On The Protection Of The Interests Of Minority Shareholders Of Listed Companies Delisting

The delisting for list company will demage the circulation of stock obviously and seriously influence the benefits of large medium and small investors. Our country stock market mainly takes retail as corpus, large medium and small investors are the main investors of stock market, although the number is numerous, but they are placed in a minority at funds amount, information outlet aspect. Mature stock markets all put the important position about the medium and small shareholders rights protection. And provide a full compensation to the injured medium and small shareholders in delisting by various laws. In our country, most listed companies which result to enforcing delisting because of taking place illegal behavior seriously, and there is a lack of valid indemnification mechanism for serious of medium and small investors. This pricked up medium and small investor fear delisting, and will take bad influence of stock market. As a result, strengthened to the medium and small shareholder rights' protection that delisting of listed company has special meaning in present stage.The thesis analyzed first the concept of delisting, and elaborated delisting take the influence of medium and small shareholder rights. Point out seriously and illegally behavior which cause to delisting should give the damaged medium and small shareholders a full compensation. Then this thesis discussed delisting for medium small protective value of the shareholder rights. Include law value and economy value. To protective the delisting for medium and small shareholder rights is the target of modern democracy rule of law society value. Then, this thesis discussed that the provision of delisting of the medium and small shareholder rights' protection in international mature stock market. And introduce our present condition about protective medium and small shareholder rights. Point out there is some problems about protection of delisting for medium and small shareholder rights. And analyzed the domestic and international mature stock market compare with our stock market in the protection of small shareholder rights, get to enlighten. Finally, this thesis combines the current present condition of our country, in according to foreign lawmaking to practice and lately legislative foundation, put forward concrete measure in the delisting of medium and small shareholder rights protection. Include establishment the method, the perfect civil responsibility, building up delisting for listed company of medium and small shareholders protection law system, strengthening the supervision of Securities supervision commission and Stock Exchange. In addition, this thesis provides concrete suggestion which perfect the relieve of delisting for medium small ownership of a share benefit from the angle of procedure, put forward combining together group litigation and representative's litigation on the litigation, setting up the litigation method of small shareholder in the our country perfect protection. The indemnification ability which combines from the perfect responsibility person commences, strengthening to cause the delisting responsibility that the illegal behavior of controlled shareholder and board director. Through combines together entity method and procedure method to give full guarantee to delisting for medium small shareholder rights.