Harbin Pharmaceutical Group’s Assets Reorganization On The Influence Of The Interests Of Minority Shareholders

China’s securities market has made remarkable achievements in the development of the past two decades. Capital market beginning to take shape, become an important part of the social market economic system. But because the stock market is imperfect legal system and other reasons, large shareholders against the interests of minority shareholders is widespread.Harbin Pharmaceutical Group, the major shareholder in the commitment and resolve intra-industry competition between two motives, were carried out reorganization of assets, the common purpose of both motivation is to protect the interests of small shareholders, but the reorganization of assets, in turn, may generate interest of minority shareholders influences. Therefore, in order to explore the reorganization of assets on the interests of small shareholders, we use event study and analysis of financial indicators, shareholding changes in stock prices and earnings indicators shareholder analysis. We find that the first reorganization of the interests of small shareholders protection is not obvious. The second reorganization of assets to achieve the protection of the interests of minority shareholders. Whereby the following conclusions:In the motive major shareholder commitment, asset restructuring can be against the interests of small shareholders to large shareholders to provide convenient channel; while the reorganization of assets in the settlement with the competition motivation under, to a certain extent, protect the small investors interests, the asset reorganization is an effective means to resolve intra-industry competition.Through the research company reorganization of assets to protect the interests of minority shareholders, First of all, we can give in this case study itself provides some suggestions on future development. Secondly, research to protect the interests of small shareholders aspect, on improving the protection of the interests of minority shareholders evaluate a certain reference value, and finally, through the protection of the interests of minority shareholders of the analysis, it can advance the interests of minority shareholder protection structural change, promoting internal corporate governance and external corporate governance.