股权分置改革中流通股股东的权益保护

On the Protection of Interests of Negotiable Stock Holders in Reform of the Non-tradable Stocks

股权分置是我国股市的制度性缺陷。2004年我国证券市场开始了股权分显改革,导致流通股股东和非流通股股东的利益重新分配。我国股权分置改革中存在政府观念转变及股东“搭便车”的问题,对此,应遵循公平和共赢的原则,进一步完善保护流通股股东权益的制度。

Non-tradable stock is systematic defect of China＇s stock market, and relevant reform began in 2004. This reform is a system change of the stock market that conduces to interests＇ redistribution between the negotiable stock holders and the non - tradable stock holders. Problems of transformation of governmental notion and ＂hitchhiking＂ of the stockholders exist in the reform of non-tradable stock, for which it should comply with the principle of equity and win-win, and ameliorate the protection system of interests of the negotiable stock holders.