Analysis System Of Shareholder's Right To Know

Shareholders are the basic member of company which is the main participator in themarket economy. So the protection of the rights of shareholder is an importantprerequisite for the legitimacy and legality of the corporate system, which ensures thevitality of capital markets and consists of the core value of corporation law and securitylaw. The shareholders’ right to know is a precedent and leading rights in the bundle ofshareholder rights. This thesis begins with the introduction of the basic concept、significance and theoretical basis of the shareholders’ right to know and then analyzesthe rights of its substantive structure and nature of the shareholder ’right to know. Afterthe exploring the conflict and its causes between shareholders’ right to know and theinterests of the company in the process of the exercise of shareholders’ right to know,this thesis puts forward reasons and safeguards to the interest conflict. Finally, itpresents the reliefs to the hinder of the shareholders’ right to know, from the proceduralperspective of litigation and non-litigation.This full thesis is divided into four parts except the introduction and conclusion. PartI introduces the concept, significance and theoretical basis of the shareholder’s right toknow. The thesis adopts the title of "shareholder’ right to know" defined as a bundle ofrights with which the shareholders of a company according to the law or the articles ofcompany, are entitled to access to and acquire various types of information generated inthe company’s establishment, running and management.Part II illustrates the structure and nature of the shareholders’ right to know. This partfirstly sets forth the elements of the right such as the subject, content, and object, withfocusing on the four substantive sub-rights and then analyzes the nature from theperspective of the classification of the civil rights and shareholders’ rights. It representsthe relative nature of the right to claim, and has the features of both the inherent right ofself-interests and common interests with the instrumental value, which is assigned toshareholders under the law.Part III explores the protections and limits to shareholders’ right to know on theground of the conflicts and balance between the Shareholders’ right to know and theinterests of the company in the process of exercising shareholder’ right to know. Thispart explores the conflict and its causes between them and then puts forward reasonsand safeguards to balance the interest conflict.Part IV, bearing the spirit of "No right without reliefs”, presents the reliefs to thehinder of the shareholders’ right to know, from the procedural perspective of litigationand non-litigation, with the highlights on the system of writ for inspection andnomination of independent inspector.The thesis systematically studies on the system of shareholder ’right to know, andpoints that the system has important value. With the methods of comparative analysisand legal interpretation and with reference to the foreign systems of Company Law andtheir practices, this thesis gives the thinking and review of the inadequacy and drawbackof provisions of the shareholders’ right to know in in mainland China Companies Act,hoping to perfect the Law and its system to meet the practical needs of shareholders’rights protection, and to provide a meaningful reference to the judicial practice.