上市公司股东表决权限制机制探析

A Discussion on the Restricting Mechanism of Shareholder Voting Right of Listed Company

资本多数决原则是股东表决以及股东大会作出决议的首选规则及最为重要的基本原则,但其自身存在的缺陷使得大股东获得了超过其拥有的表决权原应获得的权利,存在少数大股东滥用表决权、损害公司利益和小股东权利的可能性。股东表决权限制机制是在坚持资本多数决原则的前提下对大股东的表决权进行适当的制约,在一定程度上能够有效防止大股东滥用表决权并对小股东的权利提供适当的保护,有助于真正实现股东的平等并达到大股东与小股东之间权利的平衡及利益的平衡。

The Majority Rule is the first choice shareholder to exercise voting right and and the most important basic rule for the the shareholder meeting to make decisions. But its own defects cause the majority shareholder to acquire more rights than that he should have, and consequently make it possible for the majority shareholder to abuse his voting right and infringe upon interests of the company and the minority shareholder. The restricting mechanism of shareholder voting constrains the voting right of the majority shareholder while sticking to the Majority Rule, and to some extent, can prevent the majority shareholder from abusing of voting right and provide proper protections to the rights of minority shareholder, thus is helpful to realize the equality of shareholders and achieve balance of the rights and interests between majority shareholder and minority shareholder.