| Around the above content,this paper mainly have five chapters.The introduction has made a basic introduction to the background of this topic selection,and directly pointed out the main issues to be studied in this paper: the protection of public investors of listed companies under Dual-Class Share Structure.The first chapter first reflects on the “one-share-one-vote”rule under the assumption of the “shareholder homogenization” of the traditional company law.It intends to reveal the gap between the “one-share-one-vote”rule for the allocation of power of joint-stock companies,especially for listed companies.It is inferred that due to the influence of the number of shareholders and the degree of dispersion of stockholders in listed companies,the shareholders’ will is “different”in fact,and the emergence of the Dual-class Stock has its inevitable meaning,and combing out its position in the current company law practice,and the necessity and possibility of practical application.The second chapter elaborates the ultimate significance of public investor protection,and reveals that the expression of the listed company’s equity structure design should ultimately be implemented to the protection of public investors.The application of the Dual-Class Share Structure may easily lead to intensification of the company’s internal control rights,or even to the improper use of control rights,false or incomplete disclosure of information,or failure of the internal monitoring mechanism of the company.This can easily affect the general public investors.The third chapter focuses on the application of the Dual-Class Share Structure involved in the second chapter and the causes of the conflict of interests of the public investors,and then puts forward specific institutional ideas for the protection of public investors.It tries to positively guide the right of control to exercise properly and establish regulations.In terms of type-based mechanisms and relief-type mechanisms,the public investor protection system has been built from the inside out.At the end,the conclusions of the central idea are summarized. |
