本文選題：股東優(yōu)先認購權　切入點：股東利益　出處：《上海師范大學》2015年碩士論文　論文類型：學位論文

【摘要】：股東優(yōu)先認購權,即指公司股東基于其股東的資格在公司發(fā)行新股的時候,能夠優(yōu)先于其他股東按照其持股比例認購新股的權利。股東優(yōu)先認購權不同于一般股權轉讓,與公司員工行使的優(yōu)先認購權亦有不同。股東優(yōu)先認購權使得股東的比例性利益得到了維護,使現有股東免受發(fā)行新股后其表決權比例有所下降,并且賦予股東維護自身利益的權利,股東得以借此獲得新股價格與市價之間差價作為現實收益。因此,股東優(yōu)先認購權具有共益權兼具自益權的功能。股東優(yōu)先認購權分為抽象性股東優(yōu)先認購權與具體性股東優(yōu)先認購權,二者既有聯系又有區(qū)別,抽象性股東優(yōu)先認購權為基礎,具體性股東優(yōu)先認購權由其產生,然而抽象性股東優(yōu)先認購權的實現又必須依賴于具體性股東優(yōu)先認購權。對于抽象性股東優(yōu)先認購權的性質不存在爭議,但對于具體性股東優(yōu)先認購權的性質存在較大的爭議,主要爭議在于其是債權還是物權、形成權還是請求權。股東優(yōu)先認購權往往會與公司的運作效率相沖突,公司的融資效率會受到較大的影響。隨著社會的快速發(fā)展、經濟全球化的深入,公司的商事行為所產生的影響逐漸擴大,往往會牽涉到社會公眾的利益。因此股東優(yōu)先認購權所體現的利益沖突已不再是股東利益與公司運作效率之間的沖突了,利益沖突更加多元化,對廣大股民以及社會投資決策者等社會公眾利益一方也會造成嚴重的影響。本文將股東優(yōu)先認購權所體現的各項利益進行分析,研究了股東利益與公司的運作效率以及社會公眾利益三者之間應當怎樣平衡。對現有股東優(yōu)先認購權法律制度的不足進行整理、歸納,并分析了國外股東優(yōu)先認購權法律制度,以一種創(chuàng)新的價值理念的引領,對我國股東優(yōu)先認購權法律制度的完善提出建議。
[Abstract]:Shareholder's prior subscription right means that the shareholders of a company, based on the qualification of their shareholders, can take precedence over the rights of other shareholders to subscribe for new shares according to their shareholding ratio when the company issues new shares. The prior subscription right of shareholders is different from the transfer of ordinary shares. It is also different from the preferential option exercised by the employees of the company. The shareholder's prior subscription rights protect the shareholders' proportional interests and reduce the voting ratio of existing shareholders after they are exempted from issuing new shares. And it gives shareholders the right to defend their own interests, through which shareholders can obtain the difference between the new share price and the market price as a real benefit. The shareholder's preferential subscription right has the function of co-beneficial right and self-beneficial right. The shareholder's prior subscription right is divided into abstract shareholder's preferential subscription right and concrete shareholder's preferential subscription right, both of which are related and different, and the abstract shareholder's preferential subscription right is based on the abstract shareholder's prior subscription right. However, the realization of abstract shareholder's preferential subscription right must depend on the specific shareholder's prior subscription right, and there is no dispute about the nature of abstract shareholder's preferential subscription right. However, there is a great dispute about the nature of the specific shareholders' preferential subscription right, the main dispute is whether it is the creditor's right or the real right, the forming right or the claim right, and the shareholder's prior subscription right often conflicts with the company's operational efficiency. With the rapid development of the society and the deepening of economic globalization, the influence of the commercial behavior of the company will be gradually expanded. As a result, the conflict of interest embodied in the shareholders' prior subscription rights is no longer the conflict between the shareholders' interests and the efficiency of the company's operation, and the conflicts of interest are more diversified. It will also have a serious impact on the interests of the majority of shareholders and social investment decision makers. This paper analyzes the various interests embodied in the shareholders' preferential subscription rights. This paper studies how to balance the interests of shareholders with the operating efficiency of the company and the social public interests. It collates and summarizes the shortcomings of the existing legal system of shareholders' preferential subscription rights, and analyzes the legal system of foreign shareholders' preferential subscription rights. With the guidance of an innovative value concept, the author puts forward some suggestions on the perfection of the legal system of shareholders' preemption right in our country.
【學位授予單位】：上海師范大學
【學位級別】：碩士
【學位授予年份】：2015
【分類號】：D922.291.91

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