【作者】 芦珊；

【导师】 张文楚；

【作者基本信息】 华中科技大学 ， 法律， 2010， 硕士

【摘要】 上市公司对外担保的行为不仅能够降低交易成本,保障债权的实现,也能够有效地促进资金的融通和资源的优化配置。与此同时,它也可能会导致上市公司经营状况的恶化、加大市场风险并损害股东或债权人的利益。从我国上市公司对外担保的历史来看,经历了初始萌芽阶段;上市公司沦为大股东的“提款机”阶段;担保圈、担保链的形成阶段;为子公司提供担保阶段;关联担保持续,担保总额上升阶段。从目前的现状来讲,对外担保存在的问题主要有涉及担保的上市公司数目多、担保金额大;违规担保现象突出;违规担保信息披露滞后;上市公司对外担保中担保圈、担保链的现象依然严重;变相担保行为层出不穷。诸多问题存在,这都与我国对外担保相关法律法规不够完善、股权结构不合理、公司法人治理结构不健全、对违规公司及相关人员的惩罚力度不够不无关系。本文从公司法的角度对上市公司对外担保制度进行研究,并在一定程度上对英美法系和大陆法系上市公司对外担保这一问题的立法现状进行了阐述。在我国,虽然现行的公司法(包括证监会、银监会相关规章)对上市公司对外担保的问题进行了较为详尽的规定,并起到了较有成效的作用,但是仍然没有从根本上解决这一问题。所以笔者认为应从完善相关法律规定,完善董事会、监事会和独立董事制度,强化担保的信息披露,加大对违法担保的处罚力度这几方面来解决目前上市公司对外担保中所存在的问题。更多还原

【Abstract】 External security of the listed company can not only reduce the transaction costs and guarantee the creditor’s rights realization, but can promote effectively financing and the optimal allocation of resources. At the same time, it may also lead to the deterioration of operating conditions in listed company and increasing market risk and undermining the interests of shareholders or creditors. From the history of external security of the listed company, it has experienced that major shareholders of listed companies be reduced to an "ATM" phase, the formation stage of security circles, the security chain, guarantee phase for subsidiaries, associated guarantees sustaining and rising in total security phase. From the current status, problems in external security are mainly related to the number of listed companies secured and large amount of the security, the phenomenon of non-compliance guarantee outstanding, violation warranty information disclosure lags behind, the phenomenon of security circles, the security chain is still serious, a disguised secured act after another. So many problems are exist, they are relevant to laws and regulations which is inadequate, irrational in equity structure, not perfect corporate governance structure, not enough penalties for companies which is irregularities and relevant personnel.In this paper, from the perspective of company law to study the external security system, and, to some extent, legislation of this issue of external security situation in common law and civil law systems is described. In our country, while the existing company law (including the SFC, the China Banking Regulatory Commission the relevant rules and regulations) on the listed company’s external security problems has more detailed provisions, and has played a more effective role, but still there is no fundamental solution to this problem. So, I think it should improve the relevant laws and regulations, improve the system of the board of directors, the board of supervisors and the independent directors, strengthen the security of information disclosure, increase penalties on illegal security in these areas to resolve the current in the listed company’s external security problems.更多还原