目 录
摘要································································2
股权分置问题形成的原因··········································3
（一）、提高国有企业的经济效益···································3
（二）、为国有企业的不断壮大寻找新的资金来源·····················3
股权分置问题的弊端··············································3
（一）、股市功能错位·············································3
（二）、引发利益冲突·············································3
（三）、政策市···················································4
解决股权分置问题对股票市场短期内的影响··························4
（一）、补偿问题·················································4
（二）、股价下跌·················································4
（三）、要在实践中总结···········································4
解决股权分置问题对股市长期的影响································5
（一）、有利于改善上市公司的治理结构·····························5
（二）、管理层转变为公司价值管理者推动公司可持续发展·············5
（三）、利用资本市场进行并购扩张将成为上市公司增长的重要方式·····5
股权分置改革将对中国证券市场运行机制产生较大影响················6
（一）、 创新金融产品大大增加，可投资品种趋于丰富················6
（二）、上市公司估值将趋于合理···································6
（三）、恶意炒作行为将得到有效遏制·······························7
（四）、收购兼并现象将逐步增多···································7
对股权分置改革的一些建议········································8
参考文献························································1
内 容 摘 要
解决股权分置问题是继国有股减持被迫终止，管理层继续贯彻解决历史遗留问题，恢复证券市场有效性的又一重大举措，同时也是解决全流通问题的一块试金石，为以后的全流通铺平道路，因此，在理论意义上说，解决股权分置问题将是中国证券市场从此走上正规、有效道路的重要转折点。本文通过实证研究与理论分析，比较全面地分析了股权分置改革对市场短期和长期的影响，并在研究的基础上提出了一些建议，为投资者加深对改革的认识以及转变今后的投资理念提供了参考。
关键词：股权分置改革；资源配置；股价下跌；制度变革
