本文關(guān)鍵詞： 協(xié)議控制 VIE結(jié)構(gòu) “弱勢(shì)”外資 法律風(fēng)險(xiǎn)　出處：《暨南大學(xué)》2015年碩士論文　論文類型：學(xué)位論文

【摘要】：我國(guó)企業(yè)海外上市利用VIE結(jié)構(gòu),是為了規(guī)避限制和禁止外資進(jìn)入的法律法規(guī)的規(guī)定,通過分析VIE結(jié)構(gòu),實(shí)施協(xié)議控制,既引進(jìn)了“弱勢(shì)”外資,也規(guī)避了國(guó)家有關(guān)外資準(zhǔn)入限制的規(guī)范。這就是法理上所謂脫法行為,以迂回手段行為規(guī)避強(qiáng)行規(guī)定,以求達(dá)成法律所不許之實(shí)際效果。故,VIE結(jié)構(gòu)從一開始就有是否合法的爭(zhēng)議,進(jìn)而引發(fā)監(jiān)管“松”、“緊”之爭(zhēng)。正是在這種爭(zhēng)論過程中,我國(guó)企業(yè)赴海外上市采用VIE結(jié)構(gòu),從新浪模式開始,從一家發(fā)展到250多家,從互聯(lián)網(wǎng)等新經(jīng)濟(jì)領(lǐng)域迅速滲透眾多產(chǎn)業(yè)和行業(yè),可謂“星星之火”,業(yè)已燎原。VIE結(jié)構(gòu)的大量存在,得益于默許式的監(jiān)管政策。默許式監(jiān)管,的確為我國(guó)互聯(lián)網(wǎng)等科教企業(yè)發(fā)展提供了難得生存空間。問題是,VIE架構(gòu)法律身份不明確,這一架構(gòu)長(zhǎng)期游走于灰色地帶。這樣,不可避免會(huì)滋生相關(guān)法律風(fēng)險(xiǎn)。我國(guó)已然進(jìn)入全面推進(jìn)依法治國(guó)的新時(shí)期,企業(yè)融資監(jiān)管機(jī)制法治化自不例外。VIE結(jié)構(gòu)政策不明朗,游走于灰色地帶已有十多年的歷程,極不利于推進(jìn)“互聯(lián)網(wǎng)+”戰(zhàn)略,亦與依法治國(guó)的要求格格不入。當(dāng)務(wù)之急,應(yīng)盡快促進(jìn)VIE結(jié)構(gòu)監(jiān)管機(jī)制的法治化。具體說來,就是要通過區(qū)分股東和實(shí)際控制人,以股東和實(shí)際控制人替代認(rèn)定外資的股東國(guó)籍單一標(biāo)準(zhǔn),將“弱勢(shì)”外資予以區(qū)別對(duì)待,建構(gòu)適應(yīng)互聯(lián)網(wǎng)等科教企業(yè)需要的外資準(zhǔn)入監(jiān)管機(jī)制和融資監(jiān)管機(jī)制。
[Abstract]:In order to circumvent the laws and regulations that restrict and prohibit the entry of foreign capital, the overseas listing of Chinese enterprises uses the structure of VIE. By analyzing the structure of VIE and implementing the agreement control, "weak" foreign capital has been introduced. It also circumvented the national norms concerning the restrictions on the admission of foreign capital. This is the so-called legal action of breaking away from the law and circumventing the provisions by means of circuitous means in order to achieve the practical effect that the law does not allow. From the beginning, there has been a dispute about whether the VIE structure is legal or not, which leads to the controversy of "loose" and "tight" supervision. It is in the process of this debate that Chinese enterprises go overseas to list on the VIE structure. Starting from the Sina model, from one to more than 250, from the Internet and other new economic fields rapidly infiltrated many industries and industries, it can be said that "spark", has started a prairie. Vie structure of a large number of existence. Thanks to the tacit regulatory policy. Tacit supervision indeed provides a rare living space for the development of scientific and educational enterprises such as the Internet in China. The problem is that the legal status of vie framework is not clear. This framework has been wandering in the gray area for a long time. In this way, it will inevitably breed the related legal risks. China has entered a new period of comprehensively promoting the rule of law. The legal system of enterprise financing supervision mechanism is no exception. The structure policy of vie is not clear, and it has been more than ten years' history to walk in the gray area, which is extremely unfavorable to the promotion of the "Internet" strategy. It is also incompatible with the requirements of governing the country according to law. The urgent task is to promote the legalization of the regulatory mechanism of the VIE structure as soon as possible. Specifically, it is necessary to distinguish between shareholders and actual controllers. Replacing the single standard of shareholders' nationality with shareholders and actual controllers, the "weak" foreign capital should be treated differently, and the supervision mechanism of foreign capital admission and financing should be constructed to meet the needs of scientific and educational enterprises such as the Internet.
【學(xué)位授予單位】：暨南大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2015
【分類號(hào)】：D922.291.91

【相似文獻(xiàn)】

相關(guān)期刊論文 前10條

1 李雨松;;公司法人人格否認(rèn)對(duì)離岸公司的適用[J];四川理工學(xué)院學(xué)報(bào)(社會(huì)科學(xué)版);2007年05期

2 v鐚雌，

本文編號(hào)：1481700