| The innovations and breakthroughs of the various systems of the Science and Technology Board have a profound impact on China’s corporate law and securities law,and also put forward a series of new topics for the governance of listed companies on the Science and Technology Board.Therefore,studying the governance of listed companies on the Science and Technology Board not only provides a reference for the governance of listed companies on the Science and Technology Board,but also has a very important significance for the establishment of China’s capital market and the development of innovative new companies.This article starts with the science and technology board,elaborates the positioning and characteristics of the science and technology board market,and explores the theoretical value and practical significance of the governance of listed companies on the science and technology board.By studying the current status of listed companies on the Science and Technology Board,using a comparative analysis method,comparing with other boards such as the Main Board and the Growth Enterprise Board,to find out the characteristics of the companies listed on the Science and Technology Board,carefully explaining the governance rules of the listed companies on the Science and Technology Board,using empirical research Methods to find out the problems existing in the shareholding structure,governance structure,voting rights difference system,and delisting system of listed companies on the Science and Technology Board,so as to provide opinions and suggestions for improving the governance of listed companies on the Science and Technology Board,such as: optimizing the shareholding structure,Limit the application conditions of differentiated voting rights,construct an effective delisting system,etc.It provides theoretical and legislative references for the governance of listed companies on the China Science and Technology Innovation Board.Specifically,in addition to the introduction and conclusion,this article includes four parts:The first part introduces the basic theory of listed companies on the Science and Technology Board.Starting from the Science and Technology Board,it analyzes the positioning and characteristics of the Science and Technology Board.The particularity of governance and the value of perfecting the governance of listed companies on the Science and Technology Board.Since this article studies the governance of listed companies on the Science and Technology Board,the theoretical basis for the governance of listed companies on the Science and Technology Board is the cornerstone of full-text research.The second part analyzes the current rules on the governance of listed companies on the Science and Technology Board,sorts out the laws,decisions and rules related to the governance of the listed companies on the Science and Technology Board,studies the "Listing Rules" of the Science and Technology Board,and adopts The listing rules of the Main Board,GEM and other sectors are compared and analyzed,and the special rules of the equity structure,board of directors,board of supervisors,management,voting rights difference system and delisting system of the Science and Technology Board’s "Listing Rules" are summarized.The third part uses empirical research to analyze the five aspects of the ownership structure,internal governance structure,management compliance,voting difference corporate governance and delisting system in the governance of listed companies on the Science and Technology Board.The status quo of listed companies on the board and the rules of comparing the main board and the GEM board,so as to find out the problems of the shareholding structure,internal governance,voting rights difference system and delisting system in the governance of the listed companies of the science and technology board.The fourth part proposes ideas for solving the governance issues of listed companies on the Science and Technology Board,and also puts forward suggestions from the above five aspects: equity structure,internal governance structure,management compliance,voting rights difference system,and delisting system.First,the use of the principle of differentiation Optimize the shareholding structure;second,improve the internal governance structure;third,limit the applicable conditions of the differentiated voting rights system;fourth,build an effective delisting system and improve external constraints. |
