Discussion Of Funds Occupation By The Big Shareholders In Yichun Jin Yang New Materials Co.,Ltd

The funds occupation of the large shareholders has always been a prominent problem in the main board market of China.At present,the regulatory system of China's securities market is not very perfect.There are still many problems in the stock market structure of listed companies,such as the confusion of ownership structure,incomplete corporate governance structure and information disclosure.The new third board as an organic component of China's multi-level main board market system,is still in the early stages of development,transaction mode and supervision mechanism and the main board market differences,smaller listed company,concentrated ownership structure,the degree of perfection of corporate governance and internal control is not up to the level of listed companies,and securities market legal system construction is lagging behind,the funds occupation disaster caused by flooding water.Large shareholders occupy and grab various forms of funds of listed companies.The ways of direct lending,illegal guarantee,and the transfer of assets by related transactions emerge in an endless stream.The means are invisible and complex,which adds difficulties to regulatory review.Therefore,how to take effective measures to cure the large shareholders' funds occupation,so as to ensure the protection of the interests of the majority of investors,is an urgent problem to be solved at the moment.At present,domestic scholars analyze the issue of large shareholders' funds occupation,focusing on the empirical analysis and theoretical research of the main board market.Based on the background of the new third board,select the Yichun Jin Yang New Materials Co.,Ltd by Share Ltd as a case study,the major shareholder capital case company taking various forms,various means,is a typical case of new third board's funds occupation.To control the position of the company by the chairman and general manager,to deceive investors,the company private placement to raise funds and operating income out,direct embezzlement of company funds about 20 million,and the illegal guarantee allow the company to pay for its personal debt,not only seriously hindered the normal operation of the company,but also have a negative impact on the overall development of the new third board.This paper through the large shareholders' funds of Jin Yang New Materials Co.,Ltd the consequences of occupation,analysis of large shareholders funds occupation motivation and deep causes of the implementation of occupation to further explore ways to prevent,solve improriated capital enterprises and listed company,to regulate the management of listed company has important significance to promote the new third board reform process.This article is divided into six parts: the first part is the introduction.This chapter mainly introduces the research background and the significance of the research.Combing the main research results of authoritative scholars at home and abroad and reviewing the literature,and clarifying the ideas and methods of the research.The second part is an overview of the theory of funds occupation of large shareholders.This chapter of the big shareholders and large shareholders funds were defined,summed up the main way of controlling shareholders' embezzlement,embezzlement and fraud theory,asymmetric information theory,triangular theory from the internal interests of large shareholders occupied capital motivation and opportunity analysis.The third part is the overview of the fund occupation by the major shareholder of Jin Yang New Materials Co.,Ltd.Based on the basic situation of Jin Yang New Materials Co.,Ltd,this chapter analyzes the four ways of capital occupation by major shareholders layer by layer,and reveals why it occupies company funds from the perspective of major shareholders.Reveal how it takes covert measures to implement the funds occupation.The fourth part analyzes the reasons why Jin Yang New Materials Co.,Ltd's major shareholder funds occupation can be achieved.This chapter mainly analyzes what kind of covert measures the major shareholders take so that the funds occupation has not been found.Based on the internal governance and the external supervision environment,this paper analyzes the reason why the capital occupation can be realized.The fifth part is the analysis of the influence of the funds occupied by the major shareholder of J Jin Yang New Materials Co.,Ltd.This chapter mainly elaborates on the harmful effects of fund occupation caused by the adverse impact on the securities market of the listed companies themselves,shareholders and creditors after the majority shareholders occupy funds.The sixth part is to prevent Jin Yang New Materials Co.,Ltd's large shareholder's funds occupation suggestion.This chapter summarizes the common problems of listed companies,based on case companies as starting points,comprehensively considers the influencing factors of capital occupation by large shareholders,and from the perspective of internal governance of the company needs to be strengthened and the external supervision system needs to be perfected.Specific preventive measures are proposed.