双重股权结构概述中英文外文文献翻译2017.doc

本科毕业设计（论文） 中英文对照翻译 (此文档为word格式,下载后您可任意修改编辑!) 文献出处: Santor E. Dual shareholding structure：the overview[J]. Journal of Banking Finance, 2017, 3(11): 242-254. 原文 Dual shareholding structure：the overview Santor E Abstract Dual share structure, is refers to the companies issuing shares two or more of the votes, and set up the corresponding rights and obligations on all kinds of stock equity structure. Management is generally it has advantage of voting common stock holders, in order to encourage the public to investors to buy inferior to optimal level shares of common stock (later referred to as subordinated shares), secondary shares will give more generous dividend, at the same time also will limit premium grade stocks in some areas, such as optimal stock transfer restriction. In addition, due to differences in national legal system and the market mechanism, the dual share structure in the form of expression and regulation of each country also has very big difference. Keywords: equity structure; Control; Partner system 1 Introduction Dual share structure is mainly to break the shackles of same stock rights, the founder of the company or team for the companys control. Incomplete contract theory enterprise contractual control can be divided into specific control and residual control, refers to the specific control could be clearly defined by the contract in advance of control power, which explicitly stipulated in the contract the contract party under what circumstances detailed how to use the power of surplus control is not clearly defined in the contract that advance how to use the power of assets in the final contract is qualified special purpose beyond how to use the power of being. Control is divided into absolute holding and relative holdings, and whether the form of absolute or relative holding, can become the companys controlling shareholder, to grasp control of the company. As a result, many small shareholders or worry to weaken its control by listed companie