Equity Disputes, Changes In Board Structure And Financial Consequences

With the continuous development of China’s socialist market economy,modern enterprise system is gradually improving.At the same time,the problems of listed enterprises governance have been emerging,major shareholders and professional managers of the control contradictions has been enduring discussion topic.In the past,the research on the contention of control is mainly from the perspective of the company’s ownership structure and social capital.But on the whole,few researchers are concerned about the structural characteristics of the company.Therefore,this paper will be combined with the previous research perspective and the company’s own structural characteristics,discuss the event of control the contention around the Vanke Group and Gome.In this paper,we will use the multi-case comparative research method to analyze the governance structure of the two companies,the way of opposing the external capital and the impact of control contention,and dig the fundamental problems that caused the instability of the control.Research on the three aspects of ownership structure change,board structure change and financial performance,to find out the commonness and differences between the two companies,and finally put forward the governance decisions.This paper argues that in the process of competition for corporate control,the company’s ownership structure,governance structure and financial aspects are reflected in varying degrees of change and negative impact.In terms of control,the proportion of ownership structure is the fundamental to maintain the control of its own shareholders,but also the basis for preventing the change of corporate control.In addition,the strict corporate charter design,extensive social capital and the introduction of a reasonable external capital,but also the key factors of corporate control.