Research On The System Of Classified Shares

Classified Shares of the company are made according to their own developmentneeds and preferences of shareholders in the shareholder rights and obligations ofdifferences. Classified Shares early in the era of the industrial revolution has beenproduced, after two hundred years of development and perfection in practice, has beenrelatively mature.But in comparison, the establishment of market economy in ourcountry, the development of companies and shares system is still in groping, still in itsinfancy.Loopholes and deficiencies in many ways of the system of Classified Shares,limit the application of the system of Classified Shares of the corporate governance inour country.At present, the system of Classified Shares in many countries to the perfect in theprocess of practice in the mode, program, content, has formed its own system, andprovided a good legal environment for the development of the domestic companies, andgradually moving towards the company legal system modernization. And in our country,in the new "company law", Classified Shares only in the company law article132andthis law are sporadic incomplete. Such legal environment on the application of thesystem of Classified Shares is extremely unfavorable. First, the system of ClassifiedShares of our country company law does not provide a clear mandate, leading to thelegitimacy of the system of Classified Shares unclear, the company in the process ofdevelopment will be skeptical and did not dare to use. Second, the regulation of ourcountry for the system of Classified Shares is generally referring to other rules andregulations, separate regulations, and as the framework, interoperability is not strong.Third, our country on the division of Classified Shares still stays at the "preferred" leveland lack of flexibility. Finally, as the important content of the system of ClassifiedShares, shareholders’ rights protection mechanism in our country has not stipulated.In this paper, the integrated use of comparative research, deductive inductionmethod, the empirical study method, literature research and other research methods, theproposed categories according to the concept and classification of the system ofClassified Shares, exploring its origin and development course, summarize sector inpromoting the company system development and maintenance of the shareholders’equity value and significance of practice. Then through empirical research, analysisrules of China’s system of Classified Shares and the development present situation, findout the specific problems that in the system of Classified Shares of our country, withthese problems, take the representative countries of the more developed companysystem of Anglo-American law system and continental law system of the system ofClassified Shares on the analysis comparison, thus for shares of the system of ClassifiedShares of our country to build to find the right way. Next, according to our countrypresent legislation insufficiency, the company development situation and the existingshortcomings, combined with analysis on the investigation to the foreign advancedsystem, the share of category system of our country’s future development put forward some own views and opinions, Suggestions can choose from the patterns in our country,legislation, establishing diversified shareholders’ rights protection system and so on tomake up for lack of company system, promote the competitiveness of the company,meet all kinds of shareholders’ legitimate rights and interests of investors demand andsecurity will give full play to its advantages, promote the modernization of our countrycompany system.