The Research On Dual Ownership Structure Of Listed Companies

With the development of The Times,the single equity structure has been unable to meet the needs of corporate governance.Based on alibaba group's innovative dual share structure-lake partner system for case study,analyze the dual share structure of listed companies,for our country to build dual share structure rationalization proposal is put forward.The research objective of this paper is to make a case study so that we can understand the dual ownership structure more clearly and realize the early localization of dual ownership structure.Its significance lies in that,first of all,China's current research on dual ownership structure is still in the immature stage of development,which is of great significance to enrich dual ownership structure.Second,the innovation of science and technology enterprises listed overseas,to our talent technology by erosion,domestic investors cannot share enterprise investment income,at the same time further marginalisation of domestic capital market,thus realize dual share structure is urgent.Third,the construction of dual equity structure not only provides a good environment for the development of Chinese local enterprises,but also increases the power to attract foreign capital and enhance China's international competitiveness.This paper first introduces the cases,this paper introduces the alibaba going public,the specific content of partner system,and analyzes the nature of the partner system,think partner system is an innovative dual share structure.Then,alibaba application of dual share structure is analyzed,from jack ma,yahoo softbank,the reason for investors to reveal the three different angles,on the basis of the application effect of alibaba dual share structure and application of risk analysis,the effect is conducive to the management for effective control,to motivate employees,be helpful for the long-term development of the enterprise.Alibaba dual share structure,of course,there is also the common Stockholders' equity is limited by large,and partner conditions are not clear,are also facing team abuse power for personal gains,effective risk control supervision.Finally,according to the advantages and disadvantages of dual ownership,it brings enlightenment to the rationalization of dual ownership structure in China and puts forward Suggestions.The establishment of dual equity structure in China should promote the advantages of developing dual equity,make corresponding institutional arrangements and regulations according to its disadvantages,and reasonably avoid risks.To insist on the system construction,protection of rights and interests of minority shareholders and the interests balance two principles,appropriate limits for class B shares to ensure fairness,proceeding from its national conditions conform to the situation,establish and perfect the supporting mechanism,provide the guarantee to smoothly dual share localization in China.