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The Research Of Cumulative Voting System Of Public Companies In China

Posted on:2018-01-09Degree:MasterType:Thesis
Country:ChinaCandidate:L Y YueFull Text:PDF
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With a gradually upsurge of capital market,there were much public companies achieved rapid expansion.At the same times,problems in management has present repeatedly.The argument about the control right of company has become the focus pot of society.So we can draw a conclusion that there are many deficiencies in the management of public companies in our country.Such as the fight about the right of control and benefit distribution among different shareholders.These things may lead to the management of company in mess,indeed the stock suspended..This article is about the research of cumulative voting in our country,the main objective of this system is to balance the wide gap between strong stock holders and minority shareholders.It gives minority shareholders opportunities to vote for their spokesperson to join the board of directors,so the spokesperson can transmit their “voice” to other big directors.The first part of this article is the introduction of the background of the subject and the main research significances,also state the main content of the article and the innovative pots.The second part is the state of the concept of cumulative voting system,the specific application mode and the legislation model of this system.This system mainly been used in the election of directors or supervisors.Each stock means the corresponding quality of vote;the shareholders can gather these votes to vote any candidates.This part also analysis the merits and demerits of this system,and state its value.The third part of this article is the contradiction of development of this system in our country.And also conclude the reasons why the current situation of implementation of this system is not as ideal as expected.The corporation law of our country joins the cumulative voting system in the year of 2005,but the clause only conclude the conception of this system,there were no specific enforcement regulation and prepositive and post procedures.With the addition of the situation that unbalanced ownership distribution,these factor all lead to the negative consequence.The forth part introduces the legislation of America,Canada and Japan,and also their problems they met during the enforcement of this system.And learn their successful experiences of their legislation and enforcement combine with the concrete national conditions.The last part of this article is the suggestion of author about the perfection of cumulative voting system in our public companies.
Keywords/Search Tags:public company, cumulative voting system, the benefits of minority shareholders, corporate governance mechanism, the balance of rights
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