Research On The Balance Of Large Shareholders From The Perspective Of Conflict

With the Shanghai stock exchange for the first time issuing shares to the public for the first time in 1984 as the starting point,with the rapid growth of China's economy,the capital market environment in China's listed companies has undergone dramatic changes.On the one hand,many listed companies in China have carried out the split share reform.The stock ownership structure of many listed companies tends to be dispersed,and the balance mechanism of large shareholders is becoming more and more fragile.On the other hand,under the general trend of financial innovation and mixed operation,enterprises can raise large scale funds in the form of "insurance + leverage" in the short term.Based on this background,the Vanke stock dispute in July 2015 has attracted the attention of the whole society,resulting in turbulence in the capital market.Through analysis,it is found that there are internal environmental factors,external environmental factors and individual differences factors in the Vanke A equity dispute.The ownership structure and governance mechanism of Vanke's own ownership and governance mechanism have buried the conflict,and the external financial environment has created the soil for the conflict,and the different individual interest demands of the Vanke shareholders make the conflict break out in an all-round way.In the case of case impact analysis,this paper chooses the view that Lewis Coser has positive and negative functions of conflict.On the one hand,the conflict has affected the normal operation of the enterprise and caused the violent fluctuation of the whole capital market;on the other hand,the conflict promoted the integration of all parties,and promoted the formation of a new one.The stronger shareholder checks and balances mechanism also promotes the further reform of financial supervision.Finally,through in-depth exploration of Vanke's equity dispute cases,the following suggestions are drawn.On the perfection of equity checks and balances of Listed Companies in China: first,enterprises should improve the allocation ratio of shareholders with different status.Second,enterprises can reasonably adopt dual equity structure and perfect checks and balances mechanism.Third,enterprises can increase the terms of protection of corporate control.To improve China's financial regulatory system reform: first,explore the transformation from separate industry to mixed supervision mode.Second,guard against cross risk and strictly control lever level.This article seeks to help the listed companies to strengthen the equity balance through the case analysis of the Vanke A stock rights,and to maintain the orderly development of the capital market with the supervision of the external financial market.