Study Of Listed Companies In The Interests Of Minority Shareholders Protection Mechanisms

This dissertation is concerned with the protection of minority shareholders' rights and interests in listed companies in China. In China, the listed companies only have a history of about ten years though they have been developing very rapidly. However, due to various reasons, the institution normalization does not keep pace with the steps of economic development, and many problems have emerged, and particularly, the negligence and encroachment of the rights and interests of minority shareholders have occurred frequently. All of such problems seriously restrict the development of the stock market.It is recognized that the essence of international competition is competition of system. Pertinent researches indicate that stand or fall in protecting the rights and interests of minority shareholders in a country has the direct relation with the sound development of the stock company, stock market or even the whole economy of that country. Protection of the rights and interests of minority shareholders is the starting point to expediate virtuous circles. Lack of institution will give rise to hidden troubles of crisis. It is advisable that we should thoroughly study the problems of protecting the rights and interests of minority shareholders and introduce a sound system in accordance with the situation of our country. Establishing the protection mechanism of the rights and interests of minority shareholders in our country shall help the listed companies of our country to enjoy various advantages in international competitions in the future.In our country, the significances in protecting the rights and interests of minority shareholders are as follows: 1. it helps increase the value of the company and extend the scope of the capital market; 2. it helps keep the stabilization of the capital market and maintain the investors' confidence; 3. it helps realize the function of resource allocation in capital market; 4. it helps push the reform of state-owned companies and perfect the modem company institution.This thesis is divided into six chapters. Chapter one sets forth the special significance in protecting the rights and interests of minority shareholders in terms of microcosmic and macroscopic. Chapter two is the theoretical basis of this thesis and it gives the definition, character and content of rights of the shareholders.1Chapter three enumerates various kinds of encroachment: of the rights and interests of minority shareholders. Chapter four surveys the causes of encroachment of the rights and interests of minority shareholders. Chapter five and Chapter six are main bodies of the thesis. Basing on the analysis of the present situation in protecting of the rights and interests of minority shareholders and studying the experiences of foreign countries, the author puts forward a set of feasible mechanism for protecting the minority shareholders with a view of the special situation of our country.From the perspectives of the development history and its inner contradiction of stock system, the author analyzes the issue of protection of minority shareholders rights and interests and discusses the issue on the encroachment of minority shareholders interests theoretically. This thesis also proves, on the basis of international comparison, that the protection of minority shareholders' rights and interests is the starting point of improving stock market. Some further proposals are made in this thesis with respect to a feasible scheme for the protection of minority shareholders' rights and interests.The research methodology of this paper is the combination of theory and practice. The methodologies of deduction and comparative analysis have been adopted. This thesis discusses the historical origin, present situation and the solving method of protecting the minority shareholders. The topic being a different one, this thesis is justifiably not perfect. Still, it is the humble hope of the author that this article can shed some light on the issue of protection of minority shareholders' rights and interests.Peng Xuezhen(Ci...