The Research Of Protection Of The Rights Of Small Investors Under The Listed Company Highly Decentralized Equity

This paper discusses the listed company that is highly decentralized equity under the protection of the rights of small investors. Small investors in China securities market is important in the main body of investment, the investment confidence directly relates to the stable development of the capital market.China’s stock market limited sales shares in recent years, it has lifted circulation, the stock market gradually into the circulation era with the social security fund, institutional investors gradually entered the capital market, part of the listed company equity structure is too centralized gradually moving towards the scattered.In the company shares is too centralized cases, the big shareholders often use its absolute holding status damage the interests of small and medium shareholders, and in the company shares too scattered cases, the company due to a lack of absolute holding shareholders, the company’s power from the center of the shareholders’meeting center started then to the board of directors of socialist and finally to executive the center of transfer center, management control is serious, at the same time as the company shares too scattered, liable to become take over of the target company, small investors equity suffered different forms of violation.Small investors is an important subject in the securities market, when their rights violations can’t get from the protection of the law certainly will affect its investment confidence, for the Chinese capital market is not stable development.Especially in China in share-trading reform, securities market has gradually into the circulation under the background of the age, the number of small investors greatly increased, but the company is still in the weak position, and its rights in this background suffered different violations, it hit small investors investment enthusiasm, of the securities market and stable development greatly.So in the listed company highly decentralized equity under condition of the rights and interests of the investors to small and medium for full protection, not only for the company interest groups on one side of the weak should be relieved, also is the need of realizing social justice.So the good investment environment help small and medium-sized investors to better for investment, and can arouse small investors participate in the operation and management of the public enthusiasm, make small investors from "negative type shareholders" into "positive type shareholders", actively to exercise their rights as the shareholders of a company.This is a listed company management supervision and, at the same time for highly decentralized equity of the listed company "insider control to the phenomenon of good governance effect. Therefore, in the listed company shares a highly decentralized circumstances, it is necessary to strengthen the protection of the rights and interests of the investors, it has become China’s market securities of the stable development of the urgent need to address the problem.Our country "company law and the securities law and the judicial interpretation on the small investors rights for protection of the regulations."Company law" is from corporate governance Angle, to the main body of the rights of the status and rights from the substantive law and procedural law both for a more specific provision, and the securities law mainly from the normative behavior corpus, mainly of the listed company of securities issuance and trading behavior to the point of view of the protection of the rights of investors, the two laws on, complement each other.But two laws to protect the rights and interests of investors are focus on the equity of the high concentration of Angle regulation, in the listed company shares a highly decentralized circumstances, the rights and interests of investors and damaged presents different way, our country law did not have more targeted regulation, it is necessary to the current law of protection of the rights of investors relative regulations comb.In the securities market fast development, the listed company equity structure under the background of happened, combined with the corresponding provisions of the law of our country, this paper on the listed company shares a highly decentralized case small investors rights related problem is studied.In the securities market fast development, the listed company equity structure under the background of happened, combined with the corresponding provisions of the law of our country, this paper on the listed company shares a highly decentralized case small investors rights related problems in study this article first from listed company of change of ownership structure, lists the example analysis of the listed company of equity structure and its effect on the development of management of the company, and the highly decentralized equity of small investors for defining the concept, the paper analyzed the company shares a highly decentralized case of small and medium-sized investors the necessity of rights and interests protection;Secondly discuss small investors in damage to the new ways, including management control is serious and purchase behavior such as frequent, and combine the background of the analysis of the root causes of the damage; On the basis of this in our company law and securities law of protection of the rights of investors in the company regulations and highly decentralized equity situation of the existing disadvantages; At last this paper illustrates the company shares a highly decentralized case how to strengthen the protection of the rights of small investors.