【作者】 刘昕；

【导师】 宋显忠；

【作者基本信息】 吉林大学 ， 法律硕士（非法学）（专业学位）， 2020， 硕士

【摘要】 我国证券市场的中小股东数量庞大,不容忽视,保护中小股东的权利有利于证券市场的稳定发展。2020年3月1日施行的新证券法对投资者保护进行了专章规定,确定了代表人诉讼制度的证券民事诉讼形式,加大了证券违法行为的行政处罚力度。我国退市法律制度不断向前发展,但公司退市时,中小股东权利受损的现象依然存在。基于此,笔者以案例研究为前提,引出退市公司中小股东权利保障存在的问题,并结合新证券法的实施,提出对应的建议。理论是实践的基础。本文以退市与中小股东权利保障的基础理论为切入点,依次介绍了公司退市的概念,讨论了退市的类型,回顾了退市制度的立法发展,并介绍了中小股东权利保障的意义与措施,为后文作了理论铺垫。而后,本文以案例为基础,介绍了退市公司中小股东权利保障存在的问题,包括公司内部监督机制失灵、证券监管机制缺失与证券民事责任不完善,并依次讨论了问题背后的原因。最后,本文根据退市公司现存的问题提出了对应的制度建议。重塑公司内部监督机制为公司内部治理措施,而健全证券监管机制与完善证券民事责任制度属于外部环境约束。更多还原

【Abstract】 The number of small and medium shareholders in China’s securities market is huge,and it cannot be ignored.Protecting the rights of small and medium shareholders contributes to the stable development of the securities market.The new securities law,which came into effect on March 1,2020,provides a special chapter on investor protection,establishes a representative litigation system,and increases administrative penalties for securities violations.China’s delisting legal system has continued to develop,but when the company is delisted,the rights of small and medium shareholders still suffer.Based on this,the author takes the case study as the premise,leading to the existing problems of the protection of the rights of small and medium shareholders when company is delisting,and combined with the implementation of the new securities law,puts forward corresponding improvement measures.Theory is the basis of practice.This article takes the basic theory of delisting and the protection of the rights of small and medium shareholders as the starting point,introduces the concept of delisting in order,discusses the types of delisting,reviews the legislative development of the delisting system,and introduces the significance of the protection of small and medium shareholders,made the theoretical groundwork for the later.Then,based on the case,this article introduces the existing problems of protecting the rights of small and medium shareholders,including the failure of the company’s internal supervision mechanism,the lack of a securities supervision mechanism,and the imperfect civil liability of securities.The reasons for the problems are discussed in turn.Finally,this article puts forward corresponding improvement measures based on the existing problems of the company’s delisting.Reshaping the company’s internal supervision mechanism is a company’s internal governance measure,and improving the securities regulatory mechanism and improving the civil liability system for securities are external environmental constraints.更多还原