Proceedings of the 1st International Conference on Business, Economics, Management Science (BEMS 2019)

Analysis of the Problem of the Interest Transfer in the Process of Back-door Listing

Authors
Siya Wang
Corresponding Author
Siya Wang
Available Online May 2019.
DOI
https://doi.org/10.2991/bems-19.2019.10How to use a DOI?
Keywords
Back-door listing, interest transmission, ownership dilution.
Abstract
Back-door listing could quickly promote the market resources’ integrating. Meanwhile, it not only helps the shell resource companies avoid the risk of delisting, but also provides a rapid expansion channel for the back-door companies. The concentration of ownership of listed companies in China leads to the frequent interest transmission of the controlling shareholders after the back-door listing. Based on the Jumpcan Pharmaceutical back-door listing, this paper analyzes the “tunneling” behavior that the major shareholders encroach on the interests of small and medium shareholders by transferring the company property and profits, so as to achieve the interest transmission. Besides, this paper puts forward some suggestions to ameliorate the company’s equity structure, strictly supervise the asset appraisal institutions, and improve the pricing mechanism as well as control the dividends of back-door listing etc.
Open Access
This is an open access article distributed under the CC BY-NC license.

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Proceedings
1st International Conference on Business, Economics, Management Science (BEMS 2019)
Part of series
Advances in Economics, Business and Management Research
Publication Date
May 2019
ISBN
978-94-6252-720-1
ISSN
2352-5428
DOI
https://doi.org/10.2991/bems-19.2019.10How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - Siya Wang
PY  - 2019/05
DA  - 2019/05
TI  - Analysis of the Problem of the Interest Transfer in the Process of Back-door Listing
BT  - 1st International Conference on Business, Economics, Management Science (BEMS 2019)
PB  - Atlantis Press
SN  - 2352-5428
UR  - https://doi.org/10.2991/bems-19.2019.10
DO  - https://doi.org/10.2991/bems-19.2019.10
ID  - Wang2019/05
ER  -