本文選題：控股股東　切入點(diǎn)：中小股東　出處：《石河子大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

【摘要】：我國正處于經(jīng)濟(jì)轉(zhuǎn)型升級(jí)的關(guān)鍵時(shí)期,證券市場(chǎng)經(jīng)過三十余年的發(fā)展已具備了一定的規(guī)模。但是,我國證券市場(chǎng)上控股股東對(duì)中小股東的掏空問題十分嚴(yán)重�？毓晒蓶|通過關(guān)聯(lián)交易、無償占用資金等各種手段掏空上市公司,以此來侵占中小股東利益,對(duì)上市公司和我國證券市場(chǎng)的健康發(fā)展都帶來了極大的危害。控股股東掏空上市公司的問題普遍存在,除了我國特殊的股權(quán)結(jié)構(gòu)、公司內(nèi)部治理機(jī)制不完善等因素外,還存在法律對(duì)中小股東的保護(hù)力度不夠、外部審計(jì)的監(jiān)督作用沒有充分發(fā)揮及控制權(quán)市場(chǎng)剛剛起步等外部治理因素。 本文系統(tǒng)地闡述了控股股東掏空上市公司的具體表現(xiàn)形式及其對(duì)上市公司乃至整個(gè)資本市場(chǎng)的危害,定性分析了公司外部治理機(jī)制對(duì)控股股東掏空行為的影響,隨后基于外部治理機(jī)制的視角提供了抑制控股股東掏空行為的可行性建議。 本文的研究表明,在公司內(nèi)部治理機(jī)制失效的情況下,公司外部治理機(jī)制對(duì)控股股東掏空行為的抑制作用不容忽視,特別是投資者法律保護(hù)、公司控制權(quán)市場(chǎng)、外部審計(jì)和產(chǎn)品市場(chǎng)競(jìng)爭(zhēng)等外部治理機(jī)制的有效實(shí)施,將對(duì)我國上市公司控股股東掏空行為的抑制起到關(guān)鍵作用,所以,我們要切實(shí)采取加大中小投資者保護(hù)力度、深化國有產(chǎn)權(quán)制度改革、提高外部審計(jì)質(zhì)量及促進(jìn)行業(yè)有效競(jìng)爭(zhēng)等措施。
[Abstract]:China is in the critical period of economic transformation and upgrading. After more than 30 years of development, the securities market has a certain scale. The problem of controlling shareholders' tunneling to minority shareholders is very serious in our country's securities market. The controlling shareholders empty the listed companies through related party transactions, free use of funds and other means, so as to encroach on the interests of small and medium-sized shareholders. It has brought great harm to the healthy development of listed companies and the securities market of our country. The problem of controlling shareholders hollowing out listed companies is common, except for the special ownership structure of our country and the imperfect internal governance mechanism of the company, and so on. There are also some external governance factors, such as inadequate protection of minority shareholders by law, inadequate supervision of external audit, and just beginning of control market. This paper systematically expounds the concrete manifestation of the controlling shareholder tunneling listed company and its harm to the listed company and even the whole capital market, and qualitatively analyzes the influence of the external governance mechanism of the company on the hollowing behavior of the controlling shareholder. Then, based on the external governance mechanism, the paper provides some feasible suggestions to restrain the hollowing behavior of controlling shareholders. The research in this paper shows that when the internal governance mechanism of the company fails, the restraining effect of the external governance mechanism on the hollowing behavior of the controlling shareholders can not be ignored, especially the legal protection of investors and the market of corporate control. The effective implementation of external governance mechanisms, such as external audit and product market competition, will play a key role in restraining the hollowing behavior of the controlling shareholders of listed companies in China. Therefore, we should take effective measures to strengthen the protection of small and medium-sized investors. We should deepen the reform of the state-owned property right system, improve the quality of external audit and promote effective competition in the industry.
【學(xué)位授予單位】：石河子大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F832.51;F271

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