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股权分置改革的实质是上市公司的非流通股股东支付对价给流通股股东以取得非流通股的流通权。非流通股股东向流通股股东支付对价一般有付现、送股、缩股三种方式,付现方式会影响非流通股股东的现金流量但不影响其持股比例, 送股及缩股方式虽不影响非流通股股东的现金流量但减少了其持股比例。不同的支付对价方式会对非流通股股东、流通股股东和上市公司的会计要素产生不同的影响,笔者对此试作探讨。
The essence of the non-tradable shares reform is that the non-tradable shareholders of the listed company pay the consideration to the tradable shareholders to obtain the non-tradable shares. Non-tradable shareholders to pay tradable shareholders to pay the price in general there are three ways, send shares, shrinking the cash payment method will affect the non-tradable shareholders, but does not affect its shareholding ratio, Although it does not affect the cash flow of non-tradable shareholders, it reduces its shareholding ratio. Different payment methods will have different impact on the accounting elements of non-tradable shareholders, tradable shareholders and listed companies.