论现代公司法中的中小股东权益保护

On the protection of the rights of medium and small shareholders in terms of modern corporation laws

在投资回报率与风险承担系数相一致基础上的资本多数决定原则构成的公司议事制度的基本原则,有力地保障了公司经营决策的高效运行。然而,它使得大股东有机会凭借手中表决权的优势操纵公司的运营,而置中小股东的意志于不顾,从而严重挫伤中小股东的投资热情,中小股东由于其固有的弱势地位,尤其需要强有力的保护。从事前预防、事中监督和事后救济三方面,结合程序法和实体法来设置一个全面而立体的保护中小股东权益的法律空间,加强和完善这一方面的立法,以利于畅通社会闲置资金的投资渠道,促进股东多元化和引导投资者关注公司运营,从而健全我国公司的治理结构,促进经济的健康有序发展。

Consistent with the rate of investment retum and the efficient ot venture snare, the capital majority decision-making principle is the basic principle of the consulting system of corporations, and it ensure the efficient operation of corporations＇ decision-making. However, it might make the large shareholders to take advantages of their rights to manipulate the operation of corporations in spite of the wills of medium and small shareholders, which might decrease the enthusiasm of medium and small shareholders in investment. Since medium and small shareholders are not as strong as shareholders, they need necessary protection. This paper suggests that all-round legal supports should be provided to ensure the rights of medium and small shareholders from the three aspects of pre-mission prevention, while-mission supervision and post-mission relief in terms of procedure laws and entity laws. The legislation in this area should be improved so as to smooth the investment channels for idle capital in society, to diversify shareholders and direct investors to care about corporations＇ operation, and finally to better the governing structures of China＇s corporations and guarantee the healthy development of China＇s economy.