摘要
上市公司大股东股权质押行为在我国资本市场上非常普遍,虽然名义上属于股东的个人行为,但在某些特殊情形下会造成一些重大影响,如上市公司股权结构改变、控股权易主,从而损害广大投资者的利益。当股市处于下行周期或震荡剧烈时,因股权质押引发的爆仓案时有发生,由股权质押引起的个体风险以及对整个资本市场引发的冲击已越来越受到关注。本文主要分析我国资本市场中上市公司股权质押的现状及可能引发的风险,并由此提出相应的建议。
Pledging of stock rights by controlling shareholders is very common in Chinese capital market,which is a personal behavior but has impacts on listed companies under some particular scenarios.It might vitally affect companies in lots of aspects such as changing its ownership structure or controlling shareholders.When the stock market is in a downward cycle or violent convulsions,the case of stock rights pledge explosion happens from time to time,and the risk of equity pledge has increasingly become the focus in the capital market.This paper analyzes the present conditions,causes and potential risks of pledging of stock rights in current capital market,and tries to put forward some useful suggestions.
作者
沈丽英
储成兵
SHEN Liying;CHU Chengbing(School of Accountancy, Anhui University of Finance and Economics,Bengbu 233000, China)
出处
《长春大学学报》
2020年第11期23-26,共4页
Journal of Changchun University
基金
安徽省哲学社会科学规划项目(AHSKY2018D10)。
关键词
股权质押
控制权转移
掏空行为
信息披露
pledge of stock rights
controlling right transfer
tunneling
information disclosure
