企业回收股票案例讨论分析.pdfVIP

股票回购是指上市公司回购自身发行在外的股票 , 以达到调整股本结构 或减少资本等目的的一种公司理财行为 , 是上市公司提升股票市场价值的 重要手段。我国在 20 世纪 90 年代为了解决上市公司国有股比重过大的问 题 , 开始引进股票回购这种新型资本运作方式。随着我国上市公司和资本主 义市场的不断壮大 , 上市公司对股票回购的需求也在稳步增加 , 为规范上市 公司回购社会公众股的行为 , 中国证监会于 2005 年 6 月 16 日正式发布并实 施了《上市公司回购社会公众股份管理办法 ( 试行 ) 》, 这标志着伴随股权分 置改革的进行我国的股票回购进入了一个崭新的阶段。 本文出于对股票回 购过程中产生的各类风险进行有效控制的目的，对我国上市公司目前股票 回购概况以及进行回购的各类动因进行了分析，从公司、债权人、国家宏 观调控三个方面揭露了现阶段股票回购所暴露的问题，并针对这些问题提 出了加强法律监管、完善信息披露、控制资产负债率等相应对策。 关键词 ：上市公司股票回购动因问题 I / 11 Abstract Stock repurchase refers to the listed companies buy back their own shares outstanding, so as to adjust the equity structure or capital reduction, the purpose of a corporate finance behavior, is the important way to promote the stock market value of listed companies. In the 1990 s in China in order to solve the problem of excessive proportion of state-owned shares of listed companies, began to introduce the new capital operation form of stock repurchase.Along with our country listed company and the growing capitalist market, the demand for stock repurchase of listed companies also increased steadily, to regulate the behavior of listed companies to repurchase the social public offerings, the China securities regulatory commission on June 16, 2005 officially issued and implemented a listed companies buy back shares the social public management method (trial), this symbolized along with the reform of non -tradable shares of stock repurchase in China has entered a new stage. Occurring in the process of this article for the stock repurchase, the purpose of all kinds of risks for effective control of listed companies in our country current stock repurchaseov