Study On Legal Problems Of The Shareholders’ Right To Learn The Truth

With the rapid economic development of market economy today, corporate enterpriseshave become a major economic subject in the world. Corporate enterprise has its uniquegovernance model, that is to say the separation of ownership and management, which makesthat although shareholders are owners of companies, they cannot control and manage thecompanies directly, so the company’s franchise lies in the hands of managers employed by themanagement companies. Shareholders can only be achieved through the exercise ofshareholders’ rights to their interests. Thus, in order to ensure that managers are operatingcompanies for shareholders’ interest, shareholders must have a real and completeunderstanding on the companies’ business activities, which resulted in the concept ofshareholder ’s right to know, it also the basis for achieving other rights for shareholders. Onlyensure the shareholders’ right implementation can we talk about the realization of othershareholders ’rights, otherwise the other shareholders’ rights will be like castles in the air, onlya dead letter. In recent years, shareholders’ right to know have triggered dispute continually inour country. The phenomenon of violating shareholders’ right has occurred in LLC (LimitedLiability Companies) and joint stock companies, which have been got more attention by thejurisprudential circle. Quite a few scholars have begun to find a feasible way to protectshareholders’ right to know from legal system in our country. Although the shareholders’ rightto know in “Company Law” which is currently being implemented has already made someimprovement, there still need more in-depth study and discussion.In this paper, we begin from the basic theory of shareholders. The first part of this articleis to research the concept of shareholders’ right, features, content, and the second partanalyzes the current situation of China’s legislative system of the shareholders’ right to know,finding out the existed problems and the foreign mature legislative experience. The third part will forward some suggestions in terms of the right of access, the right question and claims.