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| 文章编号：1672-3104(2021)01-0090-11 |
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农地经营权入股公司的差异化股权配置及其实现路径构想 |
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李灿，阳荣凤 |
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（湖南工商大学会计学院，湖南长沙，410205） |
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| 摘 要： 针对农地经营权入股公司存在的财权配置、股利分配、农户股份退出及清算阶段的农地经营权处置等现实难题，以“最优财权配置规则”为基础，构建了农地经营权入股中差异化股权配置结构和新的财务治理模式，设计了其实现的路径。研究发现：差异化股权配置能较好地解决农地经营权入股公司的现实治理难题，优先股治理模式是与差异化股权配置结构相匹配的财务治理模式；“保底分红”“按股分红”“保底分红+按股分红”三种分配方式均能很好地运用于农地股公司，且可从退股原则、退股条件、退股方式三个层面来探索合理的农户股份退出机制；“农地经营权不作为责任财产进行清偿”的权利没有存在的必要性，但赋予农户股东关于农地经营权的回购请求权是必要的。 |
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| 关键词： 农地经营权；入股；财权配置；差异化 |
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Company differentiated equity allocation and its realization path conception about taking shares of land management right |
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LI Can, YANG Rongfeng |
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（School of Accountancy, Hunan University of Technology and Business, Changsha 410205, China） |
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| Abstract: Aiming at the practical problems in the allocation of financial rights, the distribution of dividends, the withdrawal of farmers' shares and the disposal of farmland management rights, this study, based on the Optimal Allocation Rule, constructs differentiated equity allocation structure and new financial governance model in the ownership of farmland management right, and also devises its realization path. The study holds that (1) the differentiated share allocation can solve the governance problem of farmland management right in reality, and the preferred stock management model is the financial governance model that matches the differentiated share allocation structure; (2) The three distribution methods of "guaranteed dividend", " dividend by the share" and "guaranteed dividend plus dividend by the share " can be well applied to farmland stock companies, and the reasonable mechanism of peasant household stock withdrawal can be explored from three aspects: the principle of stock withdrawal, the condition of stock withdrawal and the way of stock withdrawal; (3) There is no need for the right that "farmland management right should not be paid off as the property of responsibility ", but it is necessary to give peasant shareholders the right to repurchase the right of agricultural land management. |
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Key words: farmland management right; shareholding; financial right allocation; differentiation |
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