Research On The Expropriation Behavior Of The Major Shareholders Of Tian Xiang Environment Under Family Control

With the gradual improvement of China's capital market,the listing of companies has become the trend of the development of companies,in which the listing of family enterprises is a more common phenomenon.In the listed family business,in order to protect the interests of the family,the majority shareholders usually use the kinship and special principal-agent relationship between family members to obtain the control and management rights of the company,so as to achieve "family control".At present,in order to seek private interests,the large family shareholders who have the control of the company frequently encroach on the interests of the listed company through illegal acts,which makes the listed company and the small and medium shareholders suffer losses,which has become a major persistent disease of the healthy development of China's capital market.Therefore,how to solve the problem of usurping the interests of large family shareholders has become an urgent problem to be solved in improving China's capital market.In this context,this paper chooses Tianxiang environment listed company under the control of the family as the research object to study the behavior of usurping the interests of the major shareholders of the family.First of all,this paper reviews the relevant research results of domestic and foreign experts and scholars,defines the relevant concepts of major shareholders' interests encroachment under family control,and expounds the relevant theoretical basis and relevant policies and regulations.Secondly,on the premise of in-depth research on the background of major shareholders' interests encroachment in Tianxiang environment,this paper studies the behavior,causes and consequences of major shareholders' interests encroachment in Tianxiang environment.Finally,the corresponding countermeasures are put forward to prevent the usurpation of the interests of the major shareholders of the family.This paper holds that the main reasons for the major shareholders' interest encroachment in Tianxiang environment are the huge debts caused by the blind expansion of the company in the early stage,the excessive centralization of the company's decision-making system,the virtual existence of internal control systemand the loose external supervision.This behavior has caused serious consequences to Tianxiang environment,making the company's profits appear huge losses,operating capacity appear difficulties,debt repayment face unprecedented pressure,making many small and medium-sized shareholders of the company suffer loss of interest,and hitting the majority of investors' confidence in the securities market.As for the causes of Tianxiang environment being encroached by the interests of large family shareholders,this paper puts forward some suggestions,such as improving the equity balance mechanism,improving the internal supervision and governance system of the company,strengthening the supervision of relevant government departments,and improving the information disclosure system.This paper hopes that through the research on the behavior of the major shareholders of Tianxiang environment family,it can effectively prevent the behavior of the major shareholders of the family,and provide reference for other listed companies.