Case Study On Major Shareholders Reduction Behavior Of Zhangqu Technology Co.,Ltd.

As China's stock market enters the era of full circulation,investors' profit-making methods are no longer as simple as relying on the company,according to the shares of listed companies held by major shareholders,the distribution of dividends and other forms of interest distribution,but gradually began to gradually Turning to the securities market: gaining income through the reduction of stocks in the secondary market.However,as China's securities market is still in the growth stage,relevant laws,regulations and regulatory measures are still not perfect.The major shareholders will use their special advantages in order to maximize their own interests and arbitrarily reduce their holdings when they are aware of the company's poor management.The phenomenon of large-scale selling of stocks to obtain more income has gradually emerged,causing different degrees of economic consequences: the behavior usually conveys negative information such as blocked business operations and insufficient growth,which damages the company's reputation and gives the company's operations.At the same time,the negative impact of development has also caused many small and medium-sized shareholders to have no hope for the long-term development of the company,and even lose confidence in the securities market,affecting the stability and fairness of the securities market,and is not conducive to the healthy development of orderly market.In order to further understand the behavior,the cause and the influence of the big shareholder undefineds reduction,this paper,taking the palm-interest technology as an example,analyzes the frequent reduction behavior of the large shareholders and gives some enlightenment.By adopting the method of normative research and case study,the author analyzes the reduction behavior of the big shareholder.In this paper,the background and significance of the research are first combed in this paper,and then the relevant literature at home and abroad is reviewed and the relevant concepts of the reduction of the large shareholders are defined,and the principal-agent theory,the signal transmission theory and the equity check-and-balance theory are set forth,respectively.Stakeholder theory.In the case part,this paper first introduces the ownership structure before the reduction of the main shareholders and the big shareholders,and also describes the background,the process and the result of the big shareholder undefineds reduction,and then makes a concrete analysis of thereduction behavior of the big shareholders and the reason of the reduction.Combined with the stock price and annual report data of the listed company in different periods,the paper sums up the influence of the reduction of the big shareholder of the company on the stock price,the small and medium-sized shareholders and the listed company,and finally,On the basis of the research conclusion,this paper puts forward some policy suggestions for the frequent reduction of the large shareholders of the listed company.In this paper,the author gives some inspiration to the analysis of the reduction of the shareholder undefineds reduction,and sums up the problems existing in the reduction process of the big shareholders,and provides a reference for the improvement of the national policy and the protection of the investors.Through the research,it is found that the large shareholders of the palm-interest technology have obtained the high income by using the reduction,resulting in the overall decline of the share price,the damage to the interests of the small and medium-sized shareholders,and the operation performance of the company.Therefore,it is important to perfect the corporate governance structure,and the decision making by the big shareholders is often considered at the angle of their own interests,and the interests of the small and medium-sized shareholders can be easily damaged if the corresponding shareholders are not bound by the corresponding shareholders.At the same time,it is necessary to establish and perfect the information disclosure system of listed companies and to improve the relevant laws and regulations on the reduction of large shareholders,to strengthen the tracking and monitoring before and after the reduction of large shareholders,and to protect the interests of the small and medium-sized shareholders.