【作者】 蔡小波；

【导师】 石先钰；

【作者基本信息】 华中师范大学 ， 民商法学， 2008， 硕士

【摘要】 在现代公司股权结构分散化、多元化的趋势下,股东大会的形态已经由最初的股东亲自出席、讨论议案的形式转化为委托他人代理出席、代为投票再到委托书征集的过程。委托书征集与公司并购一起成为公司控制权争夺的重要方式。委托书征集制度在英美等国家被认为是公司外部治理的一种有效机制。目前,美国、德国、日本等世界主要发达国家以及我国台湾等地区均普遍建立起该制度。二十世纪90年代以来,委托书征集的自发实践在我国证券市场不断上演。上市公司委托书征集规模大、影响广,但是我国专门调整委托书征集的法律规范基本上仍处于空白状态。有关的理论研究也是刚刚起步,缺乏系统全面的研究。作为一项“缺乏规则的游戏”,我国委托书征集效果难遂人意、实践操作不一,难以发挥其应有的法律功效。近年来,我国证券市场上发生了多起委托书征集事件,一度引起投资者和监管部门的关注,与证券市场的这一制度创新相比,我国立法相对滞后,尚缺乏相应地法律规范。因此,本文在探讨了委托书征集的相关理论与实践问题后,建议我国立法适时做出回应,以适应证券市场中这一有益的实践创新。全文除了引言和结语外共分为三个部分。第一部分,介绍了委托书征集的基本理论。首先,概括阐述了委托书征集制度的概念;其次,介绍加拿大、美国、我国台湾地区立法对“征集”的规定;最后,评析了该制度的优劣。第二部分,对委托书征集制度在我国的运行情况进行了考察,进而总结出影响委托书征集制度在我国正常运行的原因——我国股权结构问题和我国立法存在严重的缺陷。从股权结构、征集行为、征集人资格、征集程序、违反委托书规则的法律责任五个方面来对我国委托书征集制度中存在的问题进行分析。第三部分,提出了完善我国委托书征集制度立法应该遵循的原则——公平竞争、信息公开、防止权利滥用三原则。从征集行为、征集人资格、征集程序、违反委托书规则的法律责任提出完善我国委托书征集立法的具体构想。其中,对征集人资格界定问题上,介绍了美国、我国台湾地区、意大利等的立法规定,并提出对征集人的资格应从积极和消极两个方面进行界定。更多还原

【Abstract】 With the trend of diversification of the stock structure in the modern company, the form of shareholder’s attendance at general meeting has already transformed from presenting himself into entrusting other people to attend and vote, and then changed into proxy solicitation. Nowdays, proxy solicitation has become an important way to contest the management control of the company together with M&A. The legal mechanism of the proxy solicitation has been an effective mechanism in outside governance systems in the United Kingdoms and the United States. Now developed countries and areas such as the United States, Germany, and Japan and Taiwan in China have also put this legal mechanism into effect. Since 1990s’, the practices of the proxy solicitation occurred in China. This activity has brought great impact in the capital market, unfortunately however, there are little regulations over it in China. The academic research on this issue is also on a beginning stage. Being "a game without rules", the proxy solicitation results in poor performance in China.Besides the preface and the conclusion, this article includes three parts.Part one is the basic theories for proxy solicitation. First, it introduces the concept of proxy solicitation .Then introduces of advanced legislation of the proxy system in variou countries and region. The latest the advantage and disadvantage of proxy solicitation are also been analyzed.Part two, it explores the functions of proxy solicitation in our country, and pionts out two problems(structure of equity and defect of law in our country) in the practice of the proxy system.Part three, it suggests three principles to improve the legislation of proxy solicitation in our country, and proposes the specific suggestions to our proxy system from four aspects.更多还原