Research On The Supervision And Restriction Of BD Company To The Major Shareholders

With the rapid development of the economy in recent decades,the principal-agent relationship of modern companies has undergone new changes.The new principal-agent relationship has changed from the conflict of interest between the previous company shareholders and managers to the company's large shareholders and small shareholders Conflicts of interest.Since the legal environment of Chinese enterprises is still in the process of gradual improvement,in private listed companies,the problem of large shareholders infringing on the interests of small and medium shareholders is widespread and presents an increasingly serious trend.Under the control of large shareholders of private enterprises,the large shareholders of enterprises lacking effective supervision and restraint mechanisms wantonly embezzled the assets of listed companies,causing serious losses to small and medium shareholders,severely hit the confidence and enthusiasm of many equity investors,and also hindered The healthy development of China's capital and financial markets.Therefore,it is very important to study the supervision and restraint mechanism of listed companies in China on the major shareholders.This paper takes the case of the BD company listed on the New Third Board as a case study of the major shareholders ' supervision and restraint mechanism,and analyzes in depth the reasons for the serious consequences of the BD company 's supervision and restraint mechanism for the major shareholders,as well as the adverse effects on the BD company.From the perspective of how to improve the supervision and restraint mechanism of BD's major shareholders.The large shareholder of BD Company is used for the company and its personal financing through a large proportion of equity pledge.Eventually,the large shareholder and the actual controller of the company are changed because the borrowing funds cannot be repaid on schedule.Soon afterwards,BD Company broke out the former chairman and general manager Zhang Mouwei illegally used the name of a listed company to guarantee his personal private loans,and illegally occupied the company's funds,etc.,and the company was caught in many private loan lawsuits.It was listed as a dishonest executor by the court,which seriously affected the company's normal operation and development,and finally caused the BD company to be delisted from the new third board stock transfer system.BD Company has multiple reasons for the supervision and restraint mechanism of large shareholders.On the one hand,large shareholders have a single share,and small and medium shareholders cannot form checks and balances on them.On the one hand,the company's internal governance system fails,and problems cannot be discovered and resolved in a timely manner;In addition,the external supervision of listed companies by the NEEQ stock transfer system also has many problems such as insufficient regulatory measures.China's financial capital market is still in rapid development,and many related policies and regulations are in the process of gradual improvement.This article uses BD's major shareholder supervision and restraint mechanism as a negative case to conduct research and exploration in order to provide BD companies of the same type.A set of suggestions on how to improve the supervision and restraint mechanism for large shareholders,and also provide a typical sample reference sample for many equity investors to help equity investors avoid similar investment risks in the financial market investment process.It is conducive to promoting the healthy development of China's capital and financial markets.