On The Civil Relief Of The Legal Rights And Interests Of Small And Medium Shareholders Of Listed Companies' Compulsory Delisting

The stable operation of the securities market can better optimize the allocation of various resources in the society,and the trading behavior of both parties to the transaction is also an important guarantee for the orderly operation of the capitalist securities market trading systemin China.Among them,the protection of the rights and interests of small and mediumshareholders,especially the civil relief systemfor the legal rights and interests of small and mediumshareholders,is the core of the successful development of the securities market in many countries.The start-up and development of China's securities market is relatively late and backward compared to developed countries in Europe and America.There are also many deficiencies in the relevant development mechanismand the civil relief system for the protection of the rights and interests of small and mediumshareholders,which makes many listed companies' legal rights and interests in the process of rrandatory delisting It is often violated by listed companies and large shareholders.How to better improve the civil remedy systemfor the protection of the legal rights of small and mediumshareholders by the compulsory delisting of listed companies in our country and reduce the various risks that small and mediumsharehdders are prone to in the process of for ced delisting solved problem.Apart fromthe introduction and conclusion of this thesis,the main body of the paper is divided into four chapters.The first chapter is mainly about the basic systemof compulsory delisting of listed companies in China and the protection of the legal rights of small and mediumsharehdders;the second chapter focuses on the analysis of China The current status and main problems of the civil relief systemfor listed companies' compulsory delisting of minority shareholders' rights and interests Enlightenment;The last chapter is a synthesis of all the above analysis and proposes ways to improve the civil remedy systemfor the legal rights and interests of minority shareholders of listed companies in China.The details are as follows:The first chapter is an over view of the basic systemof compulsory delisting of listed companies and the protection of the rights of small and mediumshareholders.It mainly introduces the concept of compulsory delisting of listed companies,the legal basis for compulsory delisting and the significance of compulsory delisting,including:improving the capital market,Cptimize resource allocation,promote survival of the fittest,and improve the over all quality of listed companies.Immediately after wards,the author introduced the rationale for the protection of the rights and interests of small and mediumsharehdders who are delisted from listed companies in China.The theoretical basis mainly includes:the principle of fairness and order,etc.The practical significance mainly includes promoting the nor malization of the mandatory delisting mechanismof listed companies and maintaining the orderly operation of China's economic and social order.The second chapter is about the status quo and problems of the development of the civil relief systemfor the compulsory delisting of small and medium sized shareholders' rights and interests in China's listed companies.In the second section of Chapter 2 the author deeply analyzes the main problems and deficiencies in China's current civil relief system for the protection of the legitimate rights and interests of small and mediumshareholders during the mandatory delisting of listed companies.The third chapter is a mirror of the civil relief system for compulsory delisting of small and medium sharehdders' legitimate rights and interests of listed companies outside the territory.The author inspected and analyzed the experiences and patterns of the United States,Britain,Germany and Taiwan,and combined with China's specific national conditions,summed up some experiences and enlightenments that are worth learning and learning fromThe fourth chapter is the conception and suggestions on the improvement of the civil relief system for the legal rights and interests of small and mediumshareholders whose listed companies are compulsoryly delisted fromChina.Through the analysis and combing of all the contents in the first three chapters of this article combined with China's existing laws and regulations and the actual situation,some practical path choices are proposed.The author tends to believe that the in for mation disclosure systemof listed companies in the mandatory delisting will be further strengthened first,and the civil compensation systemof China will continue to be improved.Once again,it is necessary to continue to build a normalized pre-payment mechanism for interrmediaries.Why should inter mediaries go first?Pay?What is rationality and legitimacy?How should the specific system of intermediary agencies'advanced compensation be designed?In the end,the author believes that it is necessary to work hard to establish an efficient securities civil compensation litigation system in accordance with China's actual national conditions to better perfect the civil remedy system for the legal rights and interests of small and mediumshareholders whose listed companies are compulsorily delisted.