Research On Legal System Of Company Class Of Shares

The class of shares legal system is an important system of company law and has many years of application experience in countries outside the country,such as the United States and Japan.Class shares are distinguished from ordinary shares.The philosophical foundation upon which ordinary shares are established is absolute equality of nature rather than complementation of equality.The special performance of high-tech companies in the capital market and the drive of traditional capital by modern human resources represented by entrepreneurs have made the value of shares such as preferred shares separated by voting rights increasingly prominent.As a better choice for legislators,it should adapt to the market instead of tailoring or sticking to traditions.At present,Hong Kong follows the United States to accept IPO applications from related companies with "shares with different shares' rights",which has brought new opportunities for the investment banking business in Hong Kong.The mainland also needs to speed up system construction to promote the healthy and harmonious development of the capital market.In the establishment of class of shares system,combined with the theme of this article,first of all need to clarify the meaning of class of shares.The general said that the class of shares referred in the company's articles of association that stipulate more than two different types and types of rights attached to different rights.Regardless of whether the rights are attached to specific shares,the rights are not attached to specific shares,and the same type of shares have different rights on the same type of shares,or the same type of shareholders have the same rights and different interests,and they can all form class of shares.The system of class of shares is in line with the principle of equality of shareholders and the autonomy of the company's articles of association can be achieved.The key lies in maintaining the balance of interests between class of shares and ordinary shares.There are also unique institutional advantages for broadening corporate financing channels,enhancing corporate governance flexibility,and challenging traditional corporate capital system concepts.Secondly,the class of shares should keep pace with the times.Some categories are not the type of shares that can be issued under the law at the outset,but as an additional right attached to the shares.The voting rights shares,preference shares,convertible shares and repayable shares are the initial designs of the extraterritorial country class of shares system,and are the most typical category shares.With the changes in the market,the development of practical applications and theoretical research In-depth,legislators should adopt laws to amend the types of stocks to meet the needs of the times.Finally,a single,one-sided system must have limited effectiveness,and systemization of the class of shares system is imperative.Systematic requirements system applies to more types of companies,and different rules should be made according to different company forms.At the same time,the relationship between the company law and the company's charter autonomy must be well coordinated and the protection mechanism for class shareholder rights should be established.China is now in a critical period of market economic reforms.During this period,the company's financing methods have become increasingly complicated.Sticking to traditions or copying foreign laws is not desirable.Therefore,we should comply with the development trend of the times and the national conditions of China.The legal system is very necessary.