Restriction And Protection Of Shareholders' Right To Know

In a modern company, since the ownership and management are separated, most of the shareholders do not directly participate in the management of the company, and the daily operation and decision-making powers are mostly delegated to the board of directors and managers. As a result, in the aspect of company and company decision-making, the shareholders are kept in a weak position with information, which leads to the information asymmetry. The precondition for the shareholders to exercises the rights is full access to information. Therefore, information access becomes very important for realization of the shareholders'rights and interests. Protecting the shareholders' right to know the real situation of the company is the foundation of the shareholders'other rights.Recently, the number of litigation cases related to shareholders' right to know has been gradually increased, and the issues of controversy cases present diversification which relate to the subject, the scope, the goal of the shareholders' right to know. There are different standards about the subject qualification of shareholders' right to know in judicial practice, resulting in lots of unlawful infringement to many shareholders in part.The legislation is far more than flexible to adapt to the active economic life. It is necessary and urgency to face the problem. Starting from the above understanding, this paper, coming from the angle of the balance of the interests of shareholders and companies, analyzes both theoretically and pragmatically, the restrictions and exercise of shareholders right to know.The main content of the paper consists of four parts.The first chapter is the basic theoretical analysis of the shareholders' right to know. It introduces the origin of the shareholders'right to know, defines its connotation and value.The second chapter aims to provide a reference for the legislation of the shareholders' right to know and to provide useful assistance to the judicial practice by using the solution mentioned. In addition, this part sets some limits on the subject, the scope, the goal for the shareholders from the perspective of balancing the interests.The third chapter discusses the subject, the scope, the goal and other reasonable restrictions of the shareholders' right to know. This part introduces the main qualifications shareholders' right to know, such as the former shareholders and other special entities.The last chapter is the discussion of judicial remedy. At present, there are leaks in the legislation in the judicial remedy. Some suggestions are put forward in the thesis, in order to perfect the system of judicial remedy of shareholder's right to information.This article aims to look at comparative analysis, basic on the right to create a more reasonable and effective protection of shareholder's right system. Then on this basis, put forward the suggestions for improvement.