A Case Study On Governance Of Benefit Encroachment By Major Shareholders Of Listed Companies

According to the CSRC announcement,in the first half of 2020 alone,there were 24 major cases of failure to disclose information about major shareholders’ appropriation of funds and illegal guarantee in accordance with regulations.But so far,the research on the benefit encroachment behavior of major shareholders of listed companies mainly focuses on the theoretical part,and the object of case analysis is relatively outdated.Therefore,with the help of theoretical analysis and case analysis,this thesis provides more solutions for the prevention,supervision and governance of benefit encroachment.On the basis of summarizing the domestic and foreign researches on the major shareholder embezzlement behavior,this thesis applies the corporate governance theory,adopts the research method of combining normative analysis and case analysis,and conducts a case study on the major shareholder embezzlement problem.The research content includes three parts: The first part is theoretical exposition,summarizing the research conclusions of previous scholars,and analyzing tunnel excavation behavior at the theoretical level;The second part is case analysis.Firstly,it introduces the basic situation of Yanan Bikang,analyzes the specific reasons,forms and means of major shareholders’ benefit encroachment,and then analyzes the economic consequences of the benefit encroachment from the financial perspective,and analyzes the governance effect of Yanan Bikang;The third part is the countermeasures and suggestions.Through the case analysis of Yanan Bikang and the analysis of the existing research content,the thesis believes that in order to reduce the occurrence of listed companies’ major shareholders’ embezzlement,it is necessary to start from the two perspectives of internal control and external supervision.Through the case study on the governance of major shareholders’ embezzlement of listed companies,the thesis draws certain viewpoints and conclusions.It mainly includes :(1)to strengthen the internal control system of enterprises,optimize the equity structure of listed companies,implement the supervision role of independent directors,and enhance the rights of minority shareholders;(2)To improve the external supervision system,improve the protection law of minority shareholders,strengthen the punishment of the interests of major shareholders,and give auditors stronger power.