The Legal Research On The Anti-takeover Rights Of Listed Companies In China

This essay mainly researches on the legal issues which are related to anti-takeoverrights of listed companies in China. The target company is referred to listed companyin this whole essay unless indicated otherwise. This essay is divided into four partiesas whether a target company should have anti-takeover rights, what kind ofanti-takeover rights decision-making model should be taken in China, what kind ofanti-takeover measures can be legally taken in China and how to perfect the rightsrelief system in Chinese anti-takeover rights legal system.This first party mainly researches on the theoretical base of anti-takeover rights.Trying to discuss whether a target company should have anti-takeover rights and thesupported theoretical base. Then, the writer suggests that the anti-takeover rightsshould be given to target company, meanwhile the rights should be governed by laws.The second party tries to analyze the anti-takeover rights decision-making modelsand give suggestion on the choice of the model in China. Firstly, this party comparesthe two decision-making models performed in foreign countries and suggests that thisdecision-making model should accord with a country’s legal system and nationalconditions, then analyzes the legislation situation which is related to target companies’anti-takeover rights decision-making model in China and gives suggestion oncompleting the anti-takeover rights decision-making model in China. The conclusionis that the decision should be mainly made by the meeting of shareholder’s and theboard of directors should also take an active role in it. On the other hand, for beingefficient, the board of directors should also have rights to make certain decisions innecessary.The third party researches on the legal practicality in China of some anti-takeover measures which are widely used in foreign countries.The forth party tries to give suggestion on perfecting the rights relief system inChinese anti-takeover rights legal system. Whereas there is a lack of rights relief inChinese practicing laws to give relief in case that the anti-takeover rights is abused, inorder to maintain the legal rights and benefits of each party, this party suggests whichshould be contained into the range of legal relief and how to complete the civil reliefmethod and administrative relief method in China.