公司投票代理权制度研究

公司投票代理权制度是现代公司治理中的一项重要法律制度,美、德、日等许多西方发达国家均已建立起本国的投票代理权制度。通过对发达国家的投票代理权制度比较研究不难发现,该制度的有效运作需以分散化公司股权结构为前提条件。我国上市公司已开始呈现股权分散化发展趋势,建立和完善我国投票代理权制度具有重要的现实意义。构建我国投票代理权制度时应考虑确立备案制监管模式、明确信息披露的要求、禁止有偿征集、充分保护股东建议权、明确有效委托方式并建立虚假陈述责任制度。

A Study of the Corporation Proxy

Proxy is an important legal system for corporation governance and has proven very successful in the U.S.,Germany,Japan,et al.Through a comparative study of the proxy institution in the developed countries,one can easily find that a dispersed stock structure is one of the pre-conditions to successfully introduce of the system.Since China is now observing a change of the stock structure of listed companies and it seems that the equity of a company is gradually not controlled by few extremely controlling shareholders,but by a few shareholders,it is an appropriate time for China to establish a proxy system.While establishing such a system,we should carefully consider the following factors: the record and supervision system,requirements for information disclosure,prohibition of solicitation with payment,protection of shareholders' right to proposal,effective forms of agency,liability and effect of false statement,etc.