普通股优缺点Pros-and-cons-of-ordinary-share.doc

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1、TermPaperforGraduateStudentsProsandconsofordinaryshareCourseBusinessLawNameZhangMohanNumber2012265Date2013.12AbstractOrdinaryshareisthefoundationofcompany'scapitalstructureandabasicformofstock.Inthispaper,wediscussthedefinitionofordinarysharefirst,thencometotherightsandobligationsofordinar

2、yshare.Wefocusontheprosandconsofordinarysharemainlyfromfinancingperspectiveandcomparewiththepreferenceshareatlast.Aboveall,wegivesomeadvisetocorporatefinancing.1.ThedefinitionofordinaryshareAccordingtothecompanylaw,ordinaryshareisakindofstocktoenjoycommonrightsincorporatemanagementandtheal

3、locationofprofitandproperty.Itrepresentstheresidualclaimsofcompanyearingsandpropertyaftersatisfyingallclaimsofreimbursementrequirementsandpreferredshareholdersrights.Ordinaryshareisthefoundationofcompany'scapitalstructureandabasicformofstock.It’salsothelargestcirculationshare,themostimport

4、antstock,whichisalsocalledcommonstock.Atpresent,tradedontheShanghaiandShenzhenStockExchange,areallcommonstocks.2.Therightsandobligationsofordinaryshares.2.1.TherightsofordinarysharesOrdinaryshareholdersenjoythefollowingbasicrightsbasedontheirproportionofshares:(1)Thevotingrightstoparticipa

5、teincompany’sbusiness.Ordinaryshareholdersgenerallyhavetherighttoattendthegeneralmeetingofshareholders,voting,toelectandtobeelected.Alsotheycanindirectlyparticipateinthecompany'sbusiness.(2)Thedistributionrightsofprofit.Ordinaryshareholdershavetherighttogetdividendsfromthecompanyprofitdist

6、ribution.Ordinarysharedividendisnotfixed,assignedbythecompany'sprofitsituationanditspolicydecisions.Commonshareholdersshallhavetherighttoenjoythedividenddistributionmustafterpreferredshareholdersobtainfixeddividend.(3)StockoptionsIfthecompanyneedstoexpandthesaleofcommonstockshares,ordinary

7、shareholdersshallhavetherighttobuyacertainnumberofnewlyissuedstocksataspecificpricewhichislessthanthemarketpriceaccordingtotheirexistingstake,tomaintaintheiroriginalproportionoftheownershipofenterprises.(4)Theallocationrightsofremainingassetswhenthecompany'sba