Protection Of The Interests Of Other Shareholders In A Mutual Shareholding Company

Mutual shareholding,which some scholars call cross-shareholding,refers to an interrelated cooperation mode between companies.Scholars at home and abroad divide mutual shareholding into different types according to the number and form of mutual shareholding companies.However,from the perspective of protecting the interests of other shareholders in the company,the division of different types has no practical significance.The phenomenon of mutual shareholding among enterprises in China damages the interests of other shareholders mainly by diluting equity,and then diluting voting rights and dividend rights.However,China's existing system fails to provide a good way to protect the interests of other shareholders.For the protection of other shareholders' interests,we should not treat them differently because of the differences between listed companies and unlisted companies,nor take different measures because of the differences between parent companies and non-parent companies.Instead,we should make uniform provisions on mutual shareholding among companies without distinguishing the types of enterprises and affiliated companies.For the protection of other shareholders' interests in mutual holding companies,we should not restrict mutual holding among companies,but set the mode of distinguishing the equity ratio from the shareholders' interests.Under the mode of allowing mutual shareholding among companies,this paper analyzes the capital formed by mutual shareholding among companies,and achieves the effect of protecting the interests of other shareholders by restricting the exercise of voting rights and dividend rights.