Shareholder's Information Right In Affiliated Transaction Of The Listed Company

Affiliated transaction, as an economic phenomenon, comes up with the development of the corporation system and the interest subjects who relate to corporation. With the grouping of corporations, affiliated transaction becomes more complicated and diverse. Affiliated transaction increases the conflict of benefits, among which, the minority shareholders'interests is harmed. This article tries to discuss the shareholder's information right in affiliated transaction.This article begins with the conception and theoretical basis of affiliated transaction and information right of shareholder. Chapter one analyzes related parties, types and positive and negative effects of affiliated transaction; introduce the development of information rights of shareholder. The theory of shareholder's information rights based on information rights theory, but has special reason and content. Chapter one also sets out relevant regulations in Chinese civil law.Chapter two starts concrete research on the main subject-shareholder's information right in affiliated transaction. Section one reveals the loss of minority shareholder's interests in affiliated transaction, by research on data and cases,then points out damages to minority shareholders interests of state-control-alone of public company. Considering characteristic of affiliated transaction, the information right includes transaction parties, types, pricing policy, and potential effect to the company. Section three discusses methods to protect shareholder's information right in affiliated transaction in two sides: disclosure duty of the company and examination right of the shareholder. Chapter three analyzes current situation of information right in affiliated transaction in China; Generalize relevant regulations as well as insufficiency thereinto, and discusses its reason.The last chapter discusses how to consummate legislation on information right in affiliated transaction. Based on introduction of US and Germany mode, the article proposes several suggestions to the relevant legislation, including amendment of information disclosure system and infringement liability system, establishment of examination committee in board. In the end, the article propose that, we should establish credit mechanism in securities market.