On The Perfection Of The Legal System Of Listed Company's Social Responsibility

Corporate Social Responsibility, as an hot issue, is concerned not simply by managers of companies all over the world, stockholder, all circles of the society, but also by scholars of the science of law on company and law-makers. From the external perspective of law, the researchers from many fields, such as management, economics, social psychology and Ethics share much attention to the study of Corporate Social Responsibility. From the internal perspective of law, as corporation law is the core of commercial law or even private law, the study of corporate social responsibility is not only the demands of interpreting the corporate principle, but a hot spot of the philosophy of private law. Besides, corporate social responsibility is a response of traditional corporation law theory to its application in the practice of the company. The theory of corporate social responsibility requires that, companies shouldn't just be regarded as a magical tool for making profit or money maximally for their stockholders to prevent from market risks or avoid the debts, but also should consider employment, environment protection and the systematic values of the management with corporate staff. Therefore, pursuit of profit shouldn't be the only purpose of the company, and the company should actively shoulder social responsibility, as well.The listed companies, in China, have begun assuming social responsibility, however, the situation is not well. There still exist many problems, for instance, the corporate financial scandals frequently exposed by medium, senior management's high salary of millions when the corporate in loss, manipulation of market, inside dealings and the lack of credibility, etc. What's more, some companies only pursues the interests of stockholders and managers, and ignores or even violates recklessly the interests of labors, consumers, creditors and society, especially, environmental interest. The above problems resulted from many reasons should be essentially due to the imperfection of the relevant legal systems.Corporate law, revised in 2005, has made general provisions in corporate social responsibility as declarative law principles, which are not easy to be operated because of the ambiguity of the targets whom the law would regulate and the content of the law. And the corporate law is also hard to be systematic as other law systems have few provisions on corporate social responsibility. In other words, the delay and shortcomings of legal system can't meet the needs of judicial practice. Therefore, only with the perfection of the law system of the listed company social responsibility, the interests of the related persons in the company can be protected effectively. The author hold that, the system should be redesigned in the following aspects:to perfect the system of staff's participation management of the corporation, to establish the system of bank's participation management of the corporation, to strengthen the government supervision, to improve the system of information exposure, to improve the quality of the report of listed companies'social responsibility, to build the standard system of social responsibility in accordance with our national condition and to perfect the other related laws and regulations, etc.