Research On The Legal System Of Constructing The Supervision System Of Our Listed Company

Due to the over centralization of shares, the ineffective administrative structure inside the listed company, inadequate supervision rules and regulations, acts of violation emerge increasingly in our listed companies, which have done damage to the benefits of investors and orders of market economy. Considering these conditions, there is great urgency of forming listed company supervision system. In view of the deficiency in China's listed company supervision system, this thesis gives a legal and economic analysis to the supervision problems in listed companies, and sets up the basic goal of building a supervision system, in which emphasis is laid on the improvement of the related legislations.Integrating theory with practice, based on economic analysis, value analysis, comparison analysis and systems analysis, this thesis is expounded from the two levels of macro-planning and micro-legislation. There are five chapters besides preface and concluding remarks.Chapter One: Analysis of the basic problems in listed company supervision. It explains the emergence of supervision, the development of the authority of supervision and advances the proposition of setting up a new standpoint in supervising listed companies. Then it leads further to the question of how to define the subject of listed company supervision.Chapter Two: Comparison of listed company supervision in different countries. It compares the supervision systems and their latest reforms in countries where there exist the two most representative legal systems in the world and makes clear their developing trend and characteristics.Chapter Three: The analysis of the deficiency of present supervision in China's listed companies. In the case of internal supervision, there exist such problems as the weakening of stockholders' supervision, the loss of the function of board of supervisors and the ordinary of an independent directors' system. Meanwhile, in the case of external supervision, the problems are improper administrative supervision, vacant supervision in stock exchange, impeded judicial supervision and weak supervision from other subjects.Chapter Four: Theoretical foundation of setting up the supervision system for China's listed companies. Based on the necessity of setting up a supervision system for listed companies, this chapter elaborates how to position the value of this supervision system and puts forward the essential objective of establishing the multi-layered participating supervision system and the principles to follow.Chapter Five: The improvement of legal system for China's listed company supervision complex. Through detailed elaboration, this chapter proposes aninternal core supervision system for China's listed companies, that is, independent institution of board of directors. It also gives some legislative suggestions on stockholders' supervision, independent supervision of board of directors, executive supervision, stock exchange's supervision, audit supervision, litigation supervision, media supervision and interests-related individuals' supervision.In the author's point of view, the originality of this thesis lies in the following: 1. Use the basic theory in law and economy to set up a new standpoint in supervising listed companies and to prove the justice, legitimacy, necessity and. 2. Integrate macro-study with micro-study, grasp China's listed company complex in an all-round way while highlighting the specific law system. 3. Emphasize the localization and feasibility of the system on the base of the present law and present situation of stock exchange. The author hopes that the research can provide a new angle of view and a meaningful reference for legislative body and the government's supervisory body to enhance listed company supervision system.