An Empirical Study Of Shareholders’ Right To Know Lawsuits

Shareholders’ right to know is an important right for shareholders to understand the company’s operating conditions.As a highly socialized organization,whether a company’s behavior is normal is directly related to the security of transactions and the stability of social order.The management model of separation of management rights and ownership is an important basis for ensuring the efficient operation of contemporary companies.The management of the company is the responsibility of senior management.Most shareholders are separated from the company’s operations.The resulting imbalance of information directly threatens shareholders’ interests achieve.Therefore,it is the presupposition of law for managers to manage the company diligently,faithfully and dutifully,otherwise it will destroy the entire company’s legal foundation.Shareholders’ right to know is the inherent right of shareholders,which is the basis of protecting shareholders to know the company’s operating conditions and then to effectively exercise other rights.In order to avoid the unequal information aggravating the conflicts between operators and shareholders,shareholders and shareholders,the Company Law establishes the system of shareholders’ right to know in a mandatory way.As an important category of corporate litigation,shareholders’ right to know still have many controversial issues in judicial practice,making the effective realization of shareholders’ right to know face many difficulties.On December 5,2016,the 1702 nd meeting of the Judicial Committee of the Supreme People’s Court adopted the "Provisions of the Supreme People’s Court on Several Issues concerning the Application of the Company Law of the People’s Republic of China(IV)".Among them,there are detailed regulations on the exercise of shareholders’ right to know.At this time,it is of great significance to conduct empirical research on shareholders’ right to know since the implementation of the Company Law of the People’s Republic of China.This paper selected 1265 sample cases in Jiangsu,Zhejiang and Shanghai for combing statistics,analyzed with relevant theories,found out the problems existing in the litigation of shareholders’ right to know and put forward relevantsuggestions through practice.This article was divided into four parts.The first chapter elaborated the research purpose and significance of this article.Based on the current status of research on shareholder’s right to know at home and abroad,the empirical analysis-based research method was used to study the shareholder’s right to know system in order to provide scientific basis for improving China’s legislation and guaranteeing the effective realization of shareholders’ right to know.The second chapter introduced the data sources and analysis methods for empirical research in this article.Through searching the major judicial case databases,1265 cases of shareholders’ right to know lawsuits in Jiangsu,Zhejiang,and Shanghai that entered the substantive trial stage were screened out.Based on this,the variables were set and evaluated,and general data such as court trials were described and analyzed in general.The third chapter mainly analyzed the subject qualification of shareholders’ right to know.The exercise of the shareholder’s right to know is based on the premise that the shareholder has the shareholder’s qualifications.The nominal shareholder can exercise the shareholder’s right to know in the case where the dormant investor has no objection,and the dormant investor must go through the procedure of manifestation before exercising shareholder rights.Defects in capital contributions do not result in the loss of shareholder qualifications or affect the exercise of the right to information.The original shareholders lose their qualifications after exiting the company,but still have the right to know in special circumstances.The fourth chapter discussed the question of the scope and methods of the shareholders’ right to know.This article classified the types of documents to be reviewed,conducted an empirical analysis of 1,265 sample cases,and analyzed the consulting problems of management decision documents,accounting books andaccounting documents.Shareholders’ requirements for checking accounting documents should be supported.Only checking accounting documents can truly guarantee the effective exercise of rights,but it must be supplemented by restrictions for legitimate purposes.The inspection request filed by the shareholders for the right to know should not exceed the inspection scope specified in the written application of the pre-procedure.Through the empirical analysis of the variable of access method,the necessity of entrusting shareholders’ right to know was analyzed.