The Study Of Controlling Shareholders' Equity Pledge Of Letv

In recent years,the equity pledge has swept the financing market as a tropical storm with its advantages of low cost and fast time.According to statistics,as of February 14,2018,a share market a total of 2,312 listed companies,the pledge has not been lifted,the number of outstanding shares of 529.189 billion shares,the total market value reached 6.67 trillion yuan,accounting for a share of the total market value of 11%.In the equity pledge of the wind swept the stock market is increasingly prominent,when the stock market shocks,the stock price changes,most companies will choose emergency stop,although can suspend the urgent,but virtually also affect the liquidity of the enterprise.When the stock price continues to fall,or even below the closed line,if not timely remedy,will make the listed company's control transfer.In view of this phenomenon,this paper uses the literature analysis,case analysis,event research and comparative analysis to analyze the motives and economic consequences of equity pledge by comparing the relevant data before and after the equity pledge.Through the analysis of the case of the shareholding pledge by Mr.Jia Yueting,the holding shareholder of the video network,this paper puts forward constructive suggestions on the future of the stake pledge governance of the video network,and at the same time,as a wake-up call for the shareholding pledge of the listed company,Beneficial to the controlling shareholder to better use the pledge of equity to create value for the company.This paper is based on the big environment of stock pledge upsurge,based on the theory of equity pledge,this paper mainly adopts the research method of case analysis to treat music as the research object,according to the bulletin data published by music and video,combined with the actual situation of the shareholding pledge of the holding shareholder of the video network,carding the process of the shareholding pledge of the controlling shareholder,Probe into the motives of its pledge.This paper analyzes the effect of equity pledge on the stock price of Lok-optic network by using the event research method,and analyzes the economic consequences of equity pledge by analyzing the impact of equity pledge on financial indexes,the influence on small and medium shareholders and the influence on the operation of the company.Finally,the paper puts forward some suggestions on the actual situation of the video network.According to the analysis,it is found that the reason of the Jia Yueting holding shareholder's pledge is to construct the seven ecological system of music and view,to stabilize own equity and to have the suspicion of interest encroachment.The act of Equity pledge is lawful,but if the stock pledge is frequently carried out and the amount is obviously too large,it will have negative effect on the company and have bad economic consequence.First of all,the price fluctuation of the company is reflected in the short term market performance during the early pledge and the late pledge,while the market performance is better during the pledge proportion,and the large proportion pledge will have bad effect on the financial condition of the enterprise.The high proportion of controlling shareholder's pledge equity will cause the control of the whole power and the cash flow right serious separation of the interests of small and medium-sized shareholders to occupy;at the same time,the frequent pledge of equity will make the company have the capital of crazy investment,easy to produce irrational investment impulses,not conducive to long-term investment strategy Not conducive to the adjustment of corporate financing structure,when the stock price fluctuations,it will also trigger a strong crisis,the formation of adverse public opinion and the transfer of control of the risk of corporate interest damage.This article has carried on the concrete analysis to the video network's concrete situation,has put forward the reasonable suggestion to be helpful to the future equity pledge governance of the music vision net.Success may not be replicated,however,the failure is always the same,the article through the music as a case,carding the music network holding shareholder equity pledge process,to explore the causes of its pledge and the economic consequences,local conditions to put forward the proposals for the management of equity pledge,and combined with the listed companies equity pledge of the great environment to get the corresponding.