Study On Information Disclosure Of Acquisition For Listed Companies

Information disclosure of acquisition for listed companies is the core of acquisition. The full and timely disclosure can protect the legal rights of small shareholders and be favorable for supervision department to supervise the acquisition and verification, thus achieving a fair and legal result At present, China has established a fairly complete information disclosure of acquisition and related acquisition system. Particularly in 2006, China Securities Regulatory Commission has newly revised "Acquisition of Listed Companies Management" in order to accommodate full-tradable share reform and stock market needs.In this paper, the writer uses ways of economics, comparative analysis and the related case to analyze China's information disclosure system and its theoretical basis. At the same time, the contents of the article is in close conjunction with "Acquisition of Listed Companies Management" , with a view to improve information disclosure and to benefit securities market for future development The article is divided into two parts: the foreword and the main textThe foreword introduces the summary of information disclosure, its research significance, and writing features.The first chapter is a brief overview over information disclosure of acquisition for listed companies, including its concept, features, values and principles. Chapter one is to pave the way for the contents behind the article.The second chapter describes the theories of information disclosure, including economic theory foundation and legal theory foundation.The third chapter is the main part of the paper. At first, the writer introduces the foreign and domestic legislation of information disclosure system, including the United Kingdom, the United States, Germany, the EU, and China. Next the writer introduces the specific information disclosure system, which includes: larger shareholding reporting system, information disclosure system in tender offer, the information disclosure system in agreement acquisition. By comparison analysis of the disclosure of specific information, the writer gives a detailed explanation for information disclosure system of acquisition for listed companies.The forth chapter is the conclusion of my analysis above. It contents the status and the problems of our country's legislation. In the end, and writer sets up some ideas of perfecting the related legislative proposals.