The Study Of Judicial Intervention On Listed Company Anti-Takeover Regulations

The takeover of listed companies is the basis controlling abilities inmarkets, which can do some good to the management. But as a result of ahostile takeover, the anti-takeover is necessary for listed companies.According to the development of the securities market and the reform ofthe sharehold division, there is a good environment for the developmentof listed companies, but the competition between takeover andanti-takeover is serious. According to the condition of the market andlegal state, the legal regulations about anti-takeover need to bedemonstrated more. Here, the basic problem in the anti-takeover is to beanalyzed, and some demonstrations about the judicial involvement arepresent, and some advices are developed to do some favor to theconstruction of anti-takeover regulations.In this paper, the main content is divided into four parts.The first chapter is the basic problems of listed companies. This partfirstly elaborates the concept of listed company’s anti-takeover andintroduces the main anti-takeover measures. Then the interest conflictsduring the process of anti-takeover are summarized. The following is the theories of the basement for the listed companies’ anti-takeover. Thedescription of the anti-takeover implies the value of existence.Chapter Ⅱ is the existing problems and causes of the anti-takeoverof listed companies. This part mainly introduces the realistic cases oflisted companies’ anti-takeover in China. And the paper concludes andsummarizes the problems during the process of the listed companies’anti-takeover. Then the reasons of these problems are analyzed.Chapter Ⅲ presents the theoretical basis of the judicialinvolvement in listed companies’ anti-takeover. The value and the targetof judicial involvement are elaborated, and the principles of judicialinvolvement during the anti-takeover in China are presented. It presents afoundation for the judicial involvement of China’s listed companies’anti-takeover system.Chapter Ⅳ gives some constructions about the judicial involvementduring the anti-takeover. The objectives and the concrete systemconstruction of the listed companies’ anti-takeover are discusses.Combined with the actual situation of our country, some advices aboutthe judicial involvement during the listed company anti-takeover aredeveloped.