Behind the diplomatic battle for control of the "insider" mystery: why not long-term dividends hot column capital flows thousands of thousands of stocks the latest Rating Rating diagnosis simulated trading client sina finance App: Live on-line blogger to tutor you say on the stocks contest points out from 60 million million, the battle for control see "internal puzzle", "internal control" is not a sin, the key lies in whether the actual control power. The battle for control of Vanke is a typical "palace bucket, a modern version of" Mi months pass". Huarun – Treasure – Vanke management of three parties can be called "barbarians", while the barbarians in the door of the two (Huarun and Wang Shi) is still not willing to admit that the barbarians outside (PO) has been the upper hand! When the board of directors meeting in the door, the board of directors did not seem to realize the door barbarians is the largest shareholder, the shareholding ratio is close to 25%. If Vanke’s shares fell again, "Chaozhou help if someone with independent fourth identity Holdings 10% Vanke shares, and nearly 25% of the total shares of treasure can reach about 35%, the board of directors of any resolution will be the treasure department and concerted action easily veto, the actual control right transfer. This article from the perspective of corporate governance system, talk about the "insider control" of the modern enterprise system". What is "insider control"? The core of modern corporate governance is property trust, the board of directors is the trustee, the so-called "professional manager" is only the agent of the board of directors, and the shareholders have no direct trust relationship. This system originated in Europe "dark ages", is the church in the name of God believers gathering assets, exercising fiduciary duty, to virtual property in practice, and the Church of God, to become the actual controller. Based on the lessons of history, the company legal person system has constructed the "separation of three powers" of the board of shareholders and the board of directors and the management, which restricts each other, but in theory it is possible to produce the control mode of the six. In addition to the "three powers" of the separation of the three powers, there are also the following: the major shareholders control the board of directors, the board of directors and the management of the alliance; the majority of shareholders and the management of the alliance of the three. The power of the internal control of the company comes from the institutional arrangement of corporate governance, and there is no uniform standard model. So treasure can represent to the first big shareholder accused Vanke management of "insider control", the core members and demanded the dismissal of management and the board of directors, this is just a shareholder opinion, and not the power of shareholders. The attitude of the capital market to "insider control" is also different. For example: Alibaba’s partner culture was rejected in the Hongkong Stock Exchange listing, while the Nasdaq market is pleased to accept, so the final choice of Alibaba listed in the United states. When the business partner Vanke held a meeting in 2014, president Yu Liang shouted "occupation managers dead, business partner age birth", at this moment, I believe that the heart Yu Liang model should be called Alibaba. Hongkong stock market followed the British system, more inclined to protect the interests of shareholders. In contrast, the U.S. stock market institutional arrangements more emphasis on the management of the right相关的主题文章: