The Research On Company Law Regulation Of Listed Company's Guarantee

Although guarantee under market economy can reduce exchange risk, promote the development of capital market, the guarantee of listed company with special character cause much new content. There are many dissensions in listed company guarantee practice, and it can be said to bring challenge to traditional Corporate Law, Guaranty Law and other legal system.Legislations treat guarantee ability of listed company with different attitude in many countries. There are disputes on whether we should endow listed company with guarantee ability in our country. My opinion is we should endow listed company with guarantee ability. The most severity issue of listed company guarantee in our country is many listed company break the law, and not the guarantee conduct itself. The guarantee conduct of listed company in our country always happens in connected company or connected company latently. The experiences from overseas show that legitimate guarantee conduct of listed company should satisfy an important document of 'essence favorable' standard. In our country, control shareholder abuses the control status and forces listed company to supply the guarantee for control shareholder himself or connected company of listed company. In fact, listed company is regarded as 'Automatic Teller Machine'. Therefore it is necessary to introduce and satisfy legal system of securities law, corporate law and so on.The key point to perfect guarantee system of listed company in our country is to find the interest balance between each aspect of listed company. Therefore, we should set up appertain system quickly, and strong the guarantee information disclose. We should promote the use of anti-guarantee method and build up professional guarantee also.