本文選題：類別股 + 一股一權(quán)和同股同權(quán)原則��； 參考：《南京大學(xué)》2017年碩士論文

【摘要】：股權(quán)是股東通過(guò)出資獲得的對(duì)價(jià)。股東通過(guò)股權(quán)行使表決權(quán),并獲得財(cái)產(chǎn)性權(quán)利,股權(quán)實(shí)際上是股權(quán)的子權(quán)利組成的權(quán)利束。我國(guó)《公司法》通過(guò)一股一權(quán)和同股同權(quán)原則將股權(quán)的表決權(quán)和財(cái)產(chǎn)性權(quán)利等比例切割形成標(biāo)準(zhǔn)的股份,使股權(quán)的子權(quán)利不能依據(jù)股東的不同偏好進(jìn)行分離組合。類別股突破了單一普通股的格局,將股權(quán)中的表決權(quán)和財(cái)產(chǎn)權(quán)依據(jù)股東的不同偏好進(jìn)行分離組合,其在普通股的基礎(chǔ)上對(duì)表決權(quán)和財(cái)產(chǎn)性權(quán)利一項(xiàng)或幾項(xiàng)進(jìn)行擴(kuò)張或限制,有利于公司融資,滿足投資者多樣化的投資需求,穩(wěn)定公司經(jīng)營(yíng)權(quán)等諸多實(shí)踐價(jià)值。而我國(guó)長(zhǎng)期以來(lái)實(shí)行單一的普通股制度,無(wú)法滿足資本市場(chǎng)發(fā)展的需求。2005年百度公司作為第一家采用雙重股權(quán)結(jié)構(gòu)在美國(guó)上市的中國(guó)公司,引起境內(nèi)互聯(lián)網(wǎng)創(chuàng)新型公司紛紛效仿去國(guó)外上市。經(jīng)濟(jì)需求必將推動(dòng)上層建筑等制度的變遷與更新,國(guó)務(wù)院于2013年11月30日出臺(tái)了《國(guó)務(wù)院關(guān)于開展優(yōu)先股試點(diǎn)的指導(dǎo)意見》,14年證監(jiān)會(huì)出臺(tái)《優(yōu)先股試點(diǎn)管理辦法》使優(yōu)先股的法律地位得到確認(rèn),也標(biāo)志著我國(guó)類別股制度向前邁出重要一步。但是我國(guó)《公司法》尚未明確規(guī)定類別股,并且《公司法》規(guī)定一股一權(quán)和同股同權(quán)原則所確立的單一普通股格局仍沒有實(shí)質(zhì)性突破。筆者通過(guò)公司合同理論,即公司的實(shí)質(zhì)是一系列合同的聯(lián)結(jié),公司參與各方受合同法的保護(hù),由于公司合同的長(zhǎng)期性和不完備性,公司法應(yīng)運(yùn)而生,通過(guò)公司法規(guī)則對(duì)公司參與各方的予以保護(hù),討論了一股一權(quán)和同股同權(quán)原則的局限性--不利于實(shí)現(xiàn)股東的實(shí)質(zhì)平等,制約了公司的意思自治,限制股權(quán)的權(quán)利束分離組合,并結(jié)合域外法國(guó)家和地區(qū)的立法和案例,指出我國(guó)目前立法實(shí)踐的不足和缺陷,為我國(guó)的類別股制度構(gòu)建提供具體的建議。文章分導(dǎo)論、正文和結(jié)語(yǔ)三大部分,導(dǎo)論通過(guò)案例提出我國(guó)單一普通股制度存在的相關(guān)問(wèn)題。正文分為三個(gè)部分,第一部分對(duì)類別股進(jìn)行概述,具體闡述了類別股的概念、類型(對(duì)表決權(quán)方面進(jìn)行特殊安排的類別股、對(duì)收益權(quán)方面進(jìn)行特殊安排的類別股及其他類型)和功能(滿足公司融資的需要、順應(yīng)投資者多樣化的需求、穩(wěn)定公司控制權(quán)和推進(jìn)公司法相關(guān)制度的發(fā)展),著重介紹了類別股的功能,為后文的論述做鋪墊。第二部分主要是對(duì)類別股呈現(xiàn)同股不同權(quán)進(jìn)行辨析,指出我國(guó)一股一權(quán)和同股同權(quán)原則的局限性—不利于實(shí)現(xiàn)股東實(shí)質(zhì)平等,阻礙公司意思自治和限制股權(quán)的子權(quán)利的分離組合。并結(jié)合域外法國(guó)家通過(guò)立法對(duì)一股一權(quán)和同股同權(quán)原則進(jìn)行例外規(guī)定,指出我國(guó)類別股立法的不足及原因。第三部分,介紹類別股的中國(guó)選擇。結(jié)合域外法國(guó)家的立法實(shí)踐提出我國(guó)類別股制度構(gòu)建的具體建議。
[Abstract]:Equity is the consideration that shareholders obtain through capital contribution.Shareholders exercise their voting rights through equity and acquire property rights, which is actually a bundle of rights composed of sub-rights of equity.According to the principle of "one share, one right" and "same share and same right", the Company Law of our country cuts the voting rights and property rights of equity into standard shares, so that the sub-rights of equity can not be separated and combined according to the different preferences of shareholders.Category shares break through the pattern of single common stock, separate voting rights and property rights according to different preferences of shareholders, and expand or restrict one or more items of voting rights and property rights on the basis of common shares.It is beneficial to corporate financing, to meet the diversified investment needs of investors, to stabilize the company management rights and many other practical values.However, for a long time, China has implemented a single common stock system, which cannot meet the needs of the development of the capital market. In 2005, Baidu Company was the first Chinese company to adopt a dual equity structure to list in the United States.Causes the domestic Internet innovation company to emulate to go abroad to list one after another.Economic demand will certainly promote the change and renewal of superstructure and other institutions.On November 30, 2013, the State Council issued the guidance of the State Council on the pilot of preferred stock, and in 14 years, the Securities Regulatory Commission issued the measures for the Administration of preferred Stock pilot, which confirmed the legal status of preferred stock.It also marks an important step forward in China's class stock system.However, the Company Law of our country has not clearly stipulated the category of shares, and the single common stock pattern established by the principle of "one share, one right" and the principle of "one share, one right" and the principle of "same share and equal right" has not yet made a substantial breakthrough.Through the theory of company contract, that is, the essence of company is the connection of a series of contracts, the parties involved in the company are protected by the contract law. Because of the long-term and incomplete nature of the company contract, the company law emerges as the times require.This paper discusses the limitation of the principle of "one share, one right" and "same share and same right", which is not conducive to the realization of the substantive equality of shareholders, restricts the autonomy of the company's will, and restricts the separation and combination of the right bundle of the stock right, through the protection of all parties involved in the company by the rules of company law.Combined with the legislation and cases of foreign countries and regions, this paper points out the shortcomings and defects of our country's current legislative practice, and provides concrete suggestions for the construction of the system of category shares in our country.This article is divided into three parts: introduction, text and conclusion. The introduction points out the related problems of our country's single common stock system through cases.The text is divided into three parts, the first part is an overview of the category stocks, the specific description of the concept of category stocks, types (special arrangements for voting rights in the category of shares,Types of shares and other types of special arrangements for income rights) and functions (to meet the needs of corporate financing and to respond to the diversified needs of investors,In order to stabilize the control rights of the company and promote the development of the company law related system, the paper introduces the function of the category shares and paves the way for the later discussion.The second part mainly analyzes the different rights of category shares, and points out the limitation of the principle of "one share, one right" and "same share right" in China, which is not conducive to the realization of substantive equality of shareholders.Separate combinations that block the autonomy of the company's will and restrict the rights of its children.Combined with the exception of the principle of "one share, one right" and the principle of "one share, one right" through legislation in foreign countries, this paper points out the deficiency and reasons of the legislation of category shares in our country.The third part introduces the choice of China.Combined with the legislative practice of foreign countries, this paper puts forward some concrete suggestions on the construction of China's category stock system.
【學(xué)位授予單位】：南京大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2017
【分類號(hào)】：D922.291.91
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本文編號(hào)：1732697