| With the completion of the reform of non-tradable shares,the stock market of our country has entered a new stage of rapid development,outstanding performance in this period was unblocked is restricted stock,the company can major shareholders holdings through the secondary market Although major shareholders holdings for different reasons,but as a company insider,their positions are highly susceptible to the outside world wide attention,and different degrees of influence on securities market in 2016 and 2017,the China securities regulatory commission in order to manage and regulate the positions of shareholders,major shareholders of listed companies have issued about specification Dong high positions of several files,these files,to a certain extent,is helpful to guide the orderly major shareholders holdings,consummates our country stock market regulatory system this article selects all objects of education as a case analysis,mainly to explain and analyze the problems existing in the process of major shareholders holdings,and puts forward some constructive Suggestions to related question.Full text includes five parts: introduction: introduce the case example analysis thinking and suggestion to summarize and prospect the introduction mainly research background and significance,literature review at home and abroad method and structure innovation and the insufficiency of selection were introduced from the case such as case is all-pass education,mainly based on two points: first,the general education major shareholders vio lations underweight case occurred in 2017 holdings before the new rules,including the bridge holdings reduction of which is the main content of the new rules.Second,the majority shareholder of education was finally fined 600,000 yuan,which is a definite punishment in the punishment case of CSRC,which is enough to see the seriousness and representativeness of this case.Case analysis mainly from the economic consequences and process the harm reason in four Angle,imperfect supervision system of violatio n penalties low big shareholders a dominant advantage of commodity trading stock manipulation and use of bridge underweight tax avoidance are important factors for major shareholders violations underweight behaviors;In terms of process analysis,the major shareholders of education achieved the purpose of reducing their holdings in violation of regulations by accurately reducing their holdings at the early stage and reducing their holdings at the middle stage and frequently falling over each other at the la ter stage.The analysis of economic consequences includes the analysis of the impact of the reduction of large shareholders on the company's stock price and the interests of small and medium-sized shareholders.Dangers,the violation of law and seriously damage the interests of minority shareholders,challenge the authority of the laws and regulations in China all through the thinking of education case mainly around the small and medium-sized investors,regulators and the company itself and put forward the corresponding suggestion: for the listed company shall do optimize ownership structure to perfect the company independent director system stimulate the enthusiasm of small and medium shareholders to participate in corporate governance;In order to improve the information disclosure system of listed companies,the regulatory authorities should learn from the mature regulatory rules of foreign countries and intensify the punishment.For small and medium-sized investors,it is still a very correct choice to keep rational investment and avoid the blind investment of reducing value investment... |
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