关于我国构建双重股权结构的研究-企业管理专业论文.docxVIP

监督机制和中小投资者保护机制。 监督机制和中小投资者保护机制。 随着我国资本市场的发展，企业股权结构的设计越来越灵活，我国可以移 植双重股权结构，为我国资本市场注入活力。目前，我国公司法和公司实践， 公司股权结构都把一股一权作为基本原则，相关法律法规并未明确规定双重股 权结构。因此，我国构建双重股权结构需要完善公司法、证券法等相关法律法 规，明确双重股权结构的法律地位，建立双重股权结构的适用规则，保障双重 股权结构的有效运行。此外，我国目前不能使用双重股权结构另一原因是我国 资本市场的监管机制不健全和中小投资者保护的法律制度不完善。因此，我国 构建双重股权结构还需要进一步加强对中小投资的保护，完善信息披露、股权 制衡机制和股东诉讼制度等相应配套制度。 关键词：双重股权结构；一股一权；控制权 II 万方数据 AbStractThe AbStract The dual一class share structure along wim the deVelopment of modem ente印rise system，is me iImoVation way of the co印orate goVemallce stmcture for good goVemance mode．The dual-claSs share s协Jcture allows companies to issue difrerent Voting ri曲t stock，and sets up the correSponding rights aIld obligations on all kinds of stock in equity stIucture．The dual一claSs share structure，because of its u11ique Voting mechanism，is a good way to solVe the contradiction betWeen equity flnancing and management contr01 system oVer tlle compan弘 and disperse the founding shareholders’investment risk．With the family business and irmoVatiVe ente平rise demaJlding for the innovation of the co叩orate goVemallce，is commonly used by a growing number of companies．In recent years，Alibaba Co印oration，JD Co叩oration and other domestic v，ell—l(Ilo、瓶electric时ente叩rises going public with dual class stock，sparked the debate of dual一class share structure of Chinese scholars． Compared wim the traditional single—share stmcture，me dual-claLss structure deviate行om a one share—one vote regime，separate caSh now ri曲ts a11d Voting rights， aIld stable on control aIld so on．The dual—claSs shaure stmcnlre of the umque advantages，makes it easier to practice gmdually widely used iIl tlle compaJly．First of all，it protects the originator or the substaIltial shareholders with stable control power， which is also the origiml pu印ose of the dual—class sha绝In细mly busillesses， maJlagement in order to promote the如“her deVelopment of the ente印rise，need more equity financing，but several ro吼ds of equity fiImcing may reSult in loss of management contr01，、vhi