《亚洲滥用关联交易监管实用指南》评述及启示

发布时间：2018-04-15 23:24

  本文选题：亚洲 + 关联交易　； 参考：《法学》2011年05期

【摘要】：亚洲企业特殊的简单控制的所有权和金字塔式的所有权结构,使得这种高度集权的股权结构与欧美分散的股权结构相比,更容易滋生关联交易。关联交易在亚洲更为盛行,滥用关联交易现象较为普遍亦不足奇。经合组织亚洲公司治理圆桌会议起草了旨在控制滥用关联交易的监管指南,即《亚洲滥用关联交易监管实用指南》,以期为亚洲各国、各地区提供技术援助。该指南对中国的关联交易监管立法亦具有重要的指引性作用。2011年3月8日上海证券交易所也颁布了《上海证券交易所上市公司关联交易实施指引》。结合两种指南提出如下建议:确立公平与效率兼顾的关联交易的监管价值取向,选择披露与股东批准的双重监管路径,通过优化表决机制、发挥独立董事与审计师守门员作用等完善公司内部治理,并提议明确控股股东诚信义务、引进集团诉讼、小股东的估价权救济等司法救济手段以强化关联交易的外部监管。
[Abstract]:The special simple control ownership and pyramidal ownership structure of Asian enterprises make this highly centralized ownership structure easier to breed related party transactions than the decentralized ownership structure in Europe and the United States.Related party transactions are more prevalent in Asia, the abuse of related party transactions is more common phenomenon is not surprising.The OECD Asian Corporate Governance Roundtable has drafted a regulatory guide to control abuse of related party transactions, the practical Guide to the Regulation of abuse of related transactions in Asia, with a view to providing technical assistance to Asian countries and regions.The guide also plays an important guiding role in the regulation of related party transactions in China. On March 8, 2011, the Shanghai Stock Exchange also promulgated the implementation guidelines for related Party transactions of listed companies on the Shanghai Stock Exchange.Combined with the two guidelines, the following suggestions are put forward: to establish the regulatory value orientation of related party transactions with both fairness and efficiency, to choose the dual regulatory path of disclosure and shareholder approval, and to optimize the voting mechanism.In order to strengthen the external supervision of affiliated transactions, it is proposed to make clear the fiduciary obligation of controlling shareholders, to introduce group litigation, and to remedy minority shareholders' valuation right.
【作者单位】： 华东政法大学;安徽警官职业学院;
【分类号】：F831.51
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本文编号：1756297