Legal Dilemma Of Exercising The State-Owned Stockholder's Rights And System Improvement

Ever since the state-owned enterprises reformed, the system of state-owned shares has achieved remarkable results, and suffered embarrassing predicament. Because the state acts as a shareholder, it makes the state-owned shares have a large number of different characteristics comparing with the traditional shares, which makes the legal analysis of the difficult position of exercising the state-owned stockholder's rights have more practical and theoretical significance. Based on the foregoing reasons, the author intends to analyze the difficult position of exercising the state-owned stockholder's rights and trace the source of troubles and bring forward the ways to improve and perfect the system of state-owned shares.This paper is divided into the introduction, the body and the conclusion.The introduction gives a brief presentation on the significance of the topic and the domestic current research situation and clears the research scope.There are three parts in the body.The first part discusses the plight of exercising the state-owned stockholder's rights. Based on the deconstruction of shareholders'control rights on the company, this paper sums up the plights of exercising state-owned shares from generally to particularly according to< The Company Law of the People's Republic of China>(). This part discusses the voting right, the right to know and the right of action respectively and discusses the conflicts between the "Company Law" and "the enterprise state-owned assets law" on the exercising of state-owned shares. The problems of exercising of the state-owned shares have two significant features:first, excessive administrative regulation by and the administration department; second, the rights of shareholders cannot effectively control company's management; so that the management's speculative conducts are increasing.The second part discussed the reasons and sources of the plight of exercising the state-owned shares. As there are administrative intervention and serious internal control in the exercising process, this paper discusses the reasons from four aspects. The reasons are as follows:Exercise of state-owned stake in error; positioning of the government; the company earnings for the preference led to the neglect of human resource value;standard positioning of the embarrassing loss and company law.The third part put forward the ideas of reconstruction of the exercising system of state-owned shares. This part is divided into the innovation of ideas and practices. In the idea innovation, this paper put forward that the Public Property should be placed in an important position, which helps correct the exercising mode of supremacy of economic interests. In the practice innovation, this paper brings forward three points:first, it should form interacts between the administrative conducts and the legal system; second, it should give consideration on a variety of values in the process of equity investment; third, it should change the evaluation mechanism of the enterprise. This part corresponds the second part and solves the problems targetedly.The conclusion highlights the standpoint of this paper and sums up the argument structures.