The Legal Protection Of The Governance Of Listed Companies

As a big party in china’s market economy, listed company plays apivotal role in our country’s economic development. However, since thescandals of a series of listed company represented by YinGuangsha exposed,China’s company law scholars have made thoroughly discussion on theproblems existing in the current governance of listed company. There areserious defects existing in the governance of listed company legalmechanism, which seriously prevents the construction of the listedcompany’s governance system from improving and affects China’s healthydevelopment of the market economy. This unbalanced phenomenon should bechanged, so perfect legal system is required to ensure that thegovernance of the listed company operates reasonably. In this legalsystem, it is beyond doubt that the criminal law is the last safeguardof right.From the problems existing in the internal governance of listedcompanies in China and the defects in China’s current law about the listedcompany’s external governance mechanism, This article expounds the roleof the law, especially the criminal law played in the listed company’ s governance, This article also expounds how to build a reasonable anddelicate criminal security mechanism to govern the listed company. Thisarticle has three parts:The first part focuses on the relationship between the law and thelisted company’s governance. It expounds the development of the theoryand principle of the listed company’s governance, the reason why toregulate it by law, how to guarantee the governance and the defects inthe relevant law to protect the governance.The second part focuses on the necessity of the criminal mechanismin the protection of the listed company’s governance. This part includesthe analysis of the advanced experience of foreign criminal law insecurity of the foreign criminal law and the problems existing in ourcountry’s criminal legislation and judicial practice in the governanceof the listed company.Based on the foreign country’s advanced criminal law and judicialpractice, the third part firstly forwards some legislation and judicialsuggestions on how to build a reasonable listed company governancecriminal security system. Secondly, according to the nature andprinciple of the governance of the listed company, this part alsodescribes the limitation of the criminal security mechanism’ sinterference in the governance of the listed company.