發(fā)布時間：2018-03-10 02:35

  本文選題：控股股東　切入點：股權(quán)　出處：《沈陽工業(yè)大學(xué)》2017年碩士論文　論文類型：學(xué)位論文

【摘要】：在全流通時代,控股股東減持浪潮勢不可擋。當今學(xué)術(shù)界,大多數(shù)學(xué)者研究控股股東減持帶來的消極影響。其實控股股東合理減持能夠優(yōu)化股權(quán)結(jié)構(gòu)提升公司價值。公司控股股東持有56.32%的股份,占有絕對控制權(quán)。因此本文以YD公司為研究對象,為控股股東研究出一個科學(xué)合理的減持方案。首先,論文分析了YD公司控股股東減持的可行性。接著從控制權(quán)結(jié)構(gòu)、公司估值水平、公司經(jīng)營環(huán)境三方面分析了YD公司的減持時機。其次,分析了以往成功減持案例中控股股東的減持時機、減持方式、減持比例以及利用的利好措施,為YD公司做出啟示作用。然后,分析了控股股東的減持跨度以及如何防違規(guī)。最后,本文在以往成功案例的基礎(chǔ)上為YD公司設(shè)計了大宗交易引入戰(zhàn)略投資者的減持方案,方案包括減持目的,原則,時機,比例,方式以及保障措施等,保障措施包括優(yōu)質(zhì)資產(chǎn)注入和延長持股鎖定期。之后分析了方案的合理性及預(yù)計效應(yīng)�？毓晒蓶|科學(xué)合理的減持有利于行業(yè)整合,推動產(chǎn)業(yè)轉(zhuǎn)型升級。有利于滿足自己的融資需求,拓展業(yè)務(wù)。有利于優(yōu)化股權(quán)結(jié)構(gòu)。希望此減持方案為YD公司控股股東提供借鑒,使其順利減持,從而提高企業(yè)價值,保護中小股東利益,規(guī)范控股股東的減持行為,也為其他公司控股股東減持起到借鑒作用。
[Abstract]:In the age of full circulation, the tide of controlling shareholder reduction is unstoppable. Most scholars have studied the negative impact of controlling shareholder reduction. In fact, reasonable reduction of controlling shareholders can optimize the ownership structure to enhance the value of the company. The controlling shareholders hold 56.32% shares. Therefore, this paper takes YD Company as the object of study, and studies a scientific and reasonable scheme of reduction for the controlling shareholder. First, the paper analyzes the feasibility of the reduction of the holding of the controlling shareholder of YD Company. Then, from the view of the structure of control, the paper analyzes the feasibility of reducing the holding of the controlling shareholder of YD Company. The paper analyzes the timing of YD's reduction from three aspects: the company's valuation level and the company's operating environment. Secondly, it analyzes the timing of the reduction of the holding of the controlling shareholder in the past successful cases, the mode of the reduction, the proportion of the reduction and the good measures taken to make use of it. Then, the paper analyzes the span of controlling shareholders' reduction and how to prevent violations. Finally, this paper designs a reduction scheme for YD company to introduce strategic investors into bulk trading on the basis of previous successful cases. The plan includes the purpose, principle, timing, proportion, method and safeguard measures of the reduction. The safeguard measures include the injection of high quality assets and the extension of the locking period of the shareholding. Then, the rationality and the expected effect of the scheme are analyzed. A scientific and reasonable reduction in the holding of the controlling shareholder is conducive to the integration of the industry. To promote the industrial transformation and upgrade, to meet their own financing needs, to expand their business, and to optimize the equity structure. We hope that this reduction plan will provide a reference for the controlling shareholders of YD Company, and enable it to reduce its holdings smoothly, thereby increasing the value of the enterprise. Protecting the interests of minority shareholders and standardizing the behavior of controlling shareholders also serve as a reference for other controlling shareholders to reduce their holdings.
【學(xué)位授予單位】：沈陽工業(yè)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F832.51

【參考文獻】

相關(guān)期刊論文 前9條

1 高燕;楊桐;杜為公;;全流通背景下控股股東減持的動機、風險與防范[J];財會通訊;2017年05期

2 高燕;楊桐;鄭甘甜;龍子午;杜為公;;全流通背景下大股東減持現(xiàn)狀及影響因素研究[J];宏觀經(jīng)濟研究;2016年08期

3 朱朝暉;張亞妮;;控股股東減持與盈余管理選擇時機分析[J];商業(yè)研究;2014年07期

4 張利紅;劉國常;;大股東掏空和減持關(guān)系實證研究——基于股票全流通時代的經(jīng)驗證據(jù)[J];財會通訊;2014年18期

5 徐昭;;上市公司內(nèi)部人減持行為的內(nèi)在機制綜述[J];經(jīng)濟理論與經(jīng)濟管理;2014年03期

6 桂銀玲;;我國創(chuàng)業(yè)板股東減持對大盤影響研究[J];時代金融;2013年35期

7 曹國華;林川;單單;;基于跨期侵占視角的控股股東跨期減持行為[J];系統(tǒng)工程理論與實踐;2013年06期

8 林川;曹國華;;地區(qū)市場化進程與大股東減持差異[J];上海金融;2013年04期

9 馬樹才;鄧康橋;;創(chuàng)業(yè)板上市公司高管與大股東減持套現(xiàn)行為研究[J];南都學(xué)壇;2013年01期

，

本文編號：1591415