双层股权结构本土化的反思

Reflection on the localization of dual class share structure

交易所竞争、公司治理完善、混合所有制改革等现实问题驱动了双层股权结构在我国的落地。双层股权结构的核心功能为控制权维持,在推行双层股权结构本土化时,应树立匹配监管的理念,以制度的自我约束和公司治理内外部监督机制的强化来建立契合我国法治土壤的双层股权结构制度体系。

Exchange competition,corporate governance improvement,mixed ownership reform and other realistic problems have promoted the implementation of dual class share structure in China.The core function of dual class share structure is to maintain its control rights.The localization of dual class share structure should be carried out prudently and the idea of matching supervision should be set up.If supported by system self-restraint and the strengthening of the internal and external supervision mechanism of corporate governance,we can expect to establish an institutional system in the soil of China′s law system.