论我国上市公司对外担保制度的完善

发布时间：2018-03-21 13:15

本文选题：上市公司　切入点：对外担保　出处：《江西财经大学》2013年硕士论文　论文类型：学位论文

【摘要】：随着我国市场经济的发展以及公司法的改革,对于上市公司对外担保行为从曾经的禁止、严格控制逐步转变为允许。公司对外担保作为一种正常的融资保证行为,为正常的营业活动所需要,同时也是担保法所倡导的社会正常的经济现象。担保制度促使债务人及时履行债务,降低债权风险,强化债权信用,确保债权实现,在维护市场经济秩序方面起到重要作用。但是,担保同时会带来一定的风险,如果债务人不能偿还债务,提供担保的公司必须承担责任,公司的股东和债权人的利益将受到损害。近年来,我国上市公司对外担保出现了一些问题,严重影响了市场经济秩序。我国涉及对外担保的上市公司数量逐年递增,担保金额巨大；关联担保现象严重,出现一系列“担保圈”、“担保链”；恶意担保、违规担保现象严重；逾期担保事件频现,由此产生的诉讼明显增多。出现这一系列的问题,笔者认为是由于国内的融资渠道匮乏,不能满足公司的融资需求；公司内部“一股独大”的股权结构不合理；相关法律法规不健全,难以规制违规担保行为；银行业金融机构借款程序和贷后管理机制存在漏洞等原因。比较分析英美法系和大陆法系几个国家的立法,笔者看出其他国家立法大多没有否定上市公司的对外担保能力,而是一般对于公司对外担保采取形式或实质的标准进行限制。笔者认为我国应当学习国外成熟的立法规范,严格公司高管的忠实诚信义务,建立完善有效的信息披露制度并严格违法行为的法律责任。此外,笔者分析了我国上市公司对外担保在立法上的现状,认为新《公司法》及证监会发布的相关法规都较之前有了很大的进步,对规范上市公司对外担保行为具有一定的作用,但是仍有不足之处。我国立法对于担保圈、担保链等关联担保现象没有提出解决方案；信息披露制度不够完善；在小股东的权益保护和救济方面存在缺陷；对违规担保行为的法律责任的规制不够明确等。结合我国上市公司对外担保的现状,笔者在完善我国上市公司对外担保制度方面提出了一些建议。在法律法规方面,应当严格公司对外担保程序性规定,加强公司担保中的董事义务与责任,加强公司担保信息的披露,加大对违规行为的处罚力度；在上市公司内部治理制度方面,应由专门的独立董事负责对外担保事项,建立对外担保的风险评价体系,加强对担保项目的监控,实行不相容职务相互分离控制。
[Abstract]:With the development of China's market economy and the reform of company law, the behavior of external guarantee of listed companies has been changed from prohibition and strict control to permission. For normal business activities, it is also a normal social economic phenomenon advocated by the guaranty Law. The guarantee system urges the debtor to perform debts in a timely manner, reduces the risk of creditor's rights, strengthens the credit of creditor's rights, and ensures the realization of creditor's rights. Plays an important role in maintaining the order of the market economy. However, the guarantee also carries certain risks, and if the debtor is unable to repay the debt, the company that provides the guarantee must bear the responsibility. The interests of shareholders and creditors of the company will be compromised. In recent years, there have been some problems in the external guarantee of listed companies in China, which have seriously affected the order of the market economy. The number of listed companies involved in foreign guarantees is increasing year by year, the amount of guarantee is huge, and the phenomenon of associated guarantee is serious. There are a series of "guarantee circles", "guarantee chains"; malicious guarantees, illegal guarantee phenomenon is serious; overdue guarantee incidents occur frequently, resulting in a significant increase in litigation. This series of problems, the author believes that is due to the lack of domestic financing channels, It can not meet the financing needs of the company; the ownership structure of "one share alone" in the company is unreasonable; the relevant laws and regulations are not perfect, so it is difficult to regulate the illegal guarantee behavior; Banking financial institutions borrowing procedures and post-loan management mechanism has loopholes and other reasons. By comparing and analyzing the legislation of several countries in Anglo-American law system and civil law system, the author finds that most other countries have not negated the foreign guarantee ability of listed companies. The author thinks that our country should learn from foreign mature legislative norms and strictly enforce the duty of loyalty and good faith of company executives. To establish an effective information disclosure system and to strictly enforce the legal liability for illegal acts. In addition, the author analyzes the current situation of the legislation on the foreign guarantee of listed companies in China. It is considered that the new Company Law and the relevant laws and regulations issued by CSRC have made great progress compared with the previous ones, and have played a certain role in standardizing the behavior of listed companies' external guarantee, but there are still some shortcomings. There are no solutions to the related guarantee phenomenon such as guarantee chain; the information disclosure system is not perfect; there are defects in the protection and relief of minority shareholders' rights and interests; the regulation of legal liability for illegal guarantee is not clear enough. Combined with the current situation of foreign guarantee of listed companies in our country, the author puts forward some suggestions on perfecting the guarantee system of listed companies in our country. In terms of laws and regulations, the procedural provisions of external guarantee of companies should be strictly enforced. To strengthen the obligations and responsibilities of directors in the company's guarantee, to enhance the disclosure of the company's guarantee information, and to increase the punishment for violations; in the internal governance system of the listed company, a special independent director shall be responsible for the external guarantee matters, Establish the risk evaluation system of external guarantee, strengthen the supervision of guarantee project, and implement incompatible duties separation control.
【学位授予单位】：江西财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：D922.291.91

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