Research on Legal Regulation of Company Cross-ownership
|Keywords||Cross-shareholding Comparative reference Legal regulation|
Cross-shareholdings between companies is the market economy develops to a certain stage. With the development of market economy, solely by a natural person investors as the company no longer return times, more and more companies replace the natural, become investors in other companies. As a result, each corporate shares held by each other more and more common phenomenon.The so-called cross-shareholdings between companies, also known as cross-shareholdings or cross-shareholdings, refers to two or more separate companies through mutual investment, The shares held by each other, and then form a mutual support and co-restriction form.Since 1999, Liaoning Chengda and Guangfa holding each other after the case of cross-shareholdings between companies become increasingly common, caused by the problems of cross-shareholding has become more academic and practice sectors to become the focus of attention. However, China lags behind the relevant legal norms, mutual holding company legislation is nearly blank, urgent need to fill with sound. Therefore, the need for the phenomenon of cross-shareholdings between companies to pay sufficient attention to actively study the relevant issues.In this paper, ST occurred in July 2003, the Company and Guizhou of sand between the public company holding the case, for example, from the perspective of improvement of legislation, the main use of semantic analysis, value analysis, comparative research method, empirical analysis to study the issue.The full text of five chapters.Chapter I The basic legal principle of mutual shareholding company. Cross-shareholdings, respectively, the company explained the meaning, types and causes.Chapter II Pros and cons of corporate cross-shareholdings. Mutual holding company both positive and negative sides of different effects, therefore, neither has the advantage because of the laissez-faire attitude to them, nor because there are many drawbacks and a comprehensive ban.ChapterⅢForeign companies and the practice of cross-shareholdings between the legal regulation of the comparison and reference. Legal regulation, the common law and civil law to take a very different attitude. Regulation of the different attitude and approach is the product of different circumstances. Therefore, China’s national conditions should be the basis of the analysis, drawing on experience of other countries, the establishment of the legal system with China’s characteristics.ChapterⅣEstablishment of cross-shareholdings between companies the legal system in China. First, China’s legislation on the company’s requirements and the lack of cross-shareholdings.Second, under existing law to seek an entry point. The existing legal system in the existence of such a number of systems, they are not against the company and set up cross-shareholdings, but in essence, the relief can play a role, it should give full play to the role of these systems. Third, a mutual holding company laws of Regulation System. To be both micro and macro give advice on the macro aspects of the legal regulation proposed guidelines, basic principles; the micro from the parent companies, non-parent companies, supporting measures put forward three levels of system solutions.Chapter V Conclusion.