上市公司关联交易的法律规制研究

【作者】 唐智宏；

【导师】 王远明；

【作者基本信息】 湖南大学 ， 经济法， 2003， 硕士

【摘要】 关联交易是伴随着公司制企业的发展和公司治理结构的演变而产生的。关联交易具有促进企业规模经营、降低成本、提高企业市场竞争力等功能，在实践中得到广泛应用，也为各国法律所认可；然而，由于关联方之间存在特定的利益关系，关联交易不可避免地产生交易上的不公平，从而给其它利益主体(如中小投资者、债权人)造成损害，因而又受到法律的严格限制。我国的国有企业在改制上市的过程中，由于传统体制的原因，形成了错综复杂的关联关系，从而使关联交易在上市公司中表现得非常突出。本文以规制关联交易、防范不正当关联交易为线索，以保护上市公司中小股东利益为出发点，参照各国已有的法律制度，重点对控股股东与上市公司的关联交易和董事抵触利益交易两类关联交易的法律规制进行分析和探讨。 文章共分四个部分。第一部分对关联交易进行法律界定并阐述了其法律特征；第二部分对我国上市公司关联交易的现状进行了实证分析；第三部分逐一分析和探讨了规制控股股东与上市公司关联交易的若干制度，包括股东大会批准制度、股东表决权排除制度、类别股东大会决议制度、股东表决权的限制制度、独立董事制度、信息披露制度、股东大会决议的撤销、无效之诉制度、股东派生诉讼制度和异议股东的股份回购请求权制度等；第四部分对董事与上市公司关联交易的法律规制进行了比较分析，并对我国的公司法提出立法建议。更多还原

【Abstract】 With the development of corporation and corporate structure, cognate trade happened. Cognate trade becomes wide-ranging and is allowed by law because it can accelerate corporate management, reduce trade costs and promote corporate competitions. But, as it exists conflict of interests and must lead to unfair in trade, cognate trade impairs other interest subject and is restricted strictly by law. Because of traditional system, there are cognate relation in complicated state-owned enterprises and cognate trade widely in listed company. The article, adopting the approach of comparative law, reviews and analyzes how to standardize unfair cognate trade in order to protect the interest of middle and small shareholder in listed company, and in it the major analyzes the cognate trade between the controlling shareholders and the listed company and the trade of the director’s conflict of interests.The article consists of four parts besides a preface. Part I reviews the definitions and features of cognate trade in law. Part II analyzes the situation of cognate trade in Chinese listed company positively. Part in analyzes inquires into the systems to standardize cognate trade between the controlling shareholders and the listed company, including the approving system of general meeting of stockholders, the excluding system of stockholders’ voting power, the decision system of general meeting of classified stockholders, the restricting system of stockholders’ voting power, the system of independent director, the disclosure system of information, the action system of the approving of general meeting of stockholders, the system of shareholders’ derivative suits and the claiming system of disagreemental stockholders’ buybacking stock. Part IV analyzes comparatively the standardization of the trade of the directors’ conflict of interests in law, and puts forward some proposals and suggestions of amending companies law based on the actual circumstance of PRC.更多还原