The Research On Network Voting For Listed Companies' Shareholder's Meeting

Being the most powerful authority, shareholder's meeting is exerting more and more important function on managing scheme and shareholders'rights and interests protection of listed companies. But in China, because of low attending rate of minority shareholders, shareholder's meeting doesn't exert its essential function and minority shareholder's rights and interests don't gain effective protection. The reasons of the status quo are: firstly, the high cost for minority shareholder to attend shareholder's meeting, there is no cheap and effective way to let them vote; secondly, there is a controlling shareholder in most listed companies which holds more than 50% shares, so minority shareholder's voting can not change anything.Aiming at the existing problems in shareholder's meeting in China, we design corresponding solutions. They are network voting and classified voting. Classified voting is a kind of rule. It just needs explanation in relative rules. Network voting needs rule design and computer system design. The key of the success of network voting is the perfect integration of rule and technique renovation. In this article, we firstly reviewed the status quo and problems in shareholder's meeting and then gave out our solutions. Secondly, we study the feasibility of network voting. Thirdly, we compared different network voting plans and gave out the final plan. Fourthly, combining the practice of ShenZhen Stock Exchange, we lucubrated the operation rules and computer system requirement analysis related to network voting. Fifthly, we thoroughly studied all important issues related to the layout and implementation of network voting. Finally, we expounded the important function of network voting on split-share structure reform and public shareholders'rights and interests protection.Under the split shareholder structure in our country's stock market, the interests of the biggest shareholders and public investors are not consistent. The rights and interest of minority shareholders didn't gain effective protection. Network voting provides a cheap and effective way for public investors to attend shareholder's meeting. It can raise the attending rate of shareholder's meeting. It also provides an effective platform for classified voting and split-share structure reform. Key words:shareholder's meeting split shareholder structure network...