Study On Dual Share Structure Of Listed Companies

With the development of the commercial society,enterprises are seeking greater space,expanding scale and increasing financing demand,but at the same time,equity dilution is also an urgent problem to be solved.Represented by the battle between Vanke and Powerlong,the game between control right and management right has aroused fierce discussion in the capital market.In recent years,Alibaba,Baidu and other domestic Internet innovative enterprises choose to go public in the United States in order to control the stable control of the company,and the concept of dual ownership structure has gradually come into our vision.At home and abroad,the dual ownership structure of praise and criticism.China is in the period of economic transition and the system construction is constantly improving.Therefore,the domestic capital market has not introduced this special shareholding structure for the time being.At present,in addition to the HKEX 18 years just released the IPO rules,other domestic stock exchange are the default using a single ownership structure,but with the right principle and can’t meet the demand of diversified financing in emerging startups,in recent years,the capital market faces the loss of high quality public resources for many times,in order to solve the contradiction between equity financing and control transfer,and the capital market is an urgent need to reform.Based on development of dual share structure,characteristics and as well as to the ownership structure in our country,the development path of many aspects,such as selection of JD belongs to an industry with Suning bought two but different equity structure of double case,comparison analysis method,through point with surface,analysis the financing strategy,strategy and business performance,comparing the similarities and differences between different companies operating in the equity system,finally put forward reasonable Suggestions and vision of the future.