Non-rational Behavior Of Large Shareholders In Corporate Governance Structure

Since the corporate governance to be extensive concerned, we always concentrate in the theories research of the proprietor and executive acts under the relation of entrust- act, the problem of the executive" the morals risk" guard against has been the core in the corporate governance.Actually with the concentration of ownership in listed firms, it comes the concentration of the control by the large shareholders. Under the trusteeship relation of the stockholders and the board of directors, the problem of the large shareholders usurping on small shareholders benefits have become more and more outstanding in current corporate governance. Large shareholders manipulate and control the company, and usurp on small stockholders benefits. In order to improve the performance of corporate governance, it is important to research on large shareholders' irrational behavior. What is the motivation of the large shareholders' ? Which is the main factor that affects the large shareholders' inept behavior ? The paper collected the related data, and made use of the related research result of the domestic, outside expert to establish model,and analyse the above problem: The legal institutions dissimilarity, the ownership structure is different, corresponding the degree of the large shareholders' inept behavior is also different, they exist a kind of inside and interactive mechanism.For controling the large shareholders' irrational behavior, protecting the benefits of the small shareholder, and improving the achievment of the company ,we must improve the legal institutions and the ownership structure, it is particularly important for our country corporate governance which exist the serious blemish in this both sideses .