Design Of The Prevention Mechanism Of Shareholders' Rights Encroachment On Company L

With the development of modern society and economy,the infringement of controlling shareholder's interests has become the key monitoring object of the current regulatory authorities,which has caused a large degree of economic losses to enterprises and small and medium investors,and has also disrupted the operation of the capital market.Even so,there are still some controlling shareholders who,for their own self-interest,ignore the warnings of the regulatory authorities and embezzle the company's resources.This has created a problem that needs to be solved as soon as possible,how to effectively protect the legitimate rights and interests of small and medium investors and maintain the efficient operation of the market.In this paper,we mainly take the second type of agency problem and the hypothesis of cash dividend interest embezzlement as the theoretical basis,and add the case of the actual embezzlement incident of Company L to conduct the following research analysis:First,a series of elaborations on the motivation,adoption methods,financial consequences,prevention mechanisms,and protection of minority shareholders 'rights and interests in the event of the invasion of controlling shareholders' interests;Second,based on the analysis of changes in financial data caused by the invasion of L Company,Separation of powers,occupation of related funds and excessive investment are the main ways to bring financial crisis to the company,infringe the interests of small and medium shareholders,and damage the stable operation of the capital market.Third,further analysis of the incident of the company's embezzlement can be used The reasons for this are a combination of excessive equity concentration,undisclosed related party transactions,and cash flow shortages.Fourth,through the analysis of the company's profit appropriation behavior,a targeted identification-warning-combined precautionary mechanism can be established.During the operation process,the company can use the financial statement indicators to identify behaviors that have motivation for appropriation in advance.On the premise of three key indicators:the degree of separation of cash flow rights,the change in the proportion of receivables or prepayments to current assets,and the change in overinvestment,a financial risk early-warning model is established through the F value,and F is calculated based on the company L The comparison of the score value and the critical point of early warning makes a corresponding strategy for the combination of defense and prevention.At the same time,this article also puts forward suggestions on corporate governance,protection of small and medium shareholders,and supervision and management environment while carrying out a combination strategy,and establishes a protective net that is related to each other,and finds and suppresses key indicators of controlling shareholder's embezzlement behavior.,And then effective early warning and control of the company as a whole,safeguarding the rights and interests of small and medium investors,but also provide a certain reference for similar companies in the market.