Research On China’s Proxy Solicitation Legal System

Theorists believe that the power of attorney is accompanied by the development of listed companies and companies compete for control of the company resulting from a "double-edged sword." If properly regulated, can be mobilized to participate in the operating company’s shareholder initiative to safeguard the interests of minority shareholders,to protect the company executives responsible for their own work faithfully caution,reduce the cost of acquisition company, improving operational efficiency, and improve corporate governance. Such as improper regulation, it may become the company’s inefficient and incompetent managers self-perpetuating way, reduced external shareholders and controlling shareholder of individuals competing for profits tools affect the company’s normal operations and sustained damage to the legitimate interests of the shareholders.Proxy solicitation system of listed companies in the stock market the world has been widely recognized, has now become an effective system of corporate governance in the countries indispensable. In China, the stock market more than 20 years of development, increasing public investors, but in the legal regime governing the solicitation of listed companies in China is still a lack of complete system build. This article is a preliminary exploration about China’s proxy solicitation legal system.This paper is divided into four parts. The first part is to introduce the system of proxy solicitation with respect to listed companies, including listed companies in the solicitation of meaning, and the shareholder vote, general agent, shareholder trust differences in interpretation and value analysis inking listed company proxy solicitation. The second part is the legal investigation of overseas proxy solicitation, analysis revelation ownership concentration and type of dispersed ownership of two proxy solicitation system to China. The third part is the exploration of the proxy solicitation system feasibility and necessity. Reveals that the stock market has become more sophisticated in the premise, proxy solicitation help to mobilize to protect the interests of minority shareholders, improve the governance structure of listed companies, thereby affecting the national economy and life. The fourth part blank from the existing legislation to make specific recommendations for listed companies in the solicitation of problems in practice.The proxy solicitation legal system designed to safeguard the legitimate interests of minority shareholders, promote corporate governance structure are maturing.