Study Of The Listed Companies Disgorgement System

As China's market economy development and improvement, as the main body of the market economy that companies are becoming more and more important, especially listed companies is even more important look. To ensure that the market economy the main company to normal operations and management, legal rights will be included in setting the company's system, over the years not only to make up for the disgorgement of its governance structure of listed companies to ensure the stability of the Company, coordinated and healthy development, fully protect the legitimate interests of minority shareholders, to mobilize the broad masses of enthusiasm and confidence of investors, but also in promoting the steady development of China's market economy has also played an invaluable role. So right system for listed companies classified research on the good health of listed companies in China and its internal development of protecting the legal rights of minority shareholders will play an important practical and theoretical significance, and thus the development of China's market economy also plays a very a big boost.In the study, the article try to use three methods:historical analysis, comparative analysis, empirical analysis. This paper is a combination of legislative practice, the right of existing laws and regulations in the classified system deficiencies. From the Company Law provides that "non-compete disgorgement" and the securities laws of the "short-term transactions fall under the power" to start the similarities and differences, through the system of legislation to require disgorgement of foreign and theories of analysis and induction system of the disgorgement essential characteristics, to explore the purpose of disgorgement and characteristics of the legislation, which explicitly included in the right of the feasibility and necessity of the system itself and of its irreplaceable value. Finally, listed companies will be further classified through the right system for the implementation of the object, the implementation of program analysis and research, etc., from two aspects of substantive and procedural rights system on our classified system to perfect the idea. This paper argues that the company is a listed company in particular, should be defined as the formation of disgorgement right, so its small and medium enterprises can implement the main shareholders, protect the company itself (the actual is the protection of the legitimate interests of minority shareholders) should be the fundamental purpose of its establishment is located.