許多公司都有多個(gè)股東組成,無(wú)論是由工程師和商人共同創(chuàng)建的公司,還是由幾個(gè)公司組成的國(guó)際合資企業(yè),這種多股東的情況有可能會(huì)導(dǎo)致公司在將來(lái)陷入癱瘓。問(wèn)題的關(guān)鍵在于公司具有表決權(quán)股份的分配,如果股權(quán)結(jié)構(gòu)相同,即兩個(gè)股東分別持有50%的股份,股東大會(huì)上的任何決策都需要投票通過(guò)。若股東間發(fā)生爭(zhēng)議,就會(huì)形成僵局。因此,公司就會(huì)失去進(jìn)行大規(guī)模投資和戰(zhàn)略調(diào)整的能力。德國(guó)母膠工業(yè)公司成立于1994年,由六個(gè)人創(chuàng)立,且公司章程至今未修改。公司的股權(quán)結(jié)構(gòu)發(fā)生了巨大變化,目前一個(gè)私人和一家公司各持有50%的股份。但是過(guò)時(shí)的股東協(xié)議不足以處理股東糾紛,如果在需要投票的決策上出現(xiàn)分歧,股東的僵局將不可避免。本論文將對(duì)德國(guó)母膠工業(yè)公司進(jìn)行分析,著重解決和緩和同等股權(quán)結(jié)構(gòu)的股東僵局問(wèn)題。研究目的在于評(píng)估公司章程中的僵局解決條款,這些條款能夠在維持目前所有權(quán)結(jié)構(gòu)保持不變的情況下解決沖突。此外,本文還將探討幫助公司及其股東避免僵局的機(jī)制,這種解決方案既可以通過(guò)修改股東協(xié)議中的一些現(xiàn)行條款實(shí)現(xiàn),也可以通過(guò)定義和分配股東在相關(guān)公司的核心能力實(shí)現(xiàn)。研究結(jié)果表明,股東之間的沖突通常有兩個(gè)組成部分,即背景經(jīng)濟(jì)部分和情緒化的部分。由...

【文章頁(yè)數(shù)】：140 頁(yè)

【學(xué)位級(jí)別】：碩士

【文章目錄】：
Acknowledgments
摘要
Abstract
Chapter One Introduction
    1.1 Research Background,Purpose& Significance
        1.1.1 Research Background
        1.1.2 Research Purpose
        1.1.3 Research Significance
    1.2 Literature Review
        1.2.1 Emergence of Deadlocks
        1.2.2 Deadlock Provisions
        1.2.3 Deadlock Prevention
    1.3 Research Content& Question
        1.3.1 Research Question
        1.3.2 Research Content
    1.4 Research Methodology& Innovation
        1.4.1 Literature Research
        1.4.2 Analysis of ARGUS Additive Plastics Gmb H
        1.4.3 Market Analysis& Expert Interviews
        1.4.4 Research Innovation
Chapter Two Theoretical Framework
    2.1 Theories of Corporate Governance
        2.1.1 Agency Theory& Theory of Ownership Structure
        2.1.2 Stewardship Theory
        2.1.3 Stakeholder Theory
    2.2 Core-Competency Analysis
        2.2.1 Core-Competency Theory
        2.2.2 Porter’s Five Forces
        2.2.3 SWOT
        2.2.4 PESTEL
    2.3 Provisions for Maintaining a50:50 LLC
        2.3.1 Internal Dispute Resolution
        2.3.2 3^rdParty Dispute Resolution
    2.4 Provisions allowing for an Exit from50:50 LLC
        2.4.1 Exit Clauses
        2.4.2 Shoot-out Clauses
Chapter Three Environmental Analysis
    3.1 Introduction to the Masterbatch Industry
        3.1.1 Masterbatch Industry
        3.1.2 Overview:ARGUS Additive Plastics Gmb H
        3.1.3 Overview:GRAFE Advanced Polymers Gmb H
    3.2 External Analysis
        3.2.1 PESTEL
        3.2.2 Porter’s Five Forces
    3.3 Internal Analysis
        3.3.1 SWOT– ARGUS Additive Plastics Gmb H
        3.3.2 SWOT– GRAFE Advanced Polymers Gmb H
Chapter Four Company Analysis– The Threat of Deadlocks
    4.1 Conflict in Corporate Governance
        4.1.1 Principal-Agent Conflict
        4.1.2 Stewardship Dynamic
        4.1.3 Stakeholder Approach
    4.2 Articles of Association
        4.2.1 Voting Mechanisms
        4.2.2 Lack of Incentives to Achieve Consensus
    4.3 Common Shareholder Disputes
        4.3.1 Appropriation of Profits
        4.3.2 Strategic Orientation
        4.3.3 Employment of Family Members as Managing Directors
Chapter Five Solution Proposal
    5.1 Evaluation of Deadlock Provisions
        5.1.1 Internal Dispute Resolutions
        5.1.2 3^rdParty Dispute Resolution
        5.1.3 Exit- &Shoot-out Clauses
        5.1.4 Deterrence Approach
    5.2 Coordination of Core Competencies
        5.2.1 Appropriation of Profits
        5.2.2 Strategic Orientation:Focus on Individual Niches
        5.2.3 Appointment of Managing Directors
Chapter Six Implementation Plan
    6.1 Rewriting the Articles of Association– Deadlock Provisions
        6.1.1 Determination of a Deadlock Situation
        6.1.2 Mediation Clause
        6.1.3 Arbitration& Deterrent Clause
        6.1.4 Exit Arrangements
    6.2 Rewriting the Articles of Association– Reducing the Risks of Deadlocks
        6.2.1 Appropriation of Profits
        6.2.2 Strategic Orientation:Focus on Individual Niches
        6.2.3 Appointment of Managing Directors
Chapter Seven Conclusion
    7.1 Conclusions
    7.2 Research Limitations
    7.3 Direction of Further Research
References
Appendix



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