A shares surprised a single-service resignation!Vase, except for oneself

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A shares surprised a single-service resignation!Vase, except for oneself

2021-11-25 00:37:38 18 ℃

Bean skin under the starry sky

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On November 17, 12 people, including 12 persons of the Chairman of the Kangmei Pharmaceutical, General Manager Ma Xingtian, including the Foshan Intermediate People's Court of Guangdong Province. Ma Xingtian was sentenced to 12 years in prison for punishment of crimes of securities market, not disclosed by crime of violations of the securities market, and was sentenced to 12 million yuan in prison, and was sentenced to RMB 1.2 million; The manager Xu Dong junior and other responsible personnel were sentenced to imprisonment in prison, respectively.

13 related responsible persons include 5 time-independent directors, which is often said in the capital market. Among them, Jiang Zhenping, Li Dingan, Zhang Hong 3rd, due to the 2016 year report in Kangmei Pharmaceutical, 2017 year report, I was sentenced to 10% of the joint liability, the corresponding amount of 246 million yuan; Guo Chonghui, Zhang Ping two Only signatures in the second half of 2018, was sentenced to 5% of the joint liability, with a corresponding amount of 123 billion yuan.

Ma Xingtian

So A shares shocked a group of independeed resignation.

According to the traditional agent cost theory, due to the expansion of the division of labor, the company's ownership and management of the rights, the goals and interest conflicts have increased the cost of agents, and the introduction of the independent directors system is conducive to reducing the cost of agents. Independent Director System is the development of enterprises to a certain level of reducing agents.

In my country, among the many private listed companies, there is a large situation before or after the listing of private shareholders, and the owners and operators of the enterprise are coincident, and there is no proxy cost. However, according to regulatory requirements, an independent directors must be introduced, so in order to meet the regulatory requirements, there is a large number of "vase" independent directors. Most of these independent directors have no rich business management experience, and the time in the enterprise management is also limited, the independence is insufficient, and there is overlap with the functions of the board of supervisors. The division of labor is not clear, and the company's supervision is far less than enough, lacks independent directors Justice and constraint systems and laws and regulations guarantees. Therefore, the implementation of independent directorships in China's listed companies in China is not in line with China's national conditions.

This must have a name and no real rights, but also not only a single-sell, there is a supervisor.

Similarly, the supervisor is also generated to reduce the cost of agents. The independent director system is introduced in the case of the invalidation of the supervisory system, and the supervisory role in the supervisory and management is weaker than the independent directors. The "supervision" of the auditor system can be seen is weak. For the current situation of China's shareholders, management rights and ownership do not have completely separated, the agency cost is not so high, the supervisor is even more like "high tube" in the company's role, not to supervise the board and management.

Finally, we copied that the job was copied into four unlike.

There is no combination of supervisors and independent directors and has not played a role. Some state-owned enterprises independent directors, supervisors, discipline inspection and inspection and internal audits are equivalent, and it is still a hand. Private enterprises are boss to say that internal supervision and external supervision shape are also done, but also to protect the interests of small and medium investors.

The A shares of the Kangmei Pharmaceutical, who have been killed by heavy prices, showing a single-duty resignation, only a temporary individual phenomenon, and will not move the current institutional basis. In A shares, more independent directors are willing to build their own circles and people through independent directors, and establish a necessary interactive connection with listed companies (similar to the EMBA class of universities), impact industry impact, academic Theory or topic promotion, recommend your own student employment, help listed company boss and executives to colleges and universities, to meet their "academic anthers" and so on.

Such a single duff, supervisory, what do you want?

The above does not constitute any investment suggestions. The stock market is risky and cautious in entering the market.