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On The Cumulative Voting System

Posted on:2007-12-10Degree:MasterType:Thesis
Country:ChinaCandidate:H Y WangFull Text:PDF
GTID:2206360185972295Subject:Law
Abstract/Summary:PDF Full Text Request
One of the most important functions of the corporation law is to balance the internal authority and supply the legal protection to the interested parties. Along with the modern corporation idea changed from " general meeting centering principle" to " board of directors centering principle", as the policy-making organization, the board of directors plays more and more important roles . In order to perfect the corporation governance and protect the middle and small shareholders' interest, the cumulative voting system comes into being.The cumulative voting system means that each stock has the same right to vote when the corporation general meeting elect directors or supervisors , and the shareholders can concentrate the vote or use them separately. The cumulative voting system has a history of 130 years since it came into being, but it is still a new system actually in our country. This thesis elaborates the cumulative voting system based on china's legal system. This thesis is divided into four parts altogether.Part one: a summarization of the cumulative voting system. This part has mainly discussed the origin and characteristics of the cumulative voting system. As one of the legal system, the cumulative voting system originated in the American Illinois state in 1870. In the history of the cumulative voting system, there were two kinds of patterns: mandatory cumulative voting and permissive cumulative voting. Compared to the directive voting system, the cumulative voting system has its own characteristics.Part second: the legal appraisal for the cumulative voting system. Said from the legal principle theory, the cumulative voting system is the effective supplement to the vote principles, the manifesting and developing of the balance idea in corporation law, and the righteousness of the just and equal principle. Under Chinese present legal situation , we should put the cumulative voting system into practice.Part third: the analysis on the efficiency of the cumulative voting system. This part analyzes the cumulative voting system in china and introduces its mathematical model. The cumulative voting system just like the gambling, namely that the different elective strategy can result in the different elective result. And this kind of gambling has its own characteristics. Finally this part discusses several kinds of method from which we can avoid the effect of cumulative voting system.
Keywords/Search Tags:Cumulative voting system, Corporate governance, Directors
PDF Full Text Request
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