本文選題：國(guó)有控股公司 + 優(yōu)先股　； 參考：《河北經(jīng)貿(mào)大學(xué)》2015年碩士論文

【摘要】：改革開放三十年來，中國(guó)的經(jīng)濟(jì)飛速發(fā)展，，經(jīng)濟(jì)體制改革不斷深化，作為經(jīng)濟(jì)形式特殊且重要的群體——國(guó)有企業(yè)關(guān)乎于經(jīng)濟(jì)發(fā)展的命脈，搞活國(guó)有經(jīng)濟(jì)，國(guó)有控股公司扮演著異常重要的角色，其在國(guó)家與企業(yè)中起著舉足輕重的作用。公司治理和相關(guān)制度在對(duì)資本市場(chǎng)的各種理論研究和探討已日漸深入，更加偏向于學(xué)理發(fā)面的發(fā)展。自20世紀(jì)90年代起，優(yōu)先股已被很多專家和學(xué)者認(rèn)知，并將其并入發(fā)展藍(lán)圖。鑒于自己的興趣，我更傾向于深入公司制度、章程和相關(guān)公司立法以及證券市場(chǎng)運(yùn)行機(jī)制來研究學(xué)習(xí)，也試圖在另一種理論高度并且兼具實(shí)踐操作上把握，特別于本文也希望有考慮到的若在發(fā)行優(yōu)先股后，相關(guān)的健全機(jī)制和完善的法律法規(guī)，并希望在于以后優(yōu)先股發(fā)行和購買方訂立購買協(xié)議時(shí)提一些自己的看法。 受限于我國(guó)資本市場(chǎng)發(fā)展歷程和市場(chǎng)環(huán)境的影響，我國(guó)的優(yōu)先股制度一直駐足于理論探索階段，但我們不可否認(rèn)優(yōu)先股作為一種融資手段和市場(chǎng)品種，已在國(guó)際市場(chǎng)上通行多年，在我國(guó)融入世界經(jīng)濟(jì)洪潮進(jìn)程中，優(yōu)先股制度絕對(duì)可以說是利大于弊的，優(yōu)先股制度在我國(guó)經(jīng)濟(jì)領(lǐng)域中，目前可以說是大行其道，多方位試點(diǎn)。收集的種種信息顯示：部分上市銀行正在積極開展優(yōu)先股試點(diǎn)的前期準(zhǔn)備工作，證監(jiān)會(huì)、銀監(jiān)會(huì)聯(lián)合起草的《商業(yè)銀行發(fā)行優(yōu)先股補(bǔ)充其他一級(jí)資本指導(dǎo)意見》已編制完成，這會(huì)在很大程度上促進(jìn)優(yōu)先股制度的進(jìn)程。國(guó)有銀行、各家大型保險(xiǎn)公司促進(jìn)著優(yōu)先股制度在具備天然優(yōu)越性的國(guó)有大型公司中發(fā)行，種種資料顯示，中建、保利地產(chǎn)對(duì)于發(fā)行優(yōu)先股都是摩拳擦掌，這終將帶來資本市場(chǎng)的變革。 本文的引言部分主要闡釋了論文的研究背景及目的，國(guó)內(nèi)外研究現(xiàn)狀及一些先進(jìn)成功經(jīng)驗(yàn)。優(yōu)先股制度不是一種多么新的制度，但確實(shí)是非常好用的制度，借鑒國(guó)外先進(jìn)發(fā)展經(jīng)驗(yàn)，因地制宜，結(jié)合我國(guó)國(guó)有經(jīng)濟(jì)特別是國(guó)有控股公司發(fā)展現(xiàn)狀，讓優(yōu)先股制度有理有據(jù)有借鑒地在國(guó)有控股公司中發(fā)展。 本文的正文部分由三部分組成。第一部分主要是介紹國(guó)有控股公司和優(yōu)先股制度的一般涵義、當(dāng)前學(xué)術(shù)界的爭(zhēng)論、現(xiàn)實(shí)可操作性和理論依據(jù)，從宏觀上把握國(guó)有控股公司精髓以及優(yōu)先股制度，找到二者結(jié)合點(diǎn)，深入分析，指導(dǎo)我們實(shí)踐。 第二部分主要闡釋當(dāng)前國(guó)有控股公司在理論和實(shí)踐方面遇到的困境。制度上的不完善、法律上的空白，造成了實(shí)踐上的障礙，這都制約優(yōu)先股制度在國(guó)有控股公司中的發(fā)展滯后，要沖破這種局面，我們要找到癥結(jié)所在，對(duì)癥下藥，掃清優(yōu)先股制度在國(guó)有控股公司中的障礙。 第三部分則是闡釋實(shí)行國(guó)有控股公司優(yōu)先股制度的一系列完善建議。國(guó)外關(guān)于優(yōu)先股制度的先進(jìn)經(jīng)驗(yàn)我們是可以借鑒的，我們有一些我們自身的現(xiàn)實(shí)問題，對(duì)于國(guó)有控股公司優(yōu)先股制度我們要從法律、制度、實(shí)踐、監(jiān)管等多方面予以完善，為其發(fā)展鋪平道路。本部分從對(duì)比國(guó)外不同法系國(guó)家應(yīng)用優(yōu)先股方式方法的不同，對(duì)比得出一些我國(guó)實(shí)踐中可借鑒的立法模式，從內(nèi)部運(yùn)行機(jī)制和外部管理手段提出了對(duì)于國(guó)有控股公司發(fā)行優(yōu)先股的一般規(guī)則和特殊程序，細(xì)化到一些具體細(xì)節(jié)，也望于今后發(fā)行者和購買者能夠予以借鑒，規(guī)避自身風(fēng)險(xiǎn)。
[Abstract]:In the past thirty years of reform and opening up, China's economy has developed rapidly and the economic system reform has been deepened. As a special and important group of economic forms, state-owned enterprises are related to the lifeline of economic development, and the state-owned economy is invigorating. The state-owned holding companies play an extremely important role in the state and enterprises. Since 1990s, priority shares have been recognized by many experts and scholars and have been incorporated into the development blueprint since 1990s. In view of their interest, I am more inclined to go deep into the company system, the Constitution and the related companies. Law and the operation mechanism of the securities market to study learning, and also try to grasp at another theoretical height and both practice and operation, especially in this article, which also hopes to consider the relevant sound mechanisms and perfect laws and regulations after the issue of priority shares, and hope that the future priority shares issue and the purchaser will conclude the purchase agreement. Some of your own views.
Limited to the development course of China's capital market and the influence of the market environment, the priority stock system of our country has been standing in the stage of theoretical exploration. However, we can not deny that the preferred stock is a kind of financing means and market variety, which has been used in the international market for many years. The priority stock system can be absolutely said in the process of integrating the flood tide of the world economy in our country. In the economic field of China, the priority stock system is in the economic field of our country. At present, it can be said to be a big way and a multidirectional pilot. The collection of information shows that some listed banks are actively carrying out preliminary preparatory work of the pilot of the preferred stock. The CSRC and the CBRC jointly draft the commercial bank issue priority shares to supplement the other first level capital. It will greatly promote the process of the preferred stock system. The state-owned banks, the large insurance companies, have promoted the priority stock system to be issued in large state-owned companies with natural superiority. The change of the field.
The introduction of this article mainly explains the research background and purpose of the paper, the status of domestic and foreign research and some advanced successful experiences. The priority stock system is not a new system, but it is really a very good system, drawing on the advanced foreign development experience, adapting to local conditions, combining the state owned economy, especially the development of the state holding company. In the current situation, the preferred stock system is well founded and has reference to the development of state holding companies.
The text part of this article is composed of three parts. The first part mainly introduces the general meaning of the state holding company and the priority stock system, the current academic debate, the realistic operability and the theoretical basis, and grasp the essence and the priority stock system of the state-owned holding company from the macro level, find the two combination point, analyze deeply and guide our practice.
The second part mainly explains the plight of the current state holding company in theory and practice. The imperfect system and the blank of the law have caused the obstacles in practice. It all restricts the lag of the development of the preferred stock system in the state holding company. To break this situation, we should find the crux of the problem and make clear the priority. The obstacle of the stock system in the state holding company.
The third part is to explain a series of perfect suggestions for the implementation of the preferred stock system of the state-owned holding company. We can learn from the advanced experience of the preferred stock system abroad. We have some practical problems of our own. We should finish the system of state holding company priority stock from many aspects, such as law, system, practice, supervision and so on. In this part, from the comparison of the different methods of applying priority shares in different countries of foreign countries, this part compares some legislative patterns that can be used for reference in our country, and puts forward the general rules and special procedures for issuing priority shares of state-owned holding companies from internal operation mechanism and external management means. Some specific details are also expected to be used by future issuers and purchasers to avoid their risks.
【學(xué)位授予單位】：河北經(jīng)貿(mào)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2015
【分類號(hào)】：D922.291.91

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