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论文编号：	1814
作者编号：	041962
上传时间：	2010/5/12 16:55:28
中文题目：	股权分置改革中网络投票制度的理论与实验研究
英文题目：	Theoretical and Experimental Study on Internet Voting System in Equity Separation Reform
指导老师：	李建标
中文关键字：	股权分置 网络投票 信息 场景
英文关键字：	Equity Separation Internet Voting Information Scene
中文摘要：	互联网的迅猛发展，使网络投票成为一种新兴的投票方式，这种投票方式比起传统的现场投票方式来说具有十分明显的优势，基于其特有的优势，产生了股东大会网络投票方式。在中国，由于股权分置改革的需要，产生了中国上市公司网络投票制度，网络投票被大范围地应用到股东大会投票表决之中。 本文重点研究目前股权分置改革背景下的中国上市公司网络投票制度。 首先，提出问题。分析当前中国上市公司网络投票制度的实际实施情况，收集了大量与投票相关的数据，通过对比现场投票与网络投票相关指标，发现二者的差异，从而提出问题。问题集中于三个假设：假设1，在其它条件不变的情况下，流通股参与率对流通股通过率无显著影响；假设2，在其它条件不变的情况下，信息交流对流通股通过率有显著影响；假设3，在其它条件不变的情况下，场景对流通股通过率有显著影响。 其次，分析问题。针对三个假设，从不同的角度去检验这些假设。采用理论分析的方法，重点从博弈论的角度检验假设1，并证明假设1成立；采用实验经济学中的实验方法，分别设计了网络投票实验与现场投票实验，在实验的实施过程中严格控制实验环境及相关变量，得出实验数据并检验假设2与假设3，最终证明假设2不成立，假设3成立。 在实验证明假设3成立的过程中发现新的情况，即场景对流通股通过率的影响分为两种情况：其一，当现场流通股数量较小时，场景的影响作用有利于非流通股股东；其二，当现场流通股数量足够大时，场景的影响作用有利于流通股股东。这两种情况是由实验归纳得出的，为了进一步验证这两种情况，设计了一个合作群体投票模型，模型检验的结果与实验结果基本吻合。 由于发现场景这个变量对流通股通过率有显著影响，因此本文提出优化中国上市公司网络投票制度的建议，即建议流通股股东应优先采取网络投票的方式进行投票。
英文摘要：	As Internet develops, it appears a new style of voting---Internet voting. Since Internet voting takes more advantage than traditional voting way, it began to be adopted at shareholders’ meeting. Besides, equity separation reform makes it necessary for Chinese listed companies to use Internet voting system, and thus the Internet voting becomes popular at shareholders’ meeting. At a background of the equity separation reform, this thesis will focus on the Internet voting system of Chinese listed companies. Firstly, find out what the problems are. This thesis will analyze the practice of Internet voting system, then select large quantity of data related to voting. Through comparing the related indicators between two ways of voting, this thesis could then suggest three hypotheses. The first hypothesis is: other conditions unaltered, participating percentage of negotiable shares works little on passing percentage of negotiable shares; The second hypothesis is: other conditions unaltered, information exchange works much on the passing percentage of negotiable shares; The third hypothesis is: other conditions unaltered, the scene works much on the passing percentage of negotiable shares. Secondly, analyze and verify the three hypotheses through different points of views. The first hypothesis is proved through the view of game theory and the theory analysis. The second and the third hypotheses are tested through experiments. This thesis designs experiments of Internet voting and present voting. Since the experiments scene and the related variables are strictly controlled, it could work out some useful data for reference. With these data, the second hypothesis is tested to be wrong and the third hypothesis is tested to be right. In the process of testing the third hypothesis, some unexpected results come out. There are two instances for the third hypothesis. One is: when the present quantity of negotiable shares are not enough, the scene is favorable for the shareholders of nonnegotiable shares. The other is: when the present quantity of negotiable shares are enough, the scene is favorable for the shareholders of negotiable shares. In order to prove these two incidences, the thesis then design a model named committee voting which gets nearly the same results as the above experiments. As it is verified that the scene works much on the passing percentage of negotiable shares, this thesis will make some advice on how to optimize the Internet voting system of Chinese listed companies. The advice is that the shareholders of negotiable shares should vote through Internet.
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