Research On The Protection Of The Rights And Interests Of Small, Medium And Small Shareholders In The Reverse Acquisition Of Listed Companies

The development of China's market economy led to the development of capital market,as of October 2016,China's domestic listed companies have reached 2977,listed companies in the capital market through the acquisition and anti-takeover capital operation.The general approach taken by listed companies to deal with hostile takeovers in capital markets is anti-takeover measures.China's capitalist market in the 90 s of last century because of reform and opening up has been a strong development,one of the most noteworthy changes in the economic operation as an important means to adjust the effective allocation of social resources in China's development year after year.As the results of mergers and acquisitions are often accompanied by changes in the right to operate,the company's business and development will inevitably have a significant impact,so how to balance the company itself,corporate shareholders,corporate creditors and employees of the company's rights and interests can not be ignored important issues.There are many measures for the anti-takeover of listed companies,but the impact of the interests of the minority shareholders in the anti-takeover is often easy to be ignored by the listed companies,anti-takeover in the process of taking different anti-takeover measures,the interests of small shareholders is also different.The protection of minority interests in the process of mergers and acquisitions in the company at a disadvantage,small and medium shareholders because of their own scattered rights and interests in the infringement can not be timely and effective communication,put forward countermeasures,the current law on minority shareholders protection and relief is also very limited,Small and medium-sized shareholders in the way of the right to spend not only spend more time and energy,relative to the results are not very satisfied.In this paper,the protection of minority shareholders 'rights in anti-takeover of listed companies is taken as the research object,and puts forward their own opinions on the protection of minority shareholders' rights in the anti-takeover of listed companies in China.The first chapter is the analysis of the protection of minority shareholders' rights in the anti-takeover of listed companies in China,which defines the meaning of anti-acquisition of listed companies and the understanding of the weak position of minority shareholders in anti-takeover.This paper discusses the performance of the conflict between the acquirer and the target company,the target company and its shareholders,the controlling shareholder and the minority shareholders.Which formed the basis of this argument.The second chapter is the study of foreign anti-takeover system.This paper analyzes the attribution model of the decision-making power of the foreign capitalist countries in the anti-takeover of the minority shareholders' rights and interests,compares the internal causes and similarities and differences between the anti-takeover measures in each country,and tries to analyze the anti-takeover measures commonly used in foreign countries The impact of the use of the rights and interests of small and medium-sized shareholders in China,for the construction of related systems in China to provide some inspiration.The third chapter analyzes the advantages and disadvantages of anti-takeover measures and the applicability in China from the perspective of the protection of minority shareholders' rights and interests.Finally,this paper discusses the lag of China's anti-takeover legislation so that the rights and interests of small and medium-sized shareholders in China can not be effectively protected in the anti-takeover.Therefore,we should strengthen the anti-takeover legislation on the basis of the protection of small and medium-sized shareholders,Perfecting the Protection and Relief of Minority Shareholders 'Rights and Interests in China' s Anti-takeover.