Discussion On The Legal System Of Listed Companies' External Guarantees

With the development of the opening of the financial market and the stock market, guarantee. plays an important role in ensuring safety of bonds, reducing transaction costs and promoting the functions of financing in modern economic activities. At present, especially as a public listing Corporation in order to seek greater, more space for development, the guarantee behavior has become a common phenomenon in securities and capital market in China.The listing Corporation guarantee behavior give provide full play to the effective promotion of trade and capital.At the same time,it attracted many legal risks, have threated on the social justice and order.That makes the conflict becomes more and more complicated within internal power of company and the third party and the government. Although these problems also exisit in other types of companies such as limited liability companies, but far less serious than the listing Corporation's. On the one hand, they use the the false accounting information to avoid the normal supervision and disclosure investors read the report; On the other hand,it infract the legitimate rights and interests of the company, shareholder and creditor.Also,the normal business order cannot avoid being disturbed, it may expand the whole risk of the securities market potentially.When the external security problems emerge like bamboo shoots after a spring rain, it needs to have special solutions to listing Corporation guarantee.Then the system was born.Our Country has formulated a series of related standard of listing Corporation guarantee behavior successively.However laws?regulations and policies has no effective effect.So far, the research scope of the listing Corporation guarantee system and its effect is expanding, this thesis starts with the theoretical analysis by collecting the analysis of relevant documents. Further, analyze the status quo of China's listing Corporation guarantee system from the legal angle (normative study method) to, find out the existing problems. Finally, study how to perfect and reasonable use of existing laws and regulations on listing Corporation guarantee, how effectively preventing the guarantee risk and regulation of listing Corporation.This paper consists of 4 parts:The first part expounds the legal regulation of the legitimacy of the listing Corporation guarantee behavior, discuss mainly from the guarantee behavior of listing Corporation to pursue the company autonomous or legal regulation, and the current national legal provisions.The second part expounds our analysis of the listing Corporation external guarantee system, mainly analysis China's current external guaranty system and the effect of the guarantee contract from the legal perspective and practical perspective.The third part refers to the defects of the external guaranty system of the listing Corporation, discusses mainly from positioning itself security procedures and penalties and other legal still need to perfect the review.The fourth part discusses how to perfect China's listing Corporation guarantee system, discusses how to perfect the guarantee system mainly from legislation, law enforcement, judicial.