Discussion On Shareholders' Right To Know

Alone with the separation between the company's ownership and the right of management, most shareholders don't participate in the management of company actually. If the shareholders want to carry out own rights adequately, they should know the information of corporation roundly, especially the information of management. In modern corporate governance structure, shareholders'right to know is the important right of shareholders, and is the premise on which other rights of shareholders can be exercised and enjoyed. Nowadays, the phenomenon of infringing shareholders'right to know often occurs. The problem which the law of corporation must be solved is that how to ensure the realization of shareholders'right to know. We should study the character and the realization of shareholders'right to know in order to protect shareholders'right better.The shareholders'right to know is the request of exercising the shareholders'right and incarnate principle of equality between shareholders. The shareholders'right to know included the information of setting up corporations, the information of management, the great affairs and the financial information. Shareholders can realizing the right to know by referring to the information of corporations, gathering the information of corporations, exercising the shareholders'right to inquiry, exercising the shareholders'right to survey and lawsuit. The law of corporation should not only guarantee the realization of the shareholders'right to know but also avoid the abuse of the shareholders'right to know. It should restrict the shareholders'right to know in order to protect the benefits of corporation. The restriction of shareholders'right to know included proper intention, effectiveness, time, place and the secret of commerce. We should perfect the legislation of shareholders'right to know by prescribing the expenses of audit, referring to the original account voucher, empanelling inspector and constituting the rule of judicial relief about the shareholders'right to know.