| Related guarantee behavior has become one of the effective means that listed companies raise operating funds. It has a certain degree of rationality that listed companiesits provide the related guarantee from the perspective of operation. It has a certain legitimacy that the law does not prohibit acts of listed company’s related guarantees from the perspective of legislation. It not only enables listed companies operate in the capital market with high speed, but also has shareholders and listed companies make profits together, and then form a "win-win" situation. If a company provides the guarantee for another person or company with its own credibility as well as the property, there is a huge risk actually, however, the opposite risk is huge income, and someone will benefit from this risk. Does not rule out, behind this kind of huge gains is violation or even illegal. Related guarantees may be one of the available tools. In China, there exist many high-impact commercial cases that were linked with related guarantees inextricably. The existing "Company Law", "Securities Law" and other laws shows helpless at the time of regulating listed company’s related guarantees. Thus, regulating the related guarantee behavior has become a trend. This article is based on Chinese legislation and judicial practice, focusing on related guarantee’ problems of listed companies, from the standpoint of balancing the interests of shareholders and the protection of creditors, and to provide recommendations on how to improve our public companies’ releted guarantee system. There are many acts that laws and rules and regulations regulate related guarantee of listed companies in existing legal system, but with the economic development and the ever-changing business forms, public companies’related guarantee exist more and more problems and tend to complication. That not only increased the potency of supervision, but also exposed the flaws of legal system. This requires us to investigate how to improve the relevant laws and their matching legal remedies procedures basised on existing legal system, and then, to regulate the behavior of related guarantees and to maintain the normal order of market operators.There are six parts in this paper:The first part is introduction, which stated the significance of the title, research methods and innovations and review on domestic and foreign research; The second part identified the basic concepts which are associated with the guarantee, and discussed several guarantee forms of public companies deeply, laying the foundations for the launch of the study; The third part discussed the related guarantees’ status of the listed company, the reasons of generating irregularity related guarantees and possible adverse effects. In this chapter, we introduced the problems of listed companies’ related guarantee by analysing the their situation and elicited their causes to offer direct on how to solve the problem. The fourth part illustrated regulating problems that Chinese existing laws and rules and regulations regulate listed company’s related guarantee, and discussed the existing flaws of legal system; The fifth part introduced other countries ’and territories’ legal system on regulating listed company’s related guarantee, this provide the references for improving related guarantees’ related system of our listed companies; The last part gave some advice for improving related guarantee of list company to achieve the aims of regulating the related guarantee from the perspective of legislation and corporate governance. |
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