Study On The Legal Issues Of Companies Repurchase Their Own Shares

The company repurchases its own shares as a common capital opera tion tool in the developed capitalist countries.It has been widely used in European and American capital markets,but its development i n China is slow and not mature.The main reason is that the capital market in China started late and restricted by the civil law system with strict legal capital system.However,in 2005,the implementation of the equity division reform accelerated the process of repurchasi ng its own shares by Chinese companies: before the share reform,the cases of Chinese companies repurchase their own shares were mainly non-tradable shares;after the share reform,the repurchase behavior of the social circulation stock as the backbone force had occupied a considerable position and realized the goal of the unification of t he national securities market,but at the same time,there are many problems.Because the company repurchase its own shares is of greatsignificance to the implementation of equity incentive plan,optimiz ing the company's capital structure,and prospering the capital marke t.Therefore,it is particularly necessary to carry out in-depth ana lysis and research while paying sufficient attention to the company's repurchase of its own shares.This thesis uses the judicial case as a reference,starting from basic issues such as concepts and characteristics,conducting a leg al analysis of the advantages and disadvantages of the company's repu rchase of its own shares.Through the study of the foreign legislati ve mode,this thesis discusses the choice of our country's legislati ve attitude to the system,combined with multiple analysis methods,p rovides detailed argumentation for the specific legal issues of the company repurchasing its own shares.In view of the fact that Chines e scholars have recently written a few theses on the legal issues of repurchasing their own shares in the company,and have rarely studi ed systematically.This thesis will combine the judicial practice an d theoretical research of our country to synthesize the research res ults of various countries on the system and break through the origin al.There is a fixed mindset and theoretical framework that seeks to innovate in theory.With a view to maximizing its positive effects in judicial practice,it can provide a realistic theoretical basis f or the company to repurchase its own shares and provide more practical guarantees for the prosperity of the market economy.