Study On Large Shareholders And Collusion Tunneling Defects Of Corporate Governance

In case of conflict,the ownership concentration,the most important agency problem is not Jansen and maccollin proved by shareholders and managers,but the conflict of interests between large and small shareholders.Especially large shareholders and collusion tunneling enterprises,illegal expropriation of minority shareholders' property,especially serious consequences.Therefore,analysis of interest and behavior characteristics of large shareholders and executives,perfect the corresponding defects existing in corporate governance,the key is collusion prevention and suppression of the tunneling behavior of major shareholders and executives.This paper selects typical cases in recent years in collusion tunneling,Tai Yuen shares as the research subject,expounds the major shareholders and executives collusion,hollowed out facts,analysis of the adverse effects caused by the incident,focusing on the major shareholders and executives of collusion formation conditions and under the collusion tunneling mode.Through the case analysis can be found,executives play a very important role in cutting the air,large shareholders and executives of collusion will inevitably lead to tunneling,an argument which is the emphasis.In order to dig deep large shares of large shareholders and executives of collusion,tunneling evidence,relationship between clear defects of corporate governance and collusion,tunneling behavior,this paper has adopted the comparative analysis method.Through the screening of the same industry in the non enterprise collusion,the final selection of enterprise scale and similar background Juhuagufen as comparison object,on the one hand,different governance characteristics comparison of the two companies,confirmed that the Tai Yuen shares due to the serious problem of corporate governance,it gradually leads the tunneling behavior of large shareholders and a collusion of executives.On the other hand,through statistical analysis and calculation of the key financial indicators of the two companies,the data analysis is used to show the differences between collusion and non collusion.The results show that the characteristics of corporate governance of non enterprise collusion is relatively more reasonable,which highlights the defects of corporate governance belongs to the universal problems,and conspiracy corporate governance mechanism has great defects,and the defects of corporate governance and collusion,the tunneling behavior of the causal relationship is obvious,namely the defects of corporate governance is the main cause collusion,tunneling behavior,which is another important point in this paper.Based on this, the article puts forward suggestions to solve the problems of corporate governance of listed companies,the author thinks that the enterprise managers should strengthen the concept of corporate governance and governance capacity,from the source to eliminate the formation conditions,collusion and external supervision and internal governance combined with good external environment can help improve corporate governance mechanism,to achieve the purpose of defense collusion tunneling.