Study On Legal Issues Of Fulfilling The Public Commitments Of The Listed Companies And Their Stakeholders

The public commitment of listed companies is aimed at obtaining the funds of investors,gaining the trust of securities regulators,stabilizing the expectations of securities market and enhancing the confidence of investors.But in fulfilling commitment,for various reasons,the listed companies and their stakeholders went against the original intention of commitment.They unfulfilled the commitment beyond the deadline,altered the commitments arbitrarily and breached the commitments.It seriously infringed on the legitimate rights and interests of the securities dealers and the relevant investors,and resulted in the integrity disorder of the securities trading market.Dishonesty of the listed companies and their stakeholders exposed frequently,it aroused researchers' discussion and reflection on some related legal issues in fulfilling commitments.This thesis intends to investigate the performance of public commitments by listed companies or their stakeholders in securities market of China presently,and analyzes the legal issues which occurred in fulfilling commitment and the reasons for the breach of public commitments.This article is to probe the solution of some related legal issues and perfect the pre-seo regulation,pro-seo regulation and postmortem supervision of breach of public commitments with the principle that protecting the legitimate rights and interests of small and medium-sized investors of the securities market.This thesis is composed of three sections except for the introduction and conclusion.Part One is a general interpretation of the public commitment to performance.First,determine the nature of the public commitment,and lay the theoretical foundation for the confirmation of civil responsibility.Second,analyze the status quo of commitments performance to find the issue and the type,characteristic and impact of breach of commitment.Last,summarize the factors which could influence the commitments performance.It is convenient for solution in the later section.Part Two focuses on the issue of the civil liability of the listed companies and their stakeholders who breaching the public commitments.This part mainly elaborates the necessity of bearing civil liability for the unfulfilled public commitment and probe the legal liability of breach the public commitment.When identify the legal liability,it needs to compare two different forms of assume liability including the responsibility for breach of contract and the tort liability with remedies for breach of commitment and find a reasonable remedy to protect the legitimate rights and interests of investors to the utmost extent.Part Three discuss the supervision of fulfilling the public commitment.After combing the supervision status of the public commitment,this section proposed the solutions which perfect the supervision system of fulfilling the public commitment combining the analysis of previous two sections.Then utilize varying measures at different stages including beforehand,halfway and afterward to ensure the fulfilling of the public commitments and protect the legitimate rights and interests of investors and good faith in securities market in China.