A Research On The Consideration Schemes Of Shareholder Structure Reform

As the schemes of shareholder structure reform declared,market sets a high value on it and comments variously.However,different estimation standards effect directly on the comprehension of shareholder structure reform and the schemes themselves.Through the analysis of shareholder structure reform,the consideration has actually been the focus problem of the reform.This research aims at the contrast of different schemes, which afford deep comprehension of the shareholder structure reform based on consideration measure and consideration payment.At the part of the consideration measure,the paper proposes the fair consideration by the value invariance principle,which points out the corporation value,tradable shares value and non- tradable shares value are invariable before and after entire tradable.For the feasibility anlysis of the results,this paper lists different existing consideration measures,and compares both the advantages and disadvantages of them all.At last,the paper agrees that fair consideration is more reasonable and accurate in estimating non-tradable shares,although the deficiency exists.To analyse the rationality of the consideration schemes which the companies declares,this paper chooses thirty experimental companies in the seventeenth to nineteenth groups in the reform,using econometrical multianalysis and draws the conclusion that many firms have made unreasonable consideration schemes.This paper also proposes some suggestion in policy for the management of all the relations in the market.And also expect the securities market in the after non-tradable shares age.