On Legal Regulation of Occupying the Funds of Listed Corporation by Major Shareholders
|School||Southwest University of Political Science|
|Keywords||Major shareholders Use of funds Legal Regulation|
In China's listed companies, major shareholders of listed companies to use their controlling position, capital occupation, damage to the company, the interests of minority shareholders, creditors and even common occurrences. Occupation by large shareholders academic research funding is often limited to the level of government regulation. Should these large shareholders and creditors of the company to the other shareholders of civil liability? How to assume responsibility? For such problems, China's current laws do not clearly defined. This paper attempts from the company, the interests of minority shareholders and creditors to protect the interests of the perspective of a reasonable regulation largest shareholder funds of the Company conduct preliminary ideas. Paper is divided into an introduction, body and conclusion of three parts, totaling 10,008 thousand words. Which text is divided into three parts: The first part is the majority shareholder capital occupied by the meaning and manner of behavior are introduced. First introduced jurisprudence will occupy a large shareholder of company funds into narrow and broad concepts, the paper adopted broad concept. Secondly, according to whether the conduct of practical use of funds transaction basis, accounting for capital generalize the behavior of two ways, namely, direct and indirect share capital appropriation of company funds. Finally, the use of funds by analyzing the behavior, summarized the major shareholder capital occupied nature of the act, which launched its should bear legal responsibility. The second part analyzes the major shareholders of listed financial problems occupancy status, harmfulness and its causes. A large number of actual cases and statistics show that China's current major shareholder capital occupied seriousness of the problem and its dangers. Through multi-angle analysis of the issue, I believe that Big Shareholders arises because: The current regulatory capital occupied by major shareholders normative documents rank low, narrow scope of application, rules crudeness, the lack of specific operational civil liability requirements, leading to major shareholders funds act as illegal occupancy costs low; largest shareholder fiduciary duty to minority shareholders missing; largest shareholder interests conflict with the interests of minority shareholders. Thus, the author proposes a major shareholder with legal regulations act envisaged use of funds. The third part is how to regulate the behavior of major shareholders funds occupy specific ideas. I believe that should be engaged in pre-and post-relief mechanism to prevent two aspects of the use of funds by major shareholders conduct regulation. Advance prevention efforts, China's \Later relief, should improve the capital occupied by major shareholders in civil liability related personnel and existing civil litigation system and strengthen supervision.