Legal Regulation Of Corporate Control

To prevent the abuse of corporate control,the key is design an effective system to prevent the owner of the corporate control pursuit of private interests by means of demange the interests of the company and other shareholders.There are three main theories about the corporate control, principal-agent theory,incomplete contact theory and stakeholders theory.The corporate control's legal regulation should be start from the configuration and the exercise of it,make it a reasonable allocation and legitimate exercise.Let the power of corporate control have a reasonable allocation between the controlling shareholder, management and minority shareholders.The writer analyses the problems of domestic regulation on the corporate control and its root causes, and introduce some the foreign practices of the regulation on the corporate control. We can learn from them and use some proposals to solve the problems, such as make the supervisory board and independent directors more independent, election of a certain percentage of the directors to become the spokesman of the minority shareholders,inprove the oversight functions of the supervisors,etc.Only through these methods can we make up the legal loopholes and defects of domestic regulation on the corporate control, make the corporate control legitimate exercise and promote the development of the company.