Research On The Protection Of Preferred Stockholders' Right In China

Preferred stock is between equity securities and debt securities of a hybrid securities.It is flexibility.It can be good to adapt to the field of capital market and the investment is relatively stable and returns,to meet the needs of different investors,praised by the majority of investors.Preferred stock system in our country has just arisen,derived a series of questions,and preferred shareholders' rights and interests protection is one of them.Preferred shareholders shall have the right to preferred dividend distribution and the company's remaining assets,to a certain extent,and the company high-level,ordinary shareholders and other stakeholders conflict.And preferred shareholders don't participate in the company's daily operation and management and voting rights is restricted,which is self-evident in the disadvantage position in the company.Company law,there is no clear the terms of the protection of the rights and interests of the preferred shareholders of the securities and futures commission to formulate the measures for the administration of is made for preferred stock system guidance but due to the pilot,there are a lot of shortcomings,provisions relating to the shareholder rights which on the one hand,there is no detailed.For issuance of preferred stock,voting rights restored vote proportion and company repurchase when pricing is specified by the articles of association,it is well known that the rules of most is a unilateral decision by the company and preferred shareholders due to small stake say less vulnerable to damage their rights and interests.Therefore,how to improve the protection of the rights and interests of preferred shareholders is the current we need to solve the problem.Based on the current legislation of preferred shareholders' rights as the foundation of research,in the first part of the article carding the concept and value of preferred shares,inductive preferred shareholders rights has such characters as contractual,creditor's rights and analyzes the necessity of the protection of the rights and interests of preferred shareholders.As a result of the limitation of preferred shareholders identity,and the shortcomings of the voting rights in its conflict with stakeholders when difficult to safeguard their own rights and interests.By analyzing the case in legislation and judicial practice,find the current preferred shareholders' rights and interests protection problem.Through exploring system design mature,rich practical experience,the state of advanced ideas,put forward countermeasures for protection of preferred shareholders in the future.Respectively from perfecting the dividend distribution of right conflict,expanding voting fan voting rights and improve the recovery mechanism,the guarantee of rights of preferred shareholders withdrawal mechanism,set up preferred shareholders general assembly are discussed from four aspects.Preferred stock system can effectively implement can depend on the preferred stock shareholders' rights to protect effectively.Safeguard the rights and interests of preferred shareholders so tangible promote preferred stock system is booming.