国有改制企业分散股权集中趋势的研究

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1、北京交通大学硕士学位论文国有改制企业分散股权集中趋势的研究姓名：刘世钧申请学位级别：硕士专业：工商管理指导教师：苟娟琼20070601ABSTRACTABSTRACT：It’samajorwaythatreformingthestate-ownedenterprisesthroughshare-issuingenterprises．Manymediumandsmallstate-ownedenterprisesadoptedthepatternthatthestaff-membersholdth

2、esharesequally．There’他somledifferentopinionstothesharesbeingdispersedintheworld．Someoneinsiststhattheslaarcsshouldbedispersedbeeausethesharestobecentralized躺themaincausethatthemajorshareholdersencroachuponthebenefitsofthesinailshareholders．Some蛐econs

3、idersthatthesharesbeingeenla'alizedcanencouragethemajorshareholdersandimprovetheadminislrativeefficiency．Whenreformingthemediumandsmallstate-ownedenterprisesthroughsharesdispersing,theeffectw勰goodearly,butthestaffworkersmaylbiIlI【hi911lyofshorttermpr

4、ofitsandignorethelongtcmlbenefitsbec2Iuseofthestateenvironmentsoftheeconomicsandlaws．Tocentralizingtheshares,itwouldrestrictdevelopingtheenterprises，itcouldenhancetheadministrativeefficienciesandsolvetheproblemsthatnobodybeinchargeofbecauseoftheshare

5、-issuingequalizing,disposeofthecontradictionsoftheresidualrightofcontrolandtheresidualrctUnl．，settlethequestionoftheprincipal-agentproblemandhascoursedthemoralhazardandnegotiatingcostofcontacts．Italsocouldmakethemanagementbepositiveinthemanagerialper

6、sonals．There’佗twomajorwaystocentralizethesharesnowadays．Oneisstrategyinveststakingpartin；theotheristomakemanagementbuy-outs(MBO)．MBOisthemainwayatpresentbecauseit'sdifficulttosearchstrategyinvests．Ithashavenanewtypereformtothestate-ownedenterprisesin

7、Changshafrom2000．Someenterpriseshawtumedintosharesequallybythestaff-membersandSOisChangshaBlowerWorks．Buttheconditionisnotverygoodfromanalyzingtheetfeetsofthereform．Theenterpriseshavesomedifficulties．Compactingtheconditionsofnowandpast，andanalysisthe

8、salltle仃ade，there’resuchdisparities．Theydidnothavethegoalsthatimprovethehumanengineeringandenhancethemanagement．There’resomeappearancesthatthestaffs眦equalitarianandignorethelongtermdevelopingoftheenterprisesandfocusOntheshorttimebenefits．There’sasurv