论中小股东知情权的法律保护

在职攻读硕士学位论文 论中小股东知情权的法律保护 导 师：李永成 副教授 作 者：秦丽桦

中国·重庆 二○○八年九月 1

中文摘要 随着我国市场经济的发展和完善，公司制度在逐渐走向成熟，经济社会的发展也从注重“效率优先，兼顾公平”转向了更加关注公平的和谐社会的构建。就公司法律制度的研究而言，也是如此。在公司法律制度的研究中，我们关注的不仅是效率问题，公平问题也同样是我们的价值追求之一。在这种研究思想指导下，中小股东的保护问题就进入了我们的研究视野。本文主要针对我国中小股东知情权保护的不足，从中小股东知情权保护的理论基础、我国中小股东知情权保护的现状、造成该现状的原因以及如何在现有的基础上对中小股东知情权保护的完善进行了较为系统的论证，并提出了相应的立法建议，旨在为中小股东知情权保护的落实做一点贡献。 本文共分四部分。 第一部分是对中小股东知情权的界定。首先，简单介绍什么叫知情权、股东知情权、中小股东知情权。其次，对有限责任公司和股份有限公司中中小股东知情权之区别和联系进行了分析。 第二部分是对中小股东知情权保护必要性的学理分析。首先，是中小股东知情权产生的经济分析，旨在表明由于大股东与中小股东之间的信息不对称，以及中小股东要通过知情权的行使来实现投资的回报，因此必须重视中小股东知情权的保护。其次，是中小股东知情权保护的法理分析。本文主要从所有权与经营权分离、中小股东多不参与公司经营管理的现实要求，股东法律地位的平等性要求，大股东与中小股东之间的利益平衡要求，完善公司治理结构的需要，公司社会责任的承担等几个方面分析了中小股东知情权保护的法理因素。 第三部分是我国中小股东知情权保护现状的考察。总的来说，我国中小股东知情权保护的现状是不容乐观的，这其中既有法律制度本身还存在不完善、缺乏可操作性，尚未形成完整、系统的中小股东知情权权利保护体系问题，又有公司的决策层和管理层没有很好地履行信息披露义务和保障股东查阅权行使的义务的问题，等等。论文对造成这种状况的原因进行了多角度的分析。 第四部分是我国中小股东知情权保护的立法完善问题。在立法完善的 2

总体思路上，本文认为，应坚持权利适度保护、保障和救济并重等原则，并应注意立法形式的协调；需要进行立法完善的具体方面主要包括：知情范围的界定、中小股东行使知情权的具体权利问题、股份公司的信息批露制度、中小股东知情权的权利救济等。

关键词：中小股东 知情权 公司法 证券法 查阅权 起诉权 1 Abstract With the development of and improvement of China’s market economy, company system is gradually becoming mature. Development of economy and society has changed from a foucs on “ giving priority to efficiency with due consideration to fairness”. As to the research of legislation, it is the same situation. In the study of company legal system, we are not only concerned about efficiency, fairness issue is also one of our pursuit of value. Under the guidance of such research thinking, protection of small and medium-sized shareholders is included in our research field. Aiming at the lack of right protecting small and medium-sized shareholders, this paper analyzes the right systematically from the following aspects: the thoretical basis, the current situation, reasons lead to such situation, how to improve. It aims at making some contributions on the fulfullment of the protection right of the small and medium-sized shareholders. This article is divided into four parts. In the first part, defining the concept of the right to know of small and medium-sized shareholders. Firstly, simple introduction about the right to know and the right to know of small and medium-sized shareholders. Second, analysis and definition on the difference and connection between limited liability company and Co.Ltd.about the right to know of small and medium-sized shareholders. The second part is the thoretical analysis of the necessity of protection the right to know of small and medium-sized shareholders. First, the economic analysis of the right to know of small and medium-sized shareholders. Small, medium-sized shareholders and large shareholders of the information asymmetry between the shareholders, as well as small and medium-sized shareholders through the exercise of the right to know to achieve the return on investment issues, their rights must be guaranteed to the right to know of small and medium-sized shareholders. On the other hand: the legal analysis of the protection of the right to know of small and medium-sized shareholders. Separation of ownership and management, the reality of most small and medium-sized shareholders are not involved in company management requires 2

the legal protection of the right to know of small and medium-sized shareholders. The equal of legal status requires the protection of the right to know of small and medium-sized shareholders. The balance of benefits between large, small and medium-sized shareholders also requires the protection of the right to know of small and medium-sized shareholders. It is the necessity of improving the company management construction to strengthen the protection of the right to know. Protection of the right to know of small and medium-sized shareholders is an important way for company to take the social responsibility. The third part is the investigation of the present state of protecting the right to know of small and medium-sized shareholders. However, in a word, the situation of protection of the right to know is not optimistic. There maybe three reasons caused the above situation. First, the faultiness of legal system, the lack of manipulation make us can’t set up a essential protection systme of the right to know. Leaders in management and decision-making department don’t fulfill the oligation of throwing daylight on messages of company and protecting shareholders to look up messages. A almsgiving system of right to know hasn’t been setted up from the leagl regulations to judicature practice. There are many reasons lead to the present situation of the protection of the right to know. The lawmaking improvement about the right to know has been concerned in the fourth part. First, the general thinking: insist on the sufficiency and insist on the ensurance and almsgiving both important to improve lawmaking. The harmony of the lawmaking form is also concerned. Second, the detailed aspects about the right protection: define the scope of right to know, make up for the detailed rights about the right to know of small and medium-sized shareholders, system of throwing daylight on message concerning Co.Ltd. Right almsgiving of small and medium-sized shareholders.