Research On The System Of Different Rights Of The Same Shares In Scientific Innovation Board

With the deepening of the fourth industrial revolution wave,more and more internet-related enterprises choose to issue AB dual-share structure stock listing.China's alibaba through the company internal structure of the partnership system,tencent through the "major shareholder endorsement" model disguised "unequal voting rights" of the stock issue.This essentially reflects the transformation of the corporate governance system from the original shareholder center to a global transformation trend with entrepreneurs as the core.In terms of the ownership structure,it is reflected in the transformation from the same share and the same right to the same share and different rights.It is under this kind of influence that the scientific innovation board was born.For the financial capital market,there is a great rationality and development of different rights with the same stock.It can be rationalized in terms of corporate financing channels and corporate control,but we also need to guard against the situation of "one dominant company" caused by the highly strengthened corporate control brought by the same shares and different shares.This article in view of the present conditions of legislation in our country,from kechuang plate structure with different rights and the historical evolution,a detailed analysis with different right system of the design concept,influence factor,system value,adverse effects,combining relevant case facts and the United States,Germany and other foreign related legislation,basically on how to improve the system of stock with different rights and development put forward some opinions and ideas of legal regulations.In order to avoid harm.The first part is an overview of different rights of the same shares.Starting from the concept of different rights in the same share,this paper introduces its ups and downs development process,expounds the relevant provisions of the company law on "different rights in the same share",and fully understands the institutional environment of "different rights in the same share".The second part is the theoretical basis of different rights of the same shares in the scientific innovation board,which is also the focus of this paper.The corporategovernance system has changed from the traditional shareholder center to the entrepreneur center.From the design concept,influencing factors,system value and negative effects of the system,I expounded the theoretical basis of different rights of the same shares of the board.This has the very good guidance function to the scientific innovation board same share different rights stock structure design.The third part is about the birth of the scientific innovation board and the necessity of different rights of the same shares.The implementation of the "same shares and different rights" ownership structure is the biggest breakthrough of China's pilot science and innovation board.In the face of the changing economic market at present,we cannot remain unchanged,but must follow the pace of The Times and change in due time.Through the analysis of the background of the birth of kechuang plate and development process,comparing the a-share listed the related system,specific analysis kechuang plate in the capital markets related to exploration and attempt,from the perspective of class kechuang enterprise financing and leishi lighting equity case analysis with different rights for the necessity of kechuang class enterprise.The fourth part is the practice of overseas listing of China's scientific and creative enterprises.This article selects the alibaba,jingdong,baidu three kechuang enterprise as an example,from the path of the development of three companies and equity structure configuration,and combining with the domestic capital market environment under the premise of depth understanding of three companies for the listing of He Yuan went to the United States and outside successful experience,provide enlightenment to our country the system design.The fifth part is about the regional and national provisions on the same share of different rights.Through the introduction of the system of "different rights with the same shares" in relevant regions and abroad,this paper tries to make it a useful reference for the construction of the system of "different rights with the same shares" in China's science and innovation board.The sixth part of the content is the development and improvement of different rights with the relevant recommendations.On the basis of the foregoing content,thispaper puts forward relevant targeted Suggestions,which are more conducive to the development of the system of "same shares and different rights" of China's science and innovation board,the improvement of the basic system of the capital market,and the promotion of high-quality development of enterprises.