Major Shareholders Holdings Under The Protection And Research Of Medium And Small Shareholders Interests

In recent years,many small and medium-sized companies adhere to the profit model of listing,financing and then reducing holdings to cash out,and exit the market after obtaining funds.The market these companies choose to enter is the gem market with high risks,high returns and low access standards.In the first batch of companies to be allowed to sell shares on the gem,a total of 31 companies reduced their holdings within three months,with a reduction amount of more than 6 billion yuan.The company’s largest shareholder cash,then reduce its consequences must be small and medium-sized investors,hit the confidence of the investors to participate in the market,to think in the long ran,the growth enterprise market will be unsustainable,make it can’t provide financing platform for high-tech industries,and gradually evolved into short-term profit in the market,the national market economy development may therefore decline.For small and medium-sized shareholders,large shareholders often do not care about the interests of small and medium-sized shareholders,after all,the source of the funds to reduce the holdings of small and medium-sized shareholders is the capital invested in the company,in this way,small and medium-sized shareholders not only can not make a profit but also do to clean up the mess,the loss outweighs the gain.In the long run,the interests of minority shareholders will inevitably be infringed.which will undoubtedly hurt the motivation of minority investors to participate,and the vitality of the gem market will also decline.Therefore,in the event of an underweight for protection is particularly important for small and medium-sized shareholders,then it is necessary to study the major shareholders holdings to protect minority shareholders interests what impact does this on the one hand,and how to influence,to fair between shareholders,capital,market diversification has important significance.This paper,by studying the long-term and continuous reduction process of Z company technology in recent years,explores the impact of the company’s reduction on the protection of minority shareholders’ interests,especially the verification of the damage to minority shareholders’ rights and interests,and puts forward countermeasures.First process,characteristics of underweight,methods are discussed,and then to return interest existing to explore the protection of minority shareholders,and through the path,the function of underweight is analyzed,the results of the use of event study on short-term stock returns and so on carries on the observation,analysis the company of financial performance,in turn,to the impact of stock price,and on the basis of the reduction of the growth enterprise market is caused by the small and medium-sized shareholders’ interests protection,puts forward improvement suggestions for appropriate behavior of major shareholders holdings,provides some references for the perfecting market holdings code.