A Study on the Reduction of the Main Shareholding of the Growth Enterprise Market

DOI

10.2991/ictim-17.2017.69How to use a DOI?

Keywords

GEM, shareholder holdings, motivation

Abstract

The reduction of major shareholders of listed companies has always been the focus of the market, the important shareholders "clearance" reduction of the case is more common. As of today, the GEM in April 2016 to now, there are 479 listed companies, which have a significant reduction in the behavior of shareholders. After the split share structure reform, the original cannot be listed in the circulation of restricted shares gradually into the secondary market, and lead the formation of the full circulation of China's stock market. However, the concerns of shareholders are from the previous net assets of the company to changing the price of the stock, then raising the stock price, reduction of major shareholders become the foothold of a major shareholder after the lifting of the ban. In this paper, factor analysis and multiple regression analysis are used to find out the main factors influencing the motivations of the major shareholders of the GEM. It is hoped that the above research will provide reference for the policy making of the supervisory authority and the investment decision of the minority shareholders. In addition, through theoretical analysis, we can find the best time to reduce shareholder holdings, to balance the liquidity of the capital market.

Copyright

© 2017, 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  - Ling Qiao
PY  - 2017/09
DA  - 2017/09
TI  - A Study on the Reduction of the Main Shareholding of the Growth Enterprise Market
BT  - Proceedings of the International Conference on Transformations and Innovations in Management (ICTIM 2017)
PB  - Atlantis Press
SP  - 895
EP  - 904
SN  - 2352-5428
UR  - https://doi.org/10.2991/ictim-17.2017.69
DO  - 10.2991/ictim-17.2017.69
ID  - Qiao2017/09
ER  -