The Introduction Of Dual-class Share Structure Of Listed Companies In China

Dual-class share structure is the key research problems of listed companies,the overall operation and development is related to the company.Initially originated in Britain and other countries,mainly deal with the acquisition of hostility,dilution to solve the problems such as the company caused by continuous financing,retained control of implementation.In recent years,the dual-class share structure has been widely concerned by all circles of society of our country the Alibaba listed in Hong Kong in 2014,rejected the final choice in the United States,this event will be pushed to the climax.The dual-class share structure with preferred shares,the special management unit of the implementation of the system,our country can be introduced into the double ownership structure and how to introduce the became the focus of controversy.Based on the double The evolution and development of heavy shareholding structure,regulations and practices of China’s relevant legal system of Listed Companies in the demand for dual-class share structure and measure of the value of its advantages and disadvantages,the necessity to explore China’s listed company introduced a dual share structure.In order to make the dual-class share structure adapt to the actual situation of our country,carries on the localization of path selection break the law,the existing system obstacle,clear the scope of dual-class share structure,perfecting the corresponding supporting system.The first chapter is the history and the legislation of dual-class share structure,this chapter is a summary of the three,respectively,for the Jingdong,the Alibaba dual-class share structure,the legislative status of dual-class share structure in the United States,Dual-class share structure structure are discussed and analyzed in detail the legislative situation in our country,in order to expound the connotation,dual-class share structure characteristics.And through the comparison of Dual-class share structure structure in China legislation,to master a variety of basic problems of dual-class share structure,so as to lay the foundation for further writing.The value of dual-class share structure for the second chapter,this chapter is a summary of the two,analyze the two aspects of the advantages and disadvantages of dual-class share structure,based on Dual-class share structure structure in violation of the principle of one share one vote,against the interests of small shareholders and other defects and prevent hostile takeover,expounds and comparison helps the company long-term development the advantages of the inquiry,the shareholding structure of the double value,value provided certain theoretical basis for the implementation of Dual-class share structure structure.The third chapter is the necessity of the listed company for the dual-class share structure in our country,this chapter is divided into two sections,through researching the status of Listed Companies in the United States and the relevant statistics,analysis of legitimate demand for dual-class share structure of Listed Companies in China,provide relevant data support for the introduction of dual-class share structure of listed companies in our country.The fourth chapter is the path selection of dual-class share structure in china listed companies,this chapter is a summary of the three,the main breakthrough in China’s existing legal obstacles,put forward specific ideas to choose dual-class share structure localization path,for the protection of minority shareholders and the construction of the system.