| With the development of the securities market and the increasing number of companies,the small and medium-sized companies tend to attract social funds to expand the scale,the National Equities Exchange and Quotations came into being.By listing in the National Equities Exchange and Quotations,the company can improve its business performance quickly and optimize its own management model,so that it can attract more capital for business and development and achieve the purpose of financing.However,due to the low entrance threshold of the National Equities Exchange and Quotations,the size of the company in the market is generally smaller than that of the main board,the internal governance is not perfect.Many problems are encountered in the process of development,and the capital occupancy of the large shareholders is one of them,and it is an important one.The problem of the capital occupancy of the large shareholders has not only affected the normal operation and development of the company,but also has produced a very terrible influence on the long-term development of the securities market,which needs to be solved urgently.This paper first analyzes the background of the research.As a company with less than 4 years' listing time,Feida shares frequently erupts the problem of large shareholders' capital occupation,which is not only a defect in the internal related governance of the company,but also the external market supervision is also a problem.Therefore,this article uses the literature research method,the case study method and the comparative research method to carry on the thorough analysis to this question.Through literature review,the relevant literature at home and abroad is reviewed and reviewed,and the main analysis direction of major shareholder's capital occupation is obtained and summarized.The main situation of the company's basic situation,management,ownership structure,governance structure,the capital occupancy of the large shareholders,and the data analysis of the way and the performance of the large shareholders' capital occupancy are carried out by the case study.Through the analysis of the influence of the comparative study on the capital occupancy of large shareholders,the conclusion of the four dimensions of debt paying ability,operating ability,profit ability and development ability caused by the capital occupancy of large shareholders has been concluded,and the image of the company is affected by bad influence,small and medium shareholders and others.Investors' rights and interests have been infringed,which also makes the role and efficiency of the securities market in capital allocation lower and investors' confidence lower.In the analysis of the causes of large shareholders' capital occupation,two aspects of internal and external reasons are considered,and the internal reasons are as follows: one is the "one stock" ownership structure,which makes the internal control restrict each other;the two is the internal governance is imperfect,there is a forked job,the related party holds the job;three The major shareholders of the company are weak in compliance with the punishments of the SFC.The external environment problems are: the first is the lack of external supervision,the lack of strong regulations in the market,the low operability of the existing laws and regulations;two,the low cost of the violation of the rules of the large shareholders,the payment of the fines,the return of the arrears,and the credited files.Simple ways such as cases and warnings;three,the inherent defects of the National Equities Exchange and Quotations,and the quality and good quality of the company,which sum up six reasons.Four suggestions are put forward with the relative ratio of the main board market or foreign excellent experience,ownership structure of the company,improve the internal governance of the company,increase the punishment and strengthen the external supervision. |
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