The Legal Standardization Of The Connected Transactions Among Listed Companies

The resources of the listed company mostly comes from the society public,the distribution of resources is by all means paid attention to and overseen by society, the connected transactions can not be operated bellow camera and should be carried on the background of the open competition market, so that can distribute the resource best. The connected transactions changes the market trade into the internal trade of company group, which can save the trade cost, reduce the indetermination of the trading process, be advantageous to get the maximum of the company profit and improve its compositive ability of market competition. However, each side of the connected transactions has countless ties relations, its degree of public is under suspicion. Because the one side always has the control power or important influences on the other side in the connected transactions, so the connected side can make use of the control power easily to make the connected transactions disobey the business item of equivalence, cause the occurrence of the unfair bargain, then damage the legal rights of the company and other ones that has the related benefits.The unnormativeness of connected transactions of listed company is an outstanding problem on the development of our country′s securities market. It not only damages the benefits of the small and medium shareholder seriously, also is disadvantageous the development of whole securities market .Because of the particularity of the relation of both trading sides, in the connected transactions there is the fact that the government surveillance is separate from the publicity oversight. So it is very urgent to make use of the law means to manage the connected transactions of the listed company. Only by the valid rules system of the connected transactions, the benefits of the small and medium shareholder and legal creditor can be protected, also then effectively promote the healthy development of the capital market. To strengthen the management of the connected transactions has the important meaning for protecting the legal rights of investor, improve the efficiency of capital market and maintenance the flourish and stabilization of securities market. The object of this paper is that study the connected transactions of the listed company. And in this paper, I will introduce the definition of the connected transactions and the connected side, compare and analyses the similarities and differences of the complexion of which censor the connected company between in our country and the developed country or area. On the basis, I put forward some advice about perfecting securities law and securities market.Chapter 1:Introduction. Introduce the related theories that connected transaction of the listed company,the definition, the legal character and confine of the connected transactions, and enumerate and classify the mostly types of connected transactions.Chapter 2: The related theories of the law rules system about the connected transactions of the listed company. Separately, expatiate the logic jumping-off point of the theories research of law rules about the connected transactions among the listed company, the basis of law rules about the connected transactions among the listed company and the idea of it.Chapter 3:The rule theories of connected transactions among the listed company on securities market in the developed country and area .It includes the strict examination, the conferment procedure, the fully information disclosure and the related content so on. In the paper these developed country and area include the United States, Taiwan and Hong Kong, etc.Chapter 4: The actuality of the law rules about connected transactions among our listed company. In this part, I will look back the course of it and introduce the related content in the Company Law, Securities Law, Accountant Law and Tax Law.Chapter 5: Perfect the law rules of the connected transactions among our country′s listed company. Particularly explore the route of it, develop the object adjusted by securities law , bring the relating company into the system of company law and breach the old juridical person system, establish the disaffirm principle of the juridical person′s selfhood, bring forward the related countermeasures which perfect the law rules of securities market, strengthen the surveillance of securities market, and perfect the information disclosure so on. In the end aim at the problems existing in law rules and related regulation, put forward the advice that harmony the conflict of law rules and strengthen the joint of law.