论文部分内容阅读
一、国企改革的过去和现在我国国有企业的改革,可以追溯到上世纪70年代末,先后经历了“放权让利”、“推行承包经营责任制”以及“转换企业经营机制和建立现代企业制度”三个阶段。从上世纪90年代中期以来,大型国企一般采取“局部改制、合资经营”或者“局部改制、分拆上市”的改制模式,这与我国证券市场的发展是密切相关的。从1990年底上海证券交易所开业到1994年以前,由于发行审核采用的是股份配额制,上市公司基本上都是由集团公司的资产分拆而来,因此大都属于分拆上市。从1995至2000年,由于额度制从股份配额改为家数配额,开始出现分拆与捆绑相结合的股份改制方式,实质仍属于分拆上市或部分上市。从2001年至今,随着证券市场发行
First, the reform of state-owned enterprises in the past and now The reform of state-owned enterprises in China can be traced back to the late 70s of last century, has undergone “decentralization and profit sharing”, “the implementation of contract management responsibility system” and “conversion of business management mechanisms and Establish a modern enterprise system ”three stages. Since the mid-1990s, large state-owned enterprises have generally adopted the restructuring mode of “partial restructuring, joint ventures” or “partial restructuring and spin-off listing”, which is closely related to the development of China’s securities market. Since the opening of the Shanghai Stock Exchange in late 1990 until 1994, the stock quota system has been adopted for issuance audits. Listed companies are basically spin-offs from the assets of the group companies, and most of them are spin-offs. From 1995 to 2000, because the quota system changed from the quota of quota to the quota of household number, the method of joint-stock reform combining the spin-off and the bundling started to appear, and the essence still belongs to the spin-off or partial listing. From 2001 to the present, with the stock market issue