Study For The Relationship Between The Stakeholders Management Mode And Creditors Benefit Protection

The traditional Company Law deems that the stockholders are the owners of the company. The board, as a legal organization of the company, have the reliance obligations to the company. The stockholders' rights can be protected by the company. But the creditor's right is mostly a contract issue. The relationship between the creditor and the company is a contract issue. It belongs to the external relationship of the company. Meanwhile, because the management risks should be born by the stockholders, they mostly concern and have sense of responsibility to the company. So the creditor has not the right of taking part in, decision making and supervision. These rights should be owned by the stockholders. The company's internal administration organization has not have the creditor protection system and their rights are protected by the Contract Law. Affected by the traditional theory, the legislation in our country carried through 9 magnificent renovation in order to protect creditors especially the medium and small creditors. In 2008, China securities regulatory commission and two stock exchanges came on series of specifications and behavior guides to shares in order to protect the benefits of medium and small creditors. But the renovation of protection to the creditors was not enough obviously. Currently financing creditor's rights are mainly loan from the bank. Under the current law system, there is not enough monitoring to the debtors from the bank. This is a hidden risk to the bank system or even to the stabilization of the money market. In future there will be more and more bond financing in creditor's right financing of the company. To enhance the control system of the bondholder, renovate the company management system will be the certain choice. Modern company management theory thinks that the company is the overall contract relationships in nature, is a contract net consists of stockholders, creditors, operators, producers, customers and other benefit parts. The stakeholders are equal and independent among each other. When making decision they should reflect the desires of benefit parts. So the protection of the creditors' benefits belongs to the scope of company management. To adopt a stakeholders management mode will more effectively protect the benefits of the creditors.Besides the introduction and conclusion, the essay includes four parts as following,Part 1 introduces the relationship between the stakeholders management mode and creditors benefit protection. From the meaning of stakeholders management and the introject with the society history. Pointing out that it is consideration and renovation in the new history condition of the traditional company management. The stakeholders management mode affirms the right that the creditor, as one of the stakeholders should have. It provides theory gist and possible way for creditor to join in the company management.Part 2 confirms reach the goal by different routes that the theory base for stakeholders management mode makes for inner cooperation and long term development of the company from 5 aspects. It demonstrates the suit and rationality of the creditors join in the company management.Part 3 sets forth the fact foundation of setting the stakeholders management mode to enhance the benefits protection of the creditors from 3 aspects based on the existing problems in creditors protection of the current law system, the inevitability of enhancing the creditors protection and the practice of all over the world.Part 4 sets forth the detail system of creditors of stakeholders management joining the company management. To the loan financing creditors, it is strongest to get into the directorate and Supervision Committee; to the bond investor we can make choice according to the loan market development scale and stability or the situation of the company in our country. To the regularly happened relating business damaging the creditors' benefits when applying Doctrine of Disregard of Corporate Personality, we need to apply forcing 4 regulations which are derivative action for the creditors; consummating the company reforming system in the bankruptcy so as to protect the benefits of the creditors and creditors' rights. It sets forth the advice of all orientation enhancing protection from coming into being, development, changing to termination.