学号：5191924107题目类型：论文(设计、论文、报告)桂林理工大学GUILIN UNIVERSITY OF TECHNOLOGY本科毕业设计（论文）题目：荣盛发展控股股东股权质押动因及财务效应分析学院：南宁分校专业（方向）：财务管理班财管19-本1班学董紫润指导教师：李湾湾2023年5月16日桂林理工大学本科毕业设计·论文摘要近年来，控股股东发生的股权质押行为日益引起社会各界的普遍重视。首先，由于股权质押融资的成本低，而且可以转移经营风险等多种优点获得了股东们的普遍认可，通过股权质押可以成功化解上市公司的投资难题。其次，在减轻了股东们融资压力的同时，却也产生了各类风险，道德风险，两权分离的风险，侵犯中小股东权益的风险等等，对于大公司的股权质押该怎样加以疏导与规范，怎样既能为挂牌股份公司良好运营提供高效运转的融资链条，又能保持了金融市场的稳定性，通过股权质押导致了控股股东侵犯上市公司权益、降低了对上市公司的创新投入等内部问题，通过控制小股东的权利也导致了道德风险问题。本文对荣盛发展控股股东股权现状数据分析，并运用托宾Q值进行分析股权质押动因及财务效应分析。关键词：控股股东：股权质押：财务效应桂林理工大学本科毕业设计·论文Analysis on the Motivation and Financial Effect of the Equity Pledgeof Rongsheng Development's Controlling ShareholdersStudent:Dong Zi-run Teacher:Li Wan-wanAbstract:In recent years,the pledge of stock rights initiated by the controllingshareholders has attracted more and more attention.First of all,because of the lowfinancing cost of equity pledge,can transfer risks and other advantages by shareholdersfavor,equity pledge can successfully solve the investment problems of listed companies.Secondly,while reducing the pressure on shareholders to raise funds,it also creates variousrisks,such as moral risks,the risk of separation of two rights,the risk of infringing on therights and interests of small and medium-sized shareholders,and so on,how to guide andregulate the equity pledge of large companies,how to provide efficient financing chain forthe listed joint-stock companies,and how to keep the stability of the financial market,through the pledge of stock rights,the controlling shareholders violate the rights andinterests of listed companies,reduce the investment in innovation and other internalproblems.This paper analyzes the data of Rongsheng Development's controllingshareholder's equity status,and uses Towbin Q to analyze the motivation and financialeffects of equity pledge.Key words:controlling shareholder;Equity Pledge:financial effect