Case Study Of Improper Reduction Of Hualing Xingma Strong Stockholders

The domestic stock market has entered the era of full circulation,but the relevant laws and regulations are not very sound,in addition to the industry supervision is not fully in place,which makes the listed company's major shareholders,while knowing the inside information,use themselves to hold a large number of shares,illegal trading,has a strong impact on the entire stock market and bad impact.These strong stockholders illegal reduction not only has a very negative impact on the value of their enterprises,but also has caused a lot of small and medium shareholders heavy losses,seriously hindered the good and orderly development of the stock market.Based on the case analysis and the traditional normative research,this paper makes an in-depth study of the case of improper divestment by the strong stockholders of Hualing Xingma,and then analyzes the problems behind this particular divestiture event,and finally comes up with his own thoughts and suggestions.The thesis is divided into five parts: the first part is the introduction.mainly expatiates the background,significance and purpose of the research,the relevant domestic and foreign literature review,and combs the research ideas and methods;The second part provides clear guidance and strong support for the research of this case;The third part is the case introduction and the analysis of the improper reduction behavior of the strong stockholder.Among the misdeeds in the reduction of the stock holdings of the strong stockholder is: the strong stockholder takes advantage of his position,takes the precise opportunity to reduce the stock holdings to carry on insider trading,in order to obtain the excess earnings;The fourth part is the analysis of the consequences and the causes of the improper divestment of the stockholders.The improper reduction of the stock holding seriously encroaches on the interests of small and medium shareholders and is not conducive to the promotion of the value of the company.The causes of this negative impact are the large shareholder reduction and the protection of the rights and interests of small and medium-sized shareholders related to the existence of loopholes;In the process of supervision,the Securities Regulatory Commission has low efficiency,slow action and inaction.Lack of effective supervision of corporate governance mechanisms;Small and medium investors investment concept immature;The fifth part is the conclusion and enlightenment.In view of the problems found in the above analysis,this paper gives some lessons from the experience of perfecting the relevant laws and regulations of large shareholders,increasing the legal system of corresponding investors protection,raising the standard of punishment of the securities Regulatory Commission,efficiently exploiting the advantages of senior shareholders' holding in corporate governance,standardizing and restricting the performance of large shareholders,and raising the awareness of small and medium shareholders to avoid investment risk.Finally,through this study,we know that the major stockholder has a lot of improper behavior,which has brought serious negative impact on the enterprise.Therefore,this paper from the formation of these misconduct reasons,in essence to solve its problems,so as to make the securities market more stable and effective organic operation.