重点研究上市公司自下而上持股的动因、效果及合规性分析

Xia Jiansan
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引用次数: 0

摘要

为了维护市场稳定,控制证券市场风险,国家鼓励上市公司通过增持、股权激励、回购等方式支撑股价,地毯式增持方法应运而生。就企业组织而言,上市公司增持的动机是为了维持股价,缓解大股东股权质押平仓的压力,帮助股东获取利益。短期来看,地毯式增持一般不会对股价产生积极的影响,但也决定了员工和大股东能否成为一致的行动者,判断是否会触发收购要约,分析如何保护投资者的合法权益。本文将以A公司为例,简单分析上市公司的动机、效果和合规性。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
Focus on the motivation, effect and compliance analysis of listed companies' bottom-up holdings
In order to maintain the stability of the market and control the risks in the securities market, the state encourages listed companies to support their stock prices by means of overweight, equity incentive and repurchase, and the blanket overweight method came into being. As far as enterprise organizations are concerned, the motivation of listed companies to increase their holdings is to maintain the stock price, relieve the pressure of large shareholders' equity pledge and close their positions as well as assist shareholders to obtain benefits. In the short term, blanket overweight generally does not lead to the positive effect of stock price, but also determines whether employees and major shareholders can become consistent actors, judges whether it will trigger tender offer, and analyzes how to protect the legitimate rights and interests of investors. This paper will take Company A as an example, and simply analyze the motivation, effect and compliance of listed companies.
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