Case Study On Controlling The Impact Of SHANSHUI On Corporate Financial Performance

The conversion of China's initial non-tradable shares into tradable shares occurred only after the China Securities Regulatory Commission promulgated?the Measures for Reform of Equity Division?and?the Administrative Measures for Acquisition of Listed Companies?in 2005,and these two related regulations also indicate that the management of china capital market mergers and acquisitions is more relaxed.These two reforms have advantages and disadvantages.First of all,the split share structure reform has improved China's capital market to a very large extent.However,due to the fact that China's national conditions are rather special and the time for the market for control rights to change from emergence to development is very short,so This makes the efficiency of China's control market lower than that of other countries.Later,with the completion of the reform of China's shareholding structure and the vigorous development of the capital market,the market for control of listed companies in China has gradually been formed and improved.And an important part of corporate governance is the market of control rights.The struggle for control of the company's management,shareholders,and external competitors is a manifestation of the role of the controlling market.Corporate financial performance and corporate governance are also closely related.As China's capital market has entered full circulation,the phenomenon of control rights in the secondary market has also appeared frequently.Competition for control rights has gradually attracted attention from all walks of life.At present,domestic research on the issue of control over listed companies is only an analysis of the impact of equity structure and social capital,and lack of control over the impact of the competition on the company's financial performance.Therefore,the purpose of this paper is to compete for corporate finance through the fight for control rights.The impact of performance is studied and it is hoped that relevant research will be supplemented.In view of the current domestic situation,this paper selected Shandong Shanshui Cement Control Rights Scramble Case as a research case and reviewed the process of incidents by collecting relevant news and announcement information extensively.The data was based on Shanshui Cement's 2012-2016 annual financial report.The method of case study analyzes and discusses the reasons for this fight for control rights and the impact on corporate financial performance,and gives corresponding countermeasures and recommendations based on the research results.