The Impact Of Large Shareholder's Stock Pledge On The Enterprise Performance In The List Company

In recent years,with the stock right's high liquidity,easy assessment and easy to become cash,the stock pledge has become more and more popular among the shareholders of listed companies.According to the China Securities Depository and Clearing Corporation Limited'statistics,A share market has entered a state of comprehensive pledge,More than 95%of listed companies have equity pledge by shareholders.In the intensified stock pledge activities,the large shareholders of listed companies are most active.By 2016,1595 listed companies have been pledged by large shareholders.The reason why large shareholders are so interested in equity pledge is that the large shareholders can obtain the required funds after the pledge of shares,and can maintain the control of listed companies,which means they can kill two birds with one stone.Therefore,for the large shareholders of listed companies,when they have financing needs,often choose the way of stock pledge to obtain funds.With the stock pledge's prevailing,the news of the large shareholders of the listed companies using the stock pledge invade the assets of the company are emerging in an endless stream.People are paying more attention to the impact of large shareholders'stock pledge on companies and stakeholders.On the other hand,when the stock price continued to fall,large shareholders face added collateral pressure,they often choose suspend stock to alleviate the financial pressure,but if the market continued to decline,many large shareholders of listed companies will face the risk of being mandatory liquidation,may cause the stock market's suspension storm.In 2015,the limits of thousands tocks,and in April 2017,the flash collapse phenomenon,large shareholder stock pledge played an important role.The stock pledge of large shareholders brings convenience to their own financing as well as hidden dangers for listed companies,capital markets and other stakeholders.There is also a serious harm to the interests of small and medium shareholders.Therefore,this article analyzes the motivation and risk of stock pledge of large shareholders,explores their impact on the performance of enterprises,and puts forward relevant risk prevention measures and suggestions,which will have certain theoretical and practical significance.First of all,in the introductory part,this article introduces the background,significance and train of thought,sorts out and comments on the domestic and foreign research literature,puts forward the innovation points and shortcomings of this article.Secondly,after elaborating the related concepts and theoretical foundation,analyzes the status quo,motives,risks and the impact on the corporate performance of the pledge of large shareholder of the listed company in our country;then,in the fourth chapter,analysis the stock pledge of the Gu Di technology company's large shareholder,the analysis is unfolded from multiple dimensions to research its impact on the performance of the company and the value of the company;then,put forward the risk prevention measures in the fifth chapter;finally,put forward the feasible suggestion according to the actual situation of the stock pledge of the listed company in our country.