Research On The Causes And Economic Consequences Of Related Guarantees Of Listed Companie

With the deepening of the reform of the banking system and the implementation of tight monetary policy,the threshold of bank credit examination increases,and China’s bond market is in the early stage of development,which makes the advantages of lower cost and higher efficiency of related guarantee appear.Since then,related guarantee began to develop,and the forms of guarantee became diversified,which also attracted people’s attention and research.For a long time,major shareholders have always infringed on the interests of other shareholders through various ways,especially the majority of small and medium shareholders who have no right to speak.At the same time,in the related guarantee behavior of listed companies in China,the interests of the majority of shareholders have also been transferred,and the related guarantee problem of listed companies has become a concern of the public.In this context,this paper takes Zhongnan culture as an example to study the motivation and economic consequences of affiliated guarantee of listed companies.This article selects after multiple correlation guarantee and have made a significant impact on the economic consequences of zhongnan red culture co.,LTD as the research object,using case analysis,entropy value method,EVA valuation method and Z-score model,in all the previous researchers,on the basis of research results,based on the reason of association of listed company guarantee and economic consequences for research.The research content of this paper mainly includes the following aspects: This paper combed the literature related to the associated security,as well as the associated guarantees such as defining the relevant concepts,and the asymmetric information theory,control theory,tunnel effect theory summarizes returns,in connection with the guarantee of the company quantity and total amount of guarantee and its associated guarantees two perspective,finishing summed up the overall development of the listed companies associated guarantees.Secondly,data from fiscal year 2016-2020 of Zhongnan Culture is selected to analyze the motivation of its associated guarantee.Finally,from the three aspects of anti-risk ability,profitability and income quality,ten indicators related to enterprise related guarantee,including liquidity ratio,net non-operating income and expenditure/total profit,are selected,and the weight and comprehensive score of each indicator are calculated by using entropy method to comprehensively evaluate enterprise performance.Using EVA valuation method to evaluate enterprise value,summarizes the related guarantee influence on corporate value,and summarize related guarantee the risk problem and analyze the reasons,and puts forward the corresponding solution measures to reduce the risk,also to guarantee involves affiliate industry provide certain reference and the whole of the listed company may refer to.Innovation in this paper,combining theory and case,focusing on the associated guarantees the motivation and economic consequences,break through the traditional four big capacity analysis method,using the entropy method to evaluate enterprise performance,the use of EVA valuation method to evaluate enterprise value,analyze the risks,and study the effect of associated guarantee for specific company and put forward corresponding Suggestions aiming at the problems of its,Makes the analysis more comprehensive and persuasive.