The Study Of The Monitoring Abnormal Capital Flow Based On The Perspective Of Investing For Other Enterprises

As the main component of the financial market,Security market isimproving with the development of financial market. Security marketin China is the product of reform and opening-up, and only comes outin recent decades. We made progress through these years, but it alsoshowed some questions. For example, the majority shareholderembezzle the interest of minority shareholder, and some even "empty"the listed companies. These problems restrict the Security market tobecome and develop to a healthy market, and it also affect thedevelopment of the listed company. As a result of China’s specialsystem, The ownership structure of listed companies and corporategovernance structure have many unreasonable places. For example,the shares in large shareholder’s company is higher, some even morethan 50%. Through a series of means, such as investing for otherenterprises, these major shareholders of listed companies may usetheir own absolute control to embezzle or occupy the funds of listedcompany,“empty”the listed company. Such behavior causes thelisted companies lost operating ability gradually, infringe on thebenefits of small and medium investors seriously, invert market function, hamper the market fair, and restrict the development ofChina’s capital market. But in this case, on the supervision of listedcompanies is relatively lagging behind. The result is that the regulatoralways find the abnormal status when the capital of listed companyhas been a huge hole, which is already irreparable. So how to preventthe executives of listed companies, the controlling shareholders andactual controllers misappropriate the funds, protect the interests oflisted company and medium and small investors, maintain the normalmarket order has became a focus of all parties.This paper analyzed the situation of abnormal capital flow basedon the Perspective of investing for other enterprises. From the casesof typical, summarizes the key points of the problem , constructs theabnormal capital flow model ,propose the Criteria for monitoring theAbnormal Capital Flow, application analysis, For research abnormalCapital Flow of Listed company Standing in the point of regulators.This paper is divided into six parts, the first part is introduction,including research purpose and meaning, frame works, and researchmethods. Second part is reviews related to the content, mainly arethe four aspects of investing for other enterprises of listedcompanies , research on accounting supervision of listed companies,capital abnormal flow control research and related research of cashflow, logistics and information flow. the third part is case studies offunds abnormal flow. By case study of the abnormal flow ofinvestment funds of listed companies, the results show key points offunds abnormal flow. The fourth part is the Criteria for Identifying theAbnormal Capital Flow, based on the identification of key points,raised the identification criteria of funds abnormal flow. So the view of this paper is that the capital flow of listed company for investing forother enterprises can be identified from following two aspects: one isthe rate of flow , flow velocity and flow direction of Capital flow,logistics and information flow; second is if the investment capital flow(logistics) can match the income funds flow(logistics). In themeanwhile, monitoring of abnormal capital flow for investing for otherenterprises can be improved by checking if the scale andperformance of listed companies can match investmentcapital(logistics) outflow. The fifth part is applied analysis ofabnormal capital flow. By collecting cases of listed companies andinvesting data in recent years, then analyze these data and connectwith the identification criteria of abnormal flow of funds , todetermine the investment for other enterprises behavior of listedcompanies, which describes the exception monitor of investing forother enterprises. The sixth part is conclusion, summarizes of thispaper and prospects the future research directions.