| Under the influence of the wave of “mass entrepreneurship and innovation”,a large number of small and micro enterprises emerged as the times require.Small and micro enterprises have always played an active role in promoting China’s economic development and absorbing employment.However,through the research in this paper,it is found that there is a group in the small and micro enterprises that is referred to as a multi-shareholder small and micro company.Small and micro company in this group,although they are playing an active role in society,like other small and micro enterprises,have hidden problems that have been unnoticed but cause continuous damage to shareholders,namely low shareholder return problem.In fact,the low shareholder return not only harms the interests of shareholders,but also is very unfavorable to the long-term development of the company.Focusing on this issue,this paper deeply analyzes the reasons for its emergence and proposes the overall idea of how to solve the problem.However,the low shareholder return problem that is common among multi-shareholder small and micro company needs to be solved in a substantive way,which requires a long-term process and is a systematic project related to many aspects of society.So for how individual companies are aware of the existence of such problems in a timely manner and take targeted measures to solve them,this article provides a case for reference.In the process of discussion,this paper firstly sorts out the domestic and foreign shareholder returns and financial strategy related literature,and chooses the fully diluted equity return rate as the accounting index to evaluate the shareholder return,which is used as the theoretical basis of this paper.Subsequently,this paper clearly defines the multi-shareholder small and micro company and explains its characteristics.Then select the multi-shareholder small and micro company listed on the new OTC market as a research sample to evaluate shareholder return,so as to clarify objective existence of multi-shareholder small and micro company low shareholder return.On this basis,this paper analyzes the causes of the low shareholder return problem of multi-shareholder small and micro company,provides ideas to solve the problem fundamentally.In addition,this paper also combines the specific situation of China’s current multi-shareholder small and micro company,and puts forward the following recommendations that can be directly adopted,pay attention to the issue of interest distribution,take the shareholder return as the goal,and formulate corresponding profit target according to shareholder return target,use of financial leverage moderately so as to realize the full and efficient use of funds which increases shareholder return.At the end of this paper,the DW company in the field research is used to analyze the status quo of DW shareholder return and point out the existence of low shareholder return.Then,by analyzing the causes of the problems,the corresponding countermeasures to solve the problems are proposed. |
