【作者】 吴奇；

【导师】 鲁若愚； 毛妙昌；

【作者基本信息】 四川大学 ， 机械工程， 2002， 硕士

【摘要】 国有企业的股份制改造是国有企业建立现代企业制度的一种有效途径和手段。以往国有企业的股份制改造方法和模式在推进企业建立现代企业制度和完善公司法人治理结构方面作了有益的尝试，但这些改造方法和模式在诸多方面存在着弊端，突出的表现就是国有股所占比例过大、股份公司与集团公司“一个班子、两块牌子”现象严重、关联交易和同业竞争普遍，这对股份公司的可持续发展带来了潜在的隐患，需要进行深入地研究和探讨。本文以一家典型的国有企业——西南车辆制造厂为实例，对其股份制改造进行了详尽的方案设计和论证。本篇论文设计主要完成了以下方面的工作： 1．详细分析和论述了西车厂股份制改造的必要性和紧迫性，阐述了西车厂股份制改造对企业生存发展的重要意义。 2．比较分析了各种股份制改造模式，结合西车厂的实际情况，选择了最适合该厂实际的股份制改造模式，为其股份制改造方案的实施奠定了基础。 3．依照所选择的股份制改造模式，详细论述了方案的实施过程及步骤，对方案中涉及的大量具体问题分别提出了相应的对策和解决方法，并描述了实施方案的预期结果。 针对以往国有企业股份制改造过程中容易出现的的弊端，笔者在本方案设计中提出了如下创新的思路和方法： 1．在股份公司股权结构设置方面作了大胆的创新。针对以往股份公司国有股权占绝对优势的“一股独大”的现象，提出了“法人股东相对控股”的股权结构模式，将今后股份公司面临的国有股减持问题在企业股份制改造过程中就予以解诀。 2．在涉及股票发行定价方面，创造性地提出了“管理溢价系数定价法”，解决了以往股份公司股票发行价格虚高的现象。 3．提出了在股份公司上市后建立独立董事制度和股票期权制度的建议。目的是建立更为有效的公司法人治理结构，防止少数大股东损害中小股东利益，从制度上保证股份公司经理层勤勉尽责，保持股份公司长远可持续发展。 依据本方案设计，西南车辆制造厂能够由一家典型的国有独资企业，规范地改造为符合现代企业制度要求的一家股份公司，本方案对西车厂股份制改造有现实的指导意义。更多还原

【Abstract】 Reforms in joint-stock system in state-owned enterprises are effective ways and measures to establish modern business system. Those methods and modes used before in reform , have made beneficial attempt on pushing forward the valuable of modern enterprise system and perfection of management structure by juridical persons. Yet, some problems still exist in many aspects. For instance, state-owned stocks are taking too many in the capital shares; the situation that joint-stock company and its group corporation is of one set-up but with two names is serious; interactions and competitions of the same trade are common . All these have brought about latent dangers to the sustainable development of stock-holding companies. Taking as an example, a typical state-owned enterprise-the Southwestern Automobile Manufacturing Plant, the author makes a thorough study of the scheme in its stock system reform and proves it. The major points are as the following:1. The paper elaborately analyses and expounds the necessity and urgency to the factory to carry out reforms in its stock system, which is of great significance to theexistence and development of the enterprise.2. It comparatively analyses the various forms of stock system reform in accordance with the actual conditions of the factory. The mode that best fits reform has been chosen out and it sets foundation for the practice of the scheme.3. According to what has been chosen to the reform, it discusses in detail how to carry out the scheme, suggests appropriate measures and solutions with regard to what might happen in the practice and predicts their subsequent consequences.In dealing with the many problems that easily appeared in the past reform process, the paper proposes some new ideas in the scheme:1. It has set a bold step in the constitution of stock right in joint-stock company. In order to overcome the problem that state-owned enterprises are taking dominant position in the stock right to form "an overwhelming stock ", it suggests relative stock control , a stock right formation and solves the problem of the redution of stock proportion for state-owned enterprises to take .2. As far as stock issue and price fixing are concerned, it creatively offers the method of ratio pricing of premium on management and settles the problem of high price stockdistribution.3. It proposes to set up independent-director system and options stimulative system so as to execute effective management to prevent the small numbers of major stockholders from harming the interest of minor ones. In this way , it can be guaranteed that the persons in the management level work hard and take full responsibility to keep the long-term sustainable development of the stock company.According to the scheme proposed, the Southwestern Automobile Manufacturing Plant is able to transform from a typical solely stock-onwed enterprise into a stock company that accords with the requirements of modern bussiness system. Therefore, the scheme is of practical significance in guiding the reform in its stock system.更多还原