Exploration of Transfer of Control Rights of the Largest Shareholder

DOI

10.2991/iceemr-18.2018.107How to use a DOI?

Keywords

Full circulation, First largest shareholder, Transfer of control

Abstract

After the completion of the split share reform, which aims to coordinate the interests of the shareholders, improve the corporate governance mechanism and maintain the long-term development of the capital market, China's capital market has entered the full circulation era. However, under the background of full circulation, China's "listed companies' equity concentration anomalies" have not been fundamentally relieved, while the largest shareholders have lost their holding position in the capital market. Thus, a new round of "vision of transfer of the control right of the first largest shareholders" emerged. On the basis of combing and analyzing the existing research literature system at home and abroad, the empirical findings of the transfer of control rights of first largest shareholder in the A stock market of China from 2012 to 2016 are found: after full circulation, the transfer control rights of first largest shareholder is still serious; the first largest shareholder of listed companies involved in the transfer of control rights is the computer, communications and other electronic equipment manufacturing industry, followed by the electrical machinery and equipment manufacturing industry; corporate investors, other corporate investors, and public shares (circulating A shares) investors account for the majority of the shares transferred by the first largest shareholder of the listed company; Judging from the nature of the company, private enterprises are more vulnerable to the transfer of control of the first largest shareholder. This research conclusion provides a new perspective for governance of the “vision of transfer of control rights of first largest shareholder” in different industries.

Copyright

© 2018, the Authors. Published by Atlantis Press.

Open Access

This is an open access article distributed under the CC BY-NC license (http://creativecommons.org/licenses/by-nc/4.0/).

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TY  - CONF
AU  - Xiaojun Deng
AU  - Qing Yu
PY  - 2018/06
DA  - 2018/06
TI  - Exploration of Transfer of Control Rights of the Largest Shareholder
BT  - Proceedings of the 2018 2nd International Conference on Education, Economics and Management Research (ICEEMR 2018)
PB  - Atlantis Press
SP  - 459
EP  - 462
SN  - 2352-5398
UR  - https://doi.org/10.2991/iceemr-18.2018.107
DO  - 10.2991/iceemr-18.2018.107
ID  - Deng2018/06
ER  -