论股份回购中信息披露制度的立法完善  

Improving Legislation on the Information Disclosure System in the Course of Shares Repurchase

作　　者：李晓春[1] 朱道华 林瑞青 

机构地区：[1]佛山科学技术学院法学研究所,广东佛山528000

出　　处：《佛山科学技术学院学报（社会科学版）》2010年第2期65-67,共3页Journal of Foshan University(Social Science Edition)

基　　金：广东省高等院校学科建设项目<公司取得自己股份制度研究>

摘　　要：在股份回购中,由于公司大股东和管理者占有信息优势,往往借此进行内幕交易和市场操纵,损害中小股东的利益。故需要法律对信息披露制度进行有效规范,而我国证券法并未将公司股份回购行为作为应披露的重大事件,且未要求公司披露股份回购的具体细节,这很容易使管理者和大股东利用所掌握的信息谋取私利,侵害其他中小股东利益,危害公正的证券交易秩序,故应予以完善。There always exists the asymmetry of information in the security market.The majority of shareholders and managers can undertake insider trading and market manipulation by making use of inside information,which will lead to injuring the interests of the minority of shareholders.It＇s important for legislation to regulate the system of information disclosure and require companies to disclose material information in the course of shares repurchase.The information of shares repurchase should be regarded as inside information and required to disclose.Moreover,the details of shares repurchase should be required to disclose by companies too.But unfortunately there exist some shortcomings inChina＇s security law,so it＇s necessary to perfect the legislation.

关 键 词：股份回购 信息不对称 信息披露 立法完善 

分 类 号：D912.29[政治法律—民商法学]