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Research On Shareholder Voting Trust

Posted on:2019-06-12Degree:MasterType:Thesis
Country:ChinaCandidate:C C HuoFull Text:PDF
GTID:2416330545995893Subject:Civil and Commercial Law
Abstract/Summary:PDF Full Text Request
The shareholders of a company can exercise their voting rights to achieve the management of the company's income and other powers.Whether the voting right can be fully exercised is directly related to the interests of the shareholders of the company,making the exercise of voting rights way be rich will have the important significance.The voting trust can act as a protective umbrella for the interests of the small and medium shareholders to a certain extent.It can even boost the realization of the control power to ensure the firm's steady operation.The voting trust can also play a catalytic role in the realization of labor employment capital,and it is of great significance to protect the interests of the creditors.At present,there are no relevant laws and regulations about voting trust in China.there are still many controversies about the object and significance of voting trust in academic circles.However,in practice,there are related cases of voting trust.The crux of corporate governance lies in the asymmetry of information.This paper attempts to explore the importance of voting trust in reducing information costs as an incentive mechanism from the perspective of information economics.Voting trust system originated from the United States.By studying the development process of voting trust system in the United States,it can provide theoretical basis and valuable practical experience for the establishment of voting trust system in China.From the perspective of the supply and demand of law,this paper analyzes the necessity of introducing voting trust system in China,and puts forward relevant proposals for legislative mode and specific rules according to the actual conditions of our country.This article is divided into five chapters.The first chapter is the introduction.This chapter first explores the background of voting trust system from two aspects: the contradiction between the controlling shareholder and minority shareholders and the case of Qingdao Brewery,and explains the significance of the system.Then the literature review is carried out from three aspects,the object,thenature and the function of the voting trust,and the overall evaluation is given.Then it briefly introduces the content and innovation of the article.The second chapter is an overview of the voting trust system.Through the analysis of the two theories on the object of the voting trust system,the object of the voting trust is clarified.It also analyzes the dual attributes of voting trust system,and probes into the rights and obligations of the relevant people,and further explores the connotation of voting trust system.This chapter also studies the functions of the voting trust system,and the difference between the voting trust system and other similar systems,such as the voting power system.The third chapter is the information economics analysis of the voting trust system.The method of information economics analysis is the closest approach to the real market environment.It analyzes the problem of information asymmetry in the current incomplete competitive market with the perspective of incomplete information and asymmetric information.The principal-agent mechanism is the best contractual arrangement to explore the incomplete competitive market.How to design an optimal mechanism to motivate the agent to implement the maximization of the principal's utility is the key to design the incentive mechanism.Then this chapter explores the possibility of voting trust system as an incentive mechanism.The fourth chapter studies the development course of the voting trust system in the United States.The American voting trust system has experienced the process from emergence to negation to affirmation in the United States.The voting trust system in the United States is studied and analyzed,the chapter summarized the successes of the voting trust system in the United States,which are worth learning,so as to construct a voting trust system suitable for China's national conditions.The fifth chapter introduces the exploration of the voting trust system.From the perspective of law supply and demand,the author analysis the necessity of establishing voting trust system in China.Meanwhile,the feasibility of the system is analyzed throughthe current legal framework,and then explore the legislative mode and relevant specific system of voting trust system in China.
Keywords/Search Tags:Voting trust, Corporate Governance, The Information Economics, Principal-Agent
PDF Full Text Request
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