The Research On The Legal Issues Of Proxy Solicitation

In the modern time, how to protect the minority shareholder' equity has been an important problem of the theories of modern company and the legalization in many countries. The cases in the market indicated that the proxy solicitation system has been a significant tool, which can protect the shareholder's right and played an extremely vital role in the practice of the corporate governance in many countries with the trend of diversification of the stock structure in the modern company. Therefore, lots of countries set up this system to meet the needs of the practice subsequently. Since the 1990s, many spontaneous practices of this system have come forth in our country, but our country has not established the perfect law on it. In o word, establishing and improving the proxy solicitation system by the law is an urgent work in our country.With the help of the academic materials, the author make a fully analysis on the proxy solicitation and did lots of studies profoundly by the methodologies of historical analysis, comparative analysis and empirical analysis.Firstly, the author defines the concept of the proxy solicitation, analyzes the differences between this system and other similar systems and then recommends the advantages and the disadvantages. Secondly, the author investigated the legalization and practice of American,German,Japan and Taiwan province from different angles, then summarize the differences between theses countries which helps the author find the most fundamental factor of the differences is the stock structure. Thirdly, the author analyzes the present legalization and practices and finds the issues in our country. At last, by the analysis of the fundamental factors of the proxy solicitation, the author offers the proposals of the proxy solicitation system from five aspects with the study method of diversion, including the qualification of the solicitor, the voting buying is legal or not, the standards of information disclosure and authorized scope, the burden of soliciting costs and the liability and protection system and so on.The innovation point of this paper is as following: on the one hand, the author investigated the legalizations and the practices outside of China and concluded that the difference on the stock structure of the companies in these countries is the key factor for the differences among these countries; on the other hand, the author adopted the way of thinking on different types.