| 1. | There are many mechanics can be used , such as the preference share , the redeemable preference share , convertible preference share , the income bond , the anti - dilution clause , the protection against dilution , mandatory dividend , convertible preference bond , participating preference share , etc . however , in the contract freedom , some stakeholders , such as creditors , minority shareholders , suffer from significant information imperfections and negative externalities
原因在于，当公司向股东分配股票，包括股票股利、资本公积金转增股本时，不会导致财产流出公司，不会减少对优先股股东和债权人的担保财产，通常不会损害优先股股东和债权人利益，不会对优先股股东和债权人产生负的外部性。克服负外部性的机制之一是，通过程序强制，为第三方参加缔约创造机会。 |
