Research On The Legal Issues Of Equity Listing Corporation Charitable Donation

The charitable equity donations of listed companies in the US have a very perfect system design and rich practical experience, which is the result of the development of company system and philanthropy. 《Enterprise financial problems related to public welfare donation equity notice 》(Cai Qi [2009] no. 213) confirms the legitimacy of the equity donations in our country, though it is not perfect, it does have a landmark significance.This paper describes the equity donations in four aspects:The first part of the paper made a summary of listed company’s equity donations, defined the concept of equity donations, then expounded the particularity of donations, the system of value and the evolution of legitimacy, introduced the process of the system in our country from scratch;The second part introduces the legal relationship of charity equity donations possible problems and solutions produced in the process of equity donations;The third part aims to expound on the right conflicts and the system construction in the process of internal governance of listed company after the completion of donations. Draws lessons from the Voting trust system and the declaration of charitable trust system, combines the practical situation of our country, to reduce the influence of the shareholding modification on the company, also adhere to the purpose of the charity. On the other hand, the change of shareholders involved in public welfare charity or listed companies, not only need the listed company fulfill its obligation to disclose information, but also need the charitable foundation make the corresponding information disclosure, which is necessary for both listed companies and charity. At the same time, it is important to prevent listed company from trading inside and conveying interests with Charity Foundations in the name of charity, which can do harm to the capital market and have a negative impact on charity.The fourth part introduces some related external issues after the completion of equity donations, for instance, the tax system in our country hindered the development of the listed company equity of charitable donations to some extent, so to upgrade tax policy to promote the development of philanthropy is a good way.Although equity donations is in the initial stage in our country, the amount and impact of the relating cases is big, which is one of the tendencies of the development of philanthropy. This paper mainly makes a clarification of the concept of the listed company’s equity donations, combines to the analysis of practical situation and legislation practice in our country then puts forward corresponding perfecting suggestions to the possible problems.