The Economic Laws And Regulations Governing The Merger And Reorganization Of Listed Companies In My Country

This paper first summarizes the mergers and acquisitions of listed companies,introduces the concept,characteristics and types of M & A,analyzes the concept and the mode of M &A,summarizes the basic theory of mergers and acquisitions,including market regulation theory,market defect theory and government failure theory.The study of mergers and acquisitions supervision has the functions of decentralization of risk control,protection of a fair,transparent and effective market and protection of investors’ rights and interests.Secondly,it analyzes the classic case of merger and reorganization of "Bao Wan" dispute,sums up the causes of the "Bao Wan" dispute,contention for control of equity and management,and the outcome of the contention,analyzes the behavior of all parties,and summarizes the government’s self relief and government intervention for the "Bao Wan" dispute and governnent punishment.The three stages of mergers and acquisitions and the government’s severe punishment for illegal activities are analyzed.This paper makes a summary and comprehensive study of the supervision process of the "Bao Wan" dispute,and points out that the supervision work has the problems of backward supervision concept,insufficient supervision legislation,lack of supervision efficiency and the penalty of violation of illegal activities.Suggestions are put forward to improve the supervision of M & A,first of all,including the gradual transition from comprehensive supervision to ex-post supervision,and the improvement of supervision ideas from strict supervision to efficiency regulation.Secondly,the construction of laws and regulations,including the company law,the securities law,other laws and regulations,and the supervision system,etc.This paper also conceives the creation of economic development law,further points out the function and significance of economic development law.Thirdly,this paper proposes the suggestions for the rational layout of the functional organizations,the implementation of the functions of the institutions and the improvement of supervision and evaluation.Forthly,this paper puts forward to increase the punishment.We should give full play to the disciplinary role of the regulatory authorities by integrating punishment and strengthening commandment education.