【作者】 何涛；

【导师】 李士萍；

【作者基本信息】 天津大学 ， 法律（非法学）， 2020， 硕士

【摘要】 因特别表决权将投票权与财产权分离,促使特别表决权股东的投票权得到极大膨胀,会产生代理成本增加、信息披露受阻、内外部监督机制失灵等结构性的问题,所以引起了各界对普通股东权益容易受侵犯的担忧。同时我国2019年3月发布的《上海证券交易所科创板股票上市规则》及其他相关法律对普通股东的保护力度不足,存在特别表决权主体资格待明确、强化表决程序规则待补充、内部监督机制待完善、特别表决权滥用规定待明确、股东救济制度待完善等方面的制度缺陷,因而使得特别表决权法律规制的研究显得很有必要。此外,特别表决权法律规制的研究要结合契约精神的缺失、机构投资者的局限性、个人投资者的投机性等本土的特征展开。因此本课题除了绪论和总结,共分为四个部分展开研究。第一部分,从特别表决权的概念、相关理论学说和我国特别表决权的实现现状出发,得出当前特别表决权需要侧重的研究方向。第二部分先从本土市场问题引出特别表决权法律规制的必要性,而后分析特别表决权的结构性问题和我国法律规制的缺陷。第三个部分先总结域外法域对特别表决权法律规制的态度变迁,再以问题为导向,按照特别表决权的行使逻辑顺序,对域外各法域对特别表决权规制的有益经验进行总结。第四部分先结合域外法域对规制的态度变迁和本土市场的问题,总结出我国法律规制的原则,再以问题为导向提出五点完善建议。更多还原

【Abstract】 Because the special voting right separates the voting right from the property right,which makes the voting right of the special voting right shareholders expand greatly,it will cause the structural problems such as the increase of agency cost,the obstruction of information disclosure,the failure of internal and external supervision mechanism,etc.,so it causes the concern that the common shareholders’ rights and interests are easy to be infringed.Meanwhile,China’s "Listing Rules of science and Innovation Board of Shanghai Stock Exchange" and other relevant laws issued in March 2019 lack the protection of ordinary shareholders.There are institutional defects in the following aspects: the subject qualification of special voting rights needs to be clarified,the rules for strengthening voting procedures need to be supplemented,the internal supervision mechanism needs to be improved,the abuse of special voting rights needs to be clarified,and the shareholder relief system needs to be improved,therefore,it is necessary to study the legal regulation of special voting rights.In addition,the research on the legal regulation of special voting rights should be based on the local characteristics such as the lack of contractual spirit,the limitations of institutional investors,and the speculative nature of individual investors.Therefore,in addition to the introduction and summary,this topic is divided into four parts.The first part,from the concept of special voting rights,related theories and the current situation of the realization of special voting rights in China,draws the research direction of special voting rights.The second part first introduces the necessity of special voting rights legal regulation from the local market problems,then analyzes the structural problems of special voting rights and the defects of China’s legal regulation.The third part first summarizes the attitude changes of the special voting rights regulation in the foreign law field,and then summarizes the beneficial experience of the special voting rights regulation in the foreign law field according to the logic order of the special voting rights.The fourth part summarizes the principles of our country’s legal regulation,combining with the changes of the attitude towards regulation in the foreign law field and the problems in the local market,and then puts forward five suggestions to improve it.更多还原