Analysis And Prevention Of "Tunneling" Behavior Of Major Shareholders Of Huazegunie

In today's capital market,in order to obtain more and better financing channels to support the realization of enterprise value,more and more enterprises choose to go public.However,more and more large shareholders "tunneling" the listed companies into”ST shares",which greatly erodes the interests of small and medium-sized investors,and even leads to a crisis of trust in the capital market.Although all major shareholders' tunneling is universal,each case has its own particularity.Therefore,the concrete case is analyzed in the way of case study,which has certain practical significance.This article takes Huazegunie "tunneling" case as the object of study,including five basic parts:first,it is the introduction part,expounds the research background,the significance,and aims at the big shareholder "cut out" the way,the influence factor,"tunneling" to the listed companies and other aspects of the impact and prevention of literature review,the second part of the theoretical overview,the "tunneling" behavior of the major shareholders conceptual definition,This paper describes the usual means of"tunneling" of major shareholders in concept,and clarifies the theoretical basis closely related to it.The third part gives a comprehensive introduction to the "tunneling" behavior of Huazegunie.On the basis of this case,the author summarizes and analyzes the illegal occupation of funds by the major shareholders of Huazegunie,providing guarantee for related parties,and using insider information to manipulate stock prices.The fourth part is based on the third part.Through analyzing the influence of "tunneling" case from two aspects of listed companies and minority shareholders,it is found that the "tunneling" case of Huazegunie has a serious negative impact on both the enterprise itself and the minority shareholders.The causes of "tunneling" of large shareholders are analyzed in detail.The fifth part is based on the above analysis,and puts forward some suggestions to prevent the"tunneling" of large shareholders of Huazegunie.This paper comprehensively and systematically analyzes the "tunneling" case of large shareholders of Huazegunie through theoretical and practical analysis methods.Through financial analysis,comparative analysis and so on,the influence of "tunneling" on the company itself is analyzed.And fully reveal the impact on minority shareholders,and further explore the causes of its formation.Finally,the paper puts forward the corresponding suggestions for the defects and deficiencies in the governance of Huazegunie under"tunneling",which is helpful to prevent the "tunneling" problem of the major shareholders of Huazegunie.