RESEARCH ON THE RISKS AND MEASURES OF FINANCING PLEDGE

Abstract

Equity pledge financing is a kind of financing guarantee in recent years. With the continuous development of market economy and the prosperity of capital market, equity pledge financing has become a kind of financing method widely used by listed companies because of the advantages of flexibility and convenience. This paper takes the equity pledge financing of the stock as the case study object, the research discovers that the company's first major shareholder group in 2016 has accumulated 99.03% of its shareholding in the equity pledge, the large proportion of the equity pledge financing intensifies the financing risk. Because the company in the 2016 large-scale acquisitions in the industrial transformation of the education industry turned to profit is not high, the company also has a high proportion of stocks pledged, resulting in the company's stock prices fell sharply, take equity pledge shareholders almost lost control. Therefore, the author hopes that the risk to shareholders and the company through the financing of the large proportion of shares in the stock-holders and in order to deal with the various risks of the measures taken, hoping to cause large shareholders to the equity pledge financing behavior of the risk of high attention, strengthen shareholders and the company's risk prevention awareness, The significance of this paper is to maintain the controlling position of the large shareholder and protect the company's benefit from the loss.