Comparative Research On Mergers And Acquisitions Legal Systems In China And Poland

Mergers and acquisitions of listed companies are referring to transfer of control over corporation,as a result of purchase of the shares already issued on a stock market by the investor,thereby making it possible to take control over the targeted company.Stock market participants and regulators of each country attach great importance to such transfer transactions,as purchase of listed companies is actually one of the most important trading activities on capital markets.Due to the increasing trend of Chinese and Polish cooperation,as well as considering M&A of listed companies to be the most likely to take place between the two countries in the future,this thesis,through adopting comparative research methods,analyses Chinese and Polish M&A legal systems and related market restraint mechanisms,points out the differences of legal structures of M&A transactions,compares relevant laws and regulations,introduces the concepts of friendly and hostile takeovers as well as their standard procedures and timeframes,describes anti-takeover legal systems and lists out regulatory authorities involved in supervision of M&A of listed companies.What is more,this paper also summarizes the situation of foreign investors in both countries and eventually puts forward mutual improvement and promotion suggestions in belief of the rule of law.To raise the credibility of the statements included in this paper,each situation or concluding remark pointed out and described herein is accompanied by literature review on which basis such conjectures were built on.As the topic has not been previously studied,this paper can fill in the respective gaps in this research field.In five chapters of this thesis,the reader can find most distinct differences of M&A legal systems in China and Poland as well as understand the meaning of mutual improvement and promotion suggestions put forward in line with the thought of the rule of law.