A Study On The Effect Of The Relief Fund On Private Listed Enterprises Under The Risk Of Equity Pledge

Private enterprises are the main support for China’s development.In order to promote high-quality development of the Chinese economy,the government should take strong measures to strengthen support for private enterprises to make up for their development shortcomings.In the second half of 2018,the equity pledge turmoil of A-share listed companies caused concern in the securities trading market and received high attention from the government.Against this background,a Chinese characteristic rescue fund with both policy and market characteristics has emerged,aiming to help private enterprises overcome financing difficulties and control the risk of equity pledge exposure.In addition to alleviating the urgent issues of corporate equity pledge and liquidity risk,can the rescue fund provide more in-depth support to help enterprises fundamentally improve business governance and enhance corporate value? What is the realization mechanism of this support? This article takes Shanghai Guosheng Haitong Equity Investment Fund Partnership(Limited Partnership)Partnership(Limited Partnership)as the research object to deeply explore its value effect and specific mechanism in bailing out Meinian Healthcare listed private enterprises.The study is based on health data from 2017 to 2021 in the United States,combining literature research and case analysis to conduct in-depth analysis of rescue events.Firstly,this article introduces the brief situation of both parties and the rescue operation process.Secondly,it comprehensively analyzes the implementation mechanism and effect of Shanghai Guosheng Haitong Equity Investment Fund Partnership on Meinian Healthcare from four parts.The first part is an analysis of the functional mechanism of the rescue fund in rescuing Meinian Healthcare.The second part is an analysis of the effectiveness,reasons,and advantages of the rescue fund in mitigating equity pledge risks.The third part is a comprehensive analysis of the rescue effect from the perspective of short-term stock price reactions in the capital market,long-term financial performance of the company,and changes in operational risks before and after the rescue.The fourth part is an analysis of its impact on corporate governance capabilities from the perspective of governance structure and resource allocation.Research has found that the way the fund is bailed out has a positive impact on the overall health of the US New Year.Shanghai Guosheng Haitong Equity Investment Fund Partnership has reduced the equity pledge risk of Meinian Healthcare,and has improved some operating performance.The most important thing is to enhance the corporate governance ability,enabling Meinian Healthcare to develop in a healthy and high-quality manner.The behavior of Shanghai Guosheng Haitong Equity Investment Fund Partnership in rescuing Meinian Healthcare not only brings into play the advantages of Shanghai Guosheng as a state-owned asset operation platform,providing strong support for the governance of Meinian Healthcare development,but also promotes the effective integration of state-owned capital and private capital.Finally,this article puts forward improvement suggestions from the perspectives of private enterprises and government entities: on the one hand,for private enterprises,the first is to improve risk prevention and control;The second is to strengthen the optimization and integration of resources.On the other hand,for government entities,the first is to optimize rescue regulatory rules;The second is to continuously follow up the progress of the rescue.This article provides a reference for deeply understanding the internal relationship between government and effective markets,and helping local governments scientifically promote rescue fund policies.It also provides a research model for bailing out private enterprises and supporting their growth in the new era.