Research On The Reason And Influence Of Capital Occupation By The Major Shareholders Of *ST Gaosheng

Looking at the development history of A-share in the past 30 years,the illegal occupation of listed company's funds by major shareholders is one of the major reasons for the decline of listed company's performance.Major shareholders' occupation of funds through illegal guarantees,related transactions,direct borrowing and lending funds and other ways has a bad impact on the company,resulting in the decline of stock price of listed companies,and the forced delisting of shares triggered by St The system has seriously damaged the rights and interests of listed companies and investors.In order to strengthen the supervision of large shareholders' illegal fund occupation and assets of listed companies,the CSRC and many regulatory departments have organized many times of study,but from the frequent exposure of large shareholders' fund occupation events in recent years,the supervision is not perfect.The illegal occupation of listed company's funds by major shareholders has caused great harm to the company,investors and the market as a whole,seriously affecting the normal operation of the company,greatly increasing the operational risk of the enterprise,and also having a negative impact on investors.What's more,the frequent large shareholders' occupation of listed companies' funds is not conducive to the steady development of the market as a whole.Why is the illegal use of listed company funds by major shareholders repeatedly prohibited?Does the occupation of funds by major shareholders infringe on the interests of small and medium shareholders,and how to measure the loss of benefits to small and medium shareholders?What kind of impact does the occupationof funds by major shareholders have on the employees of listed companies,and how does it affect the company's financial and operating conditions?This article will conduct research and analysis on these issues through * ST Gao Sheng major shareholders 'occupation of funds.First,the research background of this article is briefly introduced in recent years.The domestic large-scale shareholders' capital occupancy incidents in recent years have attracted widespread attention in the market.The related research results at home and abroad mainly focus on the analysis of the reasons for capital occupancy,the analysis of the methods of capital occupancy,and the causes of capital occupancy.Consequence analysis in three aspects;at the same time,the concepts of major shareholders,capital occupation and principal-agent theory are defined.Secondly,comb the background of * ST's high rise,holdings,and capital occupation.Third,analyze the reasons for the capital occupation of *ST Gao Sheng major shareholders,and come to four major reasons:(1)supplement the funding requirements of related parties;(2)the relationship between major shareholders and related parties is complex;(3)the protection of minority shareholders' rights and interests Insufficient system;(4)Irrational corporate governance structure.At the same time,the impact analysis of * ST high-rise fund occupation incidents was analyzed from three perspectives of small and medium shareholders,management and corporate finance and concluded that:(1)the corporate governance structure can be improved;(2)the market supervision can be strengthened to increase the cost of illegal activities;(3)Strengthen internal control management and carry out three countermeasures such as internal control governance and construction.Finally,through the study of this case,the following conclusions were reached:(1)Improving the corporate governance structure can protect the rights and interests of small and medium-sized shareholders from infringement;(2)Strong market supervision and disciplinary measures help to reduce the damage of large shareholders to the company;(3)The occupation of large shareholder's funds hinders the development of capital market system construction in China;(4)The occupation of large shareholders' funds reduces investors' confidence in China's capital market.Through the study of this case,it is of practical significance to how theregulatory authorities deal with illegal behavior of major shareholders;it is of great significance to how listed companies protect their rights and interests from being infringed by major shareholders;and it is of great significance to how investors can reduce losses and improve their ability to identify risks.