From The Dispute Of Vanke, We Can See Behavioral Misconduct In Corporate Governance

Since reform and openness in 1978,China's economy has witnessed rapid growth. Meanwhile, the macro-environment where those domestic listed companies lives has undergone earthshaking change. On the one hand, our government is deepening the reform of the existing market mechanism zealously, trying to catch up with that of the western developed countries. Furthermore, it becomes widespread that listed companies tends to utilize mergers and acquisitions to expand their scope of business. On the other hand,our government,to accelerate the process of marketization, has revised and applied a series of law and rules about the capital market in China, as well as loosened the regulation of merger and acquisition.Additionally, financial innovation affords the companies a large sum of money by means of highly levered debt. As a result, the climax of mergers and acquisitions is on the way.Since 2015, the dispute over the control of Vanke has aroused great uproar.Because of its very special background and significance, Vanke's competition deserves us to study and analyze. With the gradual development of China's capital market, the domestic capital market needs to be further strengthened. At present, there are many researches on the control power and corporate governance in academic circles. However, there is relatively little research on the behavior bnomie of corporate governance in the process of control competition.In view of this, this paper takes the dispute over the control of Vanke as an example, and uses the literature research method and case study method to study the Behavior Anomie in the corporate governance caused by the decentralization of the ownership of the Vanke company. This paper first introduces the Vanke for the research background and significance, reviews on control rights and corporate governance literature and research, secondly, introduces the control theory, the interests of the company governance theory, stakeholder theory, information disclosure theory and Behavior Anomie theory. On the basis of this theory, this paper analyzes the particularity of Vanke's dispute, introduces the related background and analyzes the reasons for the dispute. This paper analyzes the control of Vanke competition process, Vanke anti hostile takeover defense mechanism design problems;the management of the existence of information disclosure violations; treasure to sources of funding are risk; independent directors irregularities and government regulatory defects and so on anomie behavior. Based on the above analysis of anomie behavior, to study the problems and compliance, finally put forward the corresponding reform measures,in order to speed up the process of improving the supervision system in China, to promote the rapid development of integrated supervision system of our country, so as to better regulate capital market on the fight for control of behavior.