The Control Of Shanshui Cement Group's Control Rights And Its Enlightenment To Corporate Governance

With the continuous development of China's economy.the enhancement of capital market liquidity and the completion of the shareholding system reform,the development of various enterprises is also very rapid,and the holding form of listed companies is also more diversified.Many enterprises use internal financing or capital increase and share expansion.In order to allow enterprises to obtain more economic support,in order to develop more quickly,after each company's financing expansion,the company's shareholding structure and its corresponding control rights are constantly changing.resulting in more and more scattered equity,the emergence of major shareholders The situation of checks and balances between each other,this situation on the one hand stimulates the economic vitality of China's control market,but on the other hand,it also sets off the dispute over the control of power.Among them,the specific reasons for the struggle for control the original source of the struggle.The specific process of competition and the impact on the company are the focus of many investors and the public.In recent years,many scholars have studied the cases of control of different interests within the company,such as Gome and Jiahua.However,there are few case studies on the control of enterprise control with both internal contradictions and external competition,so choose one.Such case studies of universal significance are necessary.The battle for control rights is not only not conducive to the stable and long-term development of the enterprise itself,but also not conducive to the stability of China's market economy.Therefore,improving the corporate governance structure and improving the control of the listed company's control rights.according to the existing control rigghts competition case.the enlightenment It is very important to reduce the recurrence of control disputes.Shanshui Cement,as a privately-listed enterprise that has been reformed from a state-owned enterprise.has four major shareholders,including Shanshui Investment and Tianrui Group,represented by Zhang Caikui ' s father and son.In the event of control disputes,there are internal contradictions and external competitions.It is a very representative enterprise in the battle for control.Based on the above background,this paper adopts literature analysis method.quantitative research method and case studv method,and selects Shanshui Cement as a case.Based on the reading of existing domestic and foreign literatures,it describes the competition of landscape cement control in four stages.The process of analyzing the control rights of Shanshui Cement is due to the difference between the separation of powers and principal-agent issues and the demands of shareholders.In addition,through the four perspectives of solvency,profitability,operational capability and business performance,the control rights compete for the company's performance.The impact of the stock price fluctuations on the impact of control competition on the corporate market response,the root cause of the control dispute is due to the serious problems of corporate governance,and the lack of equity checks and balances,the actual controller under the trust relationship The employees' shareholders have contradictions,and the management rights have long been attributed to the actual controllers and other corporate governance issues.Relevant suggestions are made.Finally.according to the case of Shanshui Cement control rights.this article gives some corresponding inspirations for other corporate governance.