摘要
在我国经济结构优化调整的宏观环境下,民营企业通过传统的融资方式进行融资的难度越来越大,已逐渐不能满足大部分民营企业的融资需求。随着我国股权质押市场的逐步开放和股权质押相关法律法规的不断完善,股权质押的操作过程简单、融资所需时间短效率快且股权质押不会使大股东丧失控制权等优点已成为越来越多民营企业的首选融资方式。据统计,截止到2022年,A股上市公司大股东股权质押比例已高达75%。股权质押本身就是存在风险的,而近几年很多公司的大股东股权质押的比例几乎达到100%,如此高比例的股权质押势必会给企业和投资者带来一定的风险。因此本文以化学制药行业高比例股权质押企业中有代表性的HY公司为例,分析其股权质押的风险并提出一些风险防范措施。
Under the macro-environment of economic structure optimization and adjustment,private enterprises have more and more difficulty in financing through the traditional financing way,and gradually can not meet the financing demand of most private enterprises.With the gradual opening of China's equity pledge market and the continuous improvement of relevant laws and regulations on equity pledge,equity pledge has become the preferred financing method for more and more private enterprises due to its advantages such as simple operation process,short financing time and fast efficiency,and equity pledge will not cause major shareholders to lose control.According to statistics,as of 2022,the proportion of equity pledge of major shareholders of A-share listed companies has reached 75%.Equity pledge itself is risky,and in recent years,the proportion of major shareholders'equity pledge in many companies has reached almost 100%.Such a high proportion of equity pledge is bound to bring certain risks to enterprises and investors.Therefore,this paper takes HY company,a representative company in the high proportion of equity pledge enterprises in the chemical and pharmaceutical industry,as an example to analyze the risk of its equity pledge and put forward some risk prevention measures.
作者
冯艳艳
王洋
FENG Yanyan;WANG Yang
出处
《吉林金融研究》
2023年第8期29-32,共4页
Journal of Jilin Financial Research
关键词
大股东
股权质押
股权质押风险
major shareholder
equity pledge
equity pledge risk
