Medium And Small Share Holders' Right And Interest Protected Questions Research Of Listed Company In Our Country

Generally speaking, there are four ways medium and small share holders being infringed: Big share holders draw out capital, profit, assets, even credit of listed company by controlling shares;Management team of listed company coined false information;Some agencies prettify and do over-propaganda for listed company pursuing large profit while neglect their due social service function;Institutional investors control share price with advantage in capital and information.Medium and small share holdres' right and interest should be protected in view of law. In legislation, there is big gap between regulations and laws in existence and investor's interest protection. Lots of laws were not issued in suitable time, and some are to abstract and general which can not be operational in practice. For example, on Securities Law in view of investors' protection, especially legal responsibility define, when investors' interest is infringed, more consideration is taken on in area of criminal obligation, administrative obligation instead of civil obligation. In addition, problems occur in judicatory. Lag and rule of demanding for accuser's proof make judicatory unreachable. Furthermore, executive force from supervising department is not powerful enough.Currently, security supervising department enforces investigation and penalty on violation actions and various misbehaviors of listed company were exposed. After Medium and Small Enterprises Board was set up, Jiangsu Qionghua (market information forum comment) event raised investors' worry on running of family controlled listed company. To solve these problems, some one raised request for strict sentence and sever law, others raised request to increase good faith of agency. There is no doubt that this systematical construction is necessary, but it cannot settle it ultimately. Only we recognize thoroughly the inner defect of our company running, can we find perfect solutions.Based theoretically and practically, this paper is to discuss the problem of protection right and interest of medium and small share holders in Chinese listed company, and make analysis on root, influence and countermeasures of big share holder' infringing.