On Disposal Of Pulic Companies' Own Shares

The acquisition and disposal system of the listed company's own shares is one of the important systems in the company law and a common capital operation method in the foreign mature capital market.In terms of the company law of the People's Republic of China(hereinafter referred to as the "company law"),which was recently amended in China,the conditions for acquiring their own shares are further relaxed.However,from the existing research,the legislative and academic attention in China is still focused on the acquisition stage,and there is little discussion on how to dispose of one's own shares.If there is no regulation on the punishment,it is easy to cause the company principal to abuse the punishment and lead to unfair punishment and transaction,thus damaging the interests of the existing shareholders and related subjects.Therefore,it is necessary to establish a perfect stock disposal system to cooperate with the stock acquisition system and promote the upward development of China's capital market.This paper,by means of comparative research,investigates and analyzes the foreign mature self-share disposal modes and relevant cases,discusses the self-share disposal system of listed companies in China,and puts forward Suggestions on improving the self-share disposal system of listed companies in China.The text is divided into four chapters,the main structure is as follows:The first chapter is about the disposition system of the listed company's own shares.In the first part,the research object of this paper is defined by the definition.The second part,if the proper disposal of its own shares will achieve the original intention of the company to obtain its own shares.The second chapter of the comparative law under the vision of their share system.The first is the introduction of two different disposal modes outside China.Secondly,through the further comparative analysis of the disciplinary regulations.The third chapter is the legislation and practice of our own share disposition regulation.Firstly,the author makes a longitudinal analysis of the history.Secondly,the horizontal analysis of the current legislative status.Finally,the data and cases related to share repurchase own share system.The fourth chapter is suggestions on the perfection of our own share disposition system.This paper points out that there are still some deficiencies in the stock disposal system of listed companies in China,and puts forward some Suggestions on the establishment of the stock disposal system of listed companies in China...