A Study On The Contention For Control Of KONKA From The Perspective Of Cumulative Voting System

The basic characteristics of China's capital market are “one big share” and high concentration of equity.Different from the Western market,China is faced with more conflicts of interest between controlling shareholders and minority shareholders caused by equity concentration.In the face of controlling shareholders taking advantage of their control rights to encroach on the interests of the company and small and medium-sized shareholders through the board of directors,small and medium-sized shareholders have little to do.The cumulative voting production is a high-end "imported product",which bears the high hope of perfecting corporate governance and safeguarding the interests of small and medium-sized shareholders.However,there are few cases of successful application.Based on the analysis of control theory,major shareholder control theory and cumulative voting system,this paper combines the case of KONKA Group to study the control competition and the control of control rights from the perspective of cumulative voting system.The impact of financial performance.The case begins with the motive of the major shareholder infringing the interests of the minority shareholders,and gradually analyzes its conditions,process and economic consequences,then describes and analyzes the control rights and cumulative voting,and finally completes the case analysis through the economic consequences.The analysis process of this paper also combines the theory of control rights and the income index data of controlling shareholders' control rights.Based on the principle of cumulative voting system,supplemented by general financial analysis,management cash flow analysis,strategic analysis and other analytical methods,the case is analyzed in depth.From the case,we believe that in the context of the Internet era,the cumulative voting system is a new and important method for small and medium-sized shareholders to deal with the interests of large shareholders and control.It can form a balance of control over major shareholders.Avoiding monopoly is an effective way to protect the interests of small and medium shareholders.It is of great theoretical and practical significance to attach importance to and study the case of KONKAfrom the perspective of corporate control rights competition and impact,and the protection of minority shareholders' rights and interests.It is hoped that through this case analysis,some useful conclusions and suggestions will be summarized in terms of improvement of corporate governance,protection of minority shareholders' rights and interests,and implementation of cumulative voting system,which will serve as a reference for current corporate governance and laws and regulations.