| How to protect the equity of medium and small shareholders is an international problem. After 1970 s, western country has already began to perfect relevant legal system and establish supervisory institution.In recent years, medium and small shareholders has played an important role in the stock market. The confidence of medium and small shareholders has a strong relationship with the stability of capital market. Therefore, this paper analyze this phenomenon deeply, hoping the equity of minority shareholders could be protected in a better way.Based on relevant equity theories and the case of Yinrun Investment Ltd. We deeply analyze the behavior of this company which could seriously infringe the equity of medium and small shareholders. Including refusing to pay cash dividend, insider transactions, passing controversial resolutions, taking over a controversial enterprise, relate party transactions, pay excessive executive compensation.Besides that, other behavior which could seriously infringe the equity of medium and small shareholders also have been taken into consideration in this paper, Including False information disclosure, big shareholders expropriated the funds of company for a long time, illegal guarantee. The reason why these phenomena happen includes is complicated, including the infringement motivation of big shareholders, the speculative mentality of small shareholders, the cost in safeguarding the rights and interests is pretty high, lacking of the consciousness of rights safeguarding, unreasonable management structure and equity structure,information asymmetry, the mismatch of cash and power.Finally, this paper puts forward five safeguard measures, including perfecting management structure, perfecting legal system, establishing strict outside control system,improving information disclosure. From five respects, we hope infringement behavior could stop and be radically resolved. |
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