The Analysis Of The Actual Controller’s Deprivation In Listed Companies From The Perspective Of The "Dual Control Chain"

In September2008, marked by lehman brothers’bankruptcy, the Wall Street financial crisis spread all over the world, the world economy might experience the most volatile and dark days, global stock markets were forgiving.After analysis of lehman’s corporate governance structure, we have a lot of questions, and all these problems make us think of actual controller’s control and deprivation problem.Abroad research about actual control problem deprivation has a history of15years or so,one of the mainstream analysis methods is the "equity control chain" analytical paradigm.The analysis method, however,has many limitations in countries where ownership is concentrated. Therefore,this article is trying to analyse the actual controller’s deprivation from the new view on the basis of "equity control chain" analysis methods,combining the discipline theory of social capital.For the high-speed developing capital market in China,it means a lot.Main content of this paper is as follows:the introduction is on the front,which mainly tells the study thoughts, research methods and framework structure, etc. The second chapter is literature review. In this section, the author compares the study of actual control person’s deprivation problems based on the review of previous scholars’.according to the domestic and foreign classification. The third part is "equity control chain" of the theoretical analysis. In this section,"equity control chain" concept is introduced, then it describes the actual control of the control structure and the main way of deprivation, introduces the content about social capital; Finally,it makes the detailed comparative analysis from the perspectives of deprivation’s motivation between the "equity control chain" and "social capital control chain". The fourth part is the control person’s deprivation under the "dual control chain".Under the analysis framework of the "dual control chain ",I make comprehensive analysis on the various elements of the actual control person’s deprivation, thus we can know more about the deprivation.The fifth part is the case study of actual control person’s deprivation. The fifth part is the actual controller’s deprivation case study.It first tells Topsun basic information, then analyses Topsun separately from the" equity control chain "and "social capital control chain",and then resolves the economic issues in recent years and concludes with an overview of the financial consequences of the deprivation.The last part of the article are the are the conclusions and advises.This paper’s main contribution and disadvantages:In this paper, on the basis of previous scholar’s study, I analyse actual control person’s control and deprivation from the perspective of social capital theory and fully illustrate the process of the actual controllers’ deprivation of listed companies.It has a certain degree of innovation, provides a new path for the related research. Paper analyses the actual controller’s deprivation deeply and in detail, from the perspective of "dual control chain", uses the case analysis improve the deficiency in the actual control person’s deprivation studies.However,at the same time it still has some defects, the analysis of the "dual control chain " is more focused on the discussion of theory, lack of the actual operation and application,and it just uses one case to verify the new theory. In addition, in the process of study, the data used are mainly from the network and indirect materials. It affects the comprehensiveness and accuracy, which will affect the credibility of research conclusion.