How To Identify And Prevent Market Risks In Business Operations

Market risks in enterprise management are generally divided into management risk, financial risk, credit risk and moral hazard.

This article mainly talks about the market risk caused by other immoral factors, which is a risk easily ignored by most investors.

What behaviors of listed companies may bring market risks to investors?

First,

If a listed company involves acquisition, investors should be familiar with the relevant provisions of the "management measures for acquisition of listed companies", especially the provisions on "agreement purchase", because most of the current acquisitions are conducted by means of agreement purchase.

According to the regulations, it is necessary for the SFC to fulfill its purchase agreement unless it is exempted from its offer.

There are goodwill takeover and hostile takeover in the takeover of listed companies. When hostile takeover occurs, the management of listed companies may take counter takeover measures, but at the same time, it is limited by the eighth provision of the measures "no abuse of power to set up inappropriate barriers to purchase".

Therefore, in hostile takeover, the legal consequences of takeover are uncertain, and investors' investment risks are greater.

Two. Major asset restructuring

According to the regulations on the management of major assets reorganization of listed companies, the major asset reorganization of listed companies should follow tenth principles, such as meeting the listing conditions and enhancing the ability of continuous operation.

According to the fourteenth provision of the act, all parties concerned should be kept strictly confidential during consultations on reorganization matters. If the relevant information has been pmitted in the media or stock price movements before the resolution of the company's board of directors, the listed company must immediately announce the relevant situation of major asset restructuring.

In addition, many investors disclose the media reports according to the non statutory information, that is, the company is making asset restructuring and making investment decisions. When the company issued a Clarification Announcement, it has inevitably caused investment losses.

Three. Performance forecast for listed companies

according to

Four, high pfer of listed companies

The profit distribution of listed companies is also a hot spot in the market speculation.

There are often rumors of high delivery in the market. Whether the allocation scheme itself can vote as a bill to the shareholders' meeting of the company is unknown. At the same time, because different shareholders have objections to the profit distribution, it may lead to the failure of the program to pass smoothly at shareholders' meeting. Therefore, investors should identify and guard against investment risks.

In addition, major investments, new shares issuance, major shareholder holdings and equity incentives will lead to two market movements. Investors should pay attention to market risks.

How to avoid investment risk better?

Generally speaking, the risk is uncertainty, understanding more uncertainty, can better avoid investment risk.

First, the company's bills may be rejected by the shareholders' meeting, the board of directors and even the independent directors, including major uncertainties such as mergers and acquisitions of listed companies, and so on.

Two, there may be vague contents in the relevant reports, announcements or disclosure documents of listed companies. Usually, listed companies should also modify or adjust the relevant plans according to the actual situation.

As long as such disclosure does not constitute false, misleading or omission, investors lack legal basis for legal claims for losses caused by the use of such information pactions.

Three, the related administrative acts of listed companies involving the regulatory authorities may be rejected. The veto is the normal exercise of the executive power of the government, because the motion is rejected by the regulators and complaints are everywhere, and there is no legal basis to support the complaint.

Distinguish the relationship between company autonomy and judicial intervention

No matter whether a listed company carries out merger and reorganization or other important matters, the company must comply with the internal decision-making procedures stipulated in the articles of association and perform such statutory procedures as reports, announcements, etc.