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Exploration And Construction Of Shareholder 's Voting Agency System

Posted on:2017-04-04Degree:MasterType:Thesis
Country:ChinaCandidate:X Z HeFull Text:PDF
GTID:2206330503459105Subject:Civil and Commercial Law
Abstract/Summary:PDF Full Text Request
Ten years ago, real estate, which has been the investment object with the most profitable yields, has become the pursuit of the whole social capital demand; however, now the real estate industry has entered the so-called the "Bronze Age" while the equity investment is becoming the new settlement of the capitals, a new hot investment spot of this age.Meanwhile, the multi-level market structure in the capital market in China that meets the financing needs of different enterprises also facilitates the equity investment for the investors at different levels of the society. As it can be expected, within a period in the future the internal governance mechanism caused by equity in the company will be faced by new challenges – the conflict between the old equity and the more flexible application of the equity by the shareholders in the voting system and the new situation. Compared with the overall trading of the equity, the operation at the voting level is more flexible, especially the unique advantage in the fighting for corporate control rights- low cost, however, there are almost no regulations stipulated for the operation at the voting rights level in the existing laws of our country; although, in 2014, some modification were made in the Company Law in China and the Securities Law Amendment also passed the review of the NPC Standing Committee at the end of 2015, at the equity level, the institutional changes have obviously been lagged behind and while for the more segmented voting rights agency system, no amendment have been made yet. There are two reasons that have caused such legislation deviation; on one hand, there is a certain relationship with the less application of the existing proxy voting, but on the other hand, it also suggests that lawmakers have a striking lack of cognition on the arrival of the era of "equity".From the legislative stipulation for the relevant voting proxy mechanism(Voting system of collection) in the United States, Germany, Britain, Japan, Chinese Taiwan and other countries and regions, this article tries to comb the categories, explore the legislative considerations behind the different rules, so as to seek a voting proxy system applicable mode that is really suitable for Chinese mainland’s specific national conditions. In this article, there exist two characteristics, among which, one is the comprehensive combing of all sorts of problems that exist in the application process of the voting right agent and to put forward practical and feasible solutions; the second is to build the unique state-owned shares voting rights agency mechanism in our country based on the reality that the state-owned shares of the socialist market economy in our country have wide influence.
Keywords/Search Tags:Proxy Voting, Voting Collection, Paid Collection, Corporate Control, State-Owned Shares
PDF Full Text Request
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