The Effect of Introducing the Warrant to Our Stock Reform

The introduction of the Warrant has provided the innovative tool for China's security markets.This paper begins with the concept and classification of the warrant,elaborates the power of warrant in the stock reform in detail and constructs the model to the warrant effect to carry on the quantity computation.Recognizing the characteristic the call warrant has,which is expected to rise as well as fall warrant to protect the fall,it is possible to effectively reduce the changing of circulate shareholder's wealth.