Research On The Financial Risk Of The Stock Pledge Of The Controlling Shareholder Of The Listed Company

In recent years,as a popular means of financing for controlling shareholders of listed companies,share pledge has been frequently traded.However,due to the unsound relevant laws and regulations,the immature securities market and other reasons,there are greater risks.Many listed companies have the problem of stock liquidation due to the share pledge,but the controlling shareholders of listed companies are more worthy to explore the influence of the share pledge.If the share pledge has an impact on the business activities and business environment of the listed company,the cumulative impact is likely to bring financial risks to the company,thus affecting the stability of the entire security market.In the existing researches,there is not much attention paid to the effect of the pledge behavior of controlling shareholders on the operating activities and business environment of listed companies,and there is even less research on whether the share pledge brings financial risks to listed companies.Controlling shareholders usually have a great influence on the listed companies.After the share pledge,it is likely to change the corporate governance behavior and even lead to changes in the economic environment of listed companies,thus bringing financial risks to the companies.This influence deserves the attention of minority shareholders of listed companies,and even other participants in the securities market.Therefore,it is of great significance to study whether and how the pledge of controlling shareholders' equity brings financial risks to listed companies and how to prevent such risks.This paper takes Oceanwide Holdings Co.Ltd.As the object of case analyzes,after understanding the main situation of the company and the distribution of the stock rights,analyzes the changes in corporate governance behavior of the controlling shareholders after the pledge of their shares,as well as the impact on the operating environment of listed companies,and how to bring about changes in financial risks of listed companies.From investment risk,financing risk,liquidity risk and income distribution risk,this paper analyzes in detail the financial risk brought by the pledge of the controlling shareholder's equity to the listed company.After comprehensive analysis,the conclusion is drawn:the pledge of controlling shareholder's equity will bring financial risk to the listed company.At the end of the paper,some Suggestions are put forward to prevent the financial risks that the share pledge of the controllingshareholders may bring to the listed companies.