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Legal Remedies For The Damages Of Listed Companies Which Caused By Related Party Transactions

Posted on:2020-05-20Degree:MasterType:Thesis
Country:ChinaCandidate:Y NieFull Text:PDF
GTID:2416330572489761Subject:Civil and Commercial Law
Abstract/Summary:PDF Full Text Request
In recent years,related party transactions are becoming more and more common among listed companies in China.Due to the existence of regulatory measures such as information disclosure of listed companies prescribed by regulatory agencies,the information about related party transactions of listed companies is easier to collect and analyze.Therefore,the article mainly focuses on the legal remedies for the damages of listed companies caused by improper related party transactions.Firstly this paper analyzes the theories and regulation methods about the concept of related party transactions in and out of the domain.Then examines the regulations of the existing laws and industry regulations.It also studies the current situations and the general characteristics of judicial adjudication about related party transactions of listed companies in China.Finally,the author makes improving suggestions about the legal remedies for the damages of listed companies caused by related party transactions in China.The article is divided into four parts:The first part analyzes the main theories about the relief of damages caused by related party transactions.Firstly,it expounds the definition and understanding of the related party transaction concept in combination with all kinds of regulations and theories inside and outside the domain.Secondly,from the angles of standpoint of legal relief of transaction damage,procedural fairness and substantive fairness,this part classifies the relief practice and theoretical conception of the relevant provisions within and outside the territory when related transactions damage the interests of listed companies.And the specific practices and theoretical results which are worthy of reference are also analyzed.The second part analyzes the reality of related transactions of listed companies in China,including the analysis on the changes of the number and trading volume of listed companies in China;the analysis of related trading volume and main trading types of listed companies in recent years.Finally,analyzes the impact of related transactions on the interests of listed companies.And this part focuses on the analysis of the negative impact of improper related transactions,and classifies the types of interests damages suffered by the listed companies,which shows the realistic necessity of perfecting the legal relief path of related transaction damages.The third part studies the problems existing in legislation and judicature when the related party transaction damages the interests of listed companies.The main contents are as follows: combining with the practical problems existing in the judicial adjudication of our country,combed the relevant provisions of the present Company Law,the Securities Law,and the Civil Law in China.It also analyzes the fact that the concept of related transaction is not clear and systematic,the criterion of fairness judgment is too extensive,the application of law is lack of predictability,and the way of imputation is not perfect and so on.The fourth part,based on the above analysis,draws lessons from the internal and external regulations and theories,and puts forward some improving suggestions to the legal relief of the damages caused by related party transactions.First of all,it is suggested to systematize the identification of related party transactions,and supplement the procedural review standards and procedural remedies for the reasonableness of related transactions of listed companies.Secondly,the paper puts forward some suggestions on the substantive judgment standard about transaction rationality,and puts forward the classification of improper related transactions according to the types of benefit damage,which can more generalize the complex and changeable related party transaction types.Finally,it is advocated to straighten out all kinds of regulations on related transactions and attach importance to the disclosure of related transaction information of listed companies,etc.Then combining the procedural review with the substantive review criteria for the measurement of the actual interest relationship,and build the construction of the legal relief mechanism by measuring the degree of damage to the benefit.It is suggested that the legal relief ways of related transaction damage to listed companies should be systematically stipulated at the legal level,and also gave analysis and suggestions about the liability imputation path of damages caused by related party transactions.
Keywords/Search Tags:Listed Company, Related Party Transaction Damage, Judgment Standard, Liability
PDF Full Text Request
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