A Study On The Causes And Influences Of Reduction Of Major Shareholders In Yongda Group

For A long time,there are two types of stocks in China's a-share market,namely tradable shares that can be freely traded and non-tradable shares that cannot be freely traded.In order to solve this problem in China's a-share market,we carried out the reform of equity division.After the reform,we paid attention to the fluctuation of stock prices of listed companies in the secondary market.All stocks have the right to trade in the secondary market,which changes the original profit mechanism of shareholders of listed companies accordingly.Major shareholders of listed companies are more willing to use its advantages in the enterprise information and financial information to bid up shares,holdings through the secondary market shares,again make gains profit,this trend has also intensified,made A great impact on Chinese a-share market,therefore,must take corresponding measures to regulate the behavior of major shareholders of such speculation.In this paper,according to the theory of market mechanism and contagion effect theory as the theoretical basis,in order to break through the traditional structure of the market mechanism theory theory of rational man hypothesis and completely completely arbitrage assumption to study management,how to make use of the stock market window to select the financing tool,using temporarily appear on the market of low-cost financing advantage,maximize the value of existing shareholders.This leads to the reaction of the research industry's share prices to the bad news that has erupted at its leading companies.The research object of this paper choose the wing tai group of listed companies,by wing tai group,in 2015 China's a-share market bull market phenomenon,and its largest shareholder Lv Yongxiang family with large holdings of shares on share-price volatility of enterprise are studied.This paper for the large shareholders' behavior and their positions are summarized,in the form of case study research big shareholders Lv Yongxiang family cash holdings behavior,and analyzes the cause of this behavior,and the secondary market reactions to the behavior.Based on this,the importance of regulating the reduction of large shareholders' holdings is introduced.Finally,according to the results of wing tai group,because the company changed the development strategy in the company of ecological layout consideration to introduce strategic partners,the implementation of the strategy process,there must be equity transfer;In addition,lv yongxiang,a major shareholder,lent the listed company without interest for the daily operation of the company due to the consideration of the company's capital.In essence,this reduction is the transfer of profits from major shareholders to listed companies.By studying the accumulative increase and the index such as the p/e ratio,the stock price of yongda group has a large overvaluation risk,and many factors may lead to overvaluation of the stock price.Therefore,the reduction of major shareholder lv yongxiang can be identified as the stock price overvaluation related.At the beginning of the big shareholders Lv Yongxiang holdings co,wing tai group,significantly higher excess stock holdings,its excess turned negative,thus it can be seen,in a short period of holdings of major shareholders Lv Yongxiang behavior would be a negative message to the market,will drive the other industry company stock of short-term fluctuations,this is the contagion effects of the industry.Finally,the conclusion is drawn,and the enlightenment of standardizing the behavior of major shareholders is given from the supervisory level,internal governance and external supervision level of listed companies...