案的通过率、股改上市后股价表现的影响,并提出了完善对价方案的建议。

The Thought of Consideration for Stock Right Splitting Reform

To solve the stock right splitting problem of turning non-floating stock into float stock,it would happen that non-floating stock holders pay consideration to floating stock holders for gaining circulation right.Non-floating stock holders must pay certain consideration as the cost of getting circulation right in order to coordinate.The height of consideration not only influences investors benefit but also decides stock right splitting reform success or defeat.This article through analyzing first batch and the second batch experiment site company situation,discusses the passing rate of the stock right splitting reform plan,the influence of the stock price performance,and proposes the consummation to the price plan measure