A Research On Stockholder's Rights To Learn The Truth Based On The Protection Of Small And Medium Investors

The paper studied the correlative contents of the right to learn the truth held by stockholders base on investors' protection. The small and medium investor is main participator in security market. They are suffering encroachment form large stockholder, manager and intermediary institution because of information asymmetry. The key to solve information asymmetry is small and medium investors should stick up for their rights and interests on their own initiative but not consummating information disclosure system .The base of safeguarding stockholders' right is to learn the truth held by stockholders. So the right to learn the truth held by stockholders is important.This paper raises the concept of the right to learn the truth held by stockholders. It has also outlined the basis of the theory about the truth-learning right that is made up with the theories about Principal-Agent Theory and the rights of stockholders.The paper also researches the development course of stockholder's Right to learn the Truth. It is an advancement of small and medium investors from accepting information from listed companies passively to recruiting intermediary institution, It is an advancement of small and medium investors from recruiting intermediary institution to sticking up for their rights and interests on their own initiative further. The paper not only researches the enforcement scope of truth-learning right but also discusses the enforcement approach of truth-learning.After researching the correlative contents of the right to learn the truth held by stockholders ,we can educe a theme that is always under discussion on securities market development investors rights and interests is all the time the aim that stockholders 'truth-learning right system is established for .