Research On The External Guarantee And Risk Control For China Listed Companies

The listed companies guarantee is an normal economic behavior on the basis of the credit, if it is applied properly, it can promote both to the financing of credit transactions business, but also to promote the creditors, the debtor and the secured party to achieve win-win.. However, if handled properly, it will become a drag for capital market development. However, in recent years, China’s listed companies guarantee risk are happened in large amount.. A variety of violations, irrational guarantees behavior are not only detrimental to the development of their own business, but also have a negative impact on the development of capital market. Therefore, to standardize the behavior of listed companies guarantee and to control of listed companies guarantee risk has become an important issue of China’s capital market. The causes external guarantee of China’s listed companies is more complex, the laws and regulations on the behavior of corporate guarantee provisions are not clear, the corporate governance structure is not standardized, commercial bank credit mechanism is not perfect, and lack of supervision and other administrative supervision departments are important reasons for China’s listed companies external guarantee. Therefore, the establishment of a listed company’s external guarantee risk prevention system is a systematic project, it has important theoretical and practical significance to study the listed company guarantees and risk control.Based on the relevant literature at home and abroad, through the combination of empirical analysis and normative analysis, this paper makes in-depth analysis to the theoretical mechanism of company guarantees; it analyzes the theoretical mechanism and type of company guarantee, it also studies the development and characteristics of China’s listed companies external guarantee. On the basis of a comprehensive grasp of the current situation, the paper makes a empirical analysis of external guarantee impact on the enterprise value. The paper also makes a comparative study guarantee risk control regulations and experience in foreign countries, analyses the risks of listed companies guarantees, it proposes countermeasures to improve the listed company’s external guarantee risks from internal and external environment.