类别股制度功能解析  

A Study on the Function of Classed Shares

作　　者：周海挺[1] 

机构地区：[1]复旦大学法学院,上海200438

出　　处：《理论界》2015年第8期88-95,共8页Theory Horizon

摘　　要：类别股是一种融合了股权和债券特征的投融资工具。通过对盈余分配、剩余分配、表决权、转换权、回赎权等权利的组合而创制的类别股,具有多重制度功能,既可以满足投资者多样化的投资偏好,又为缓解企业融资困局提供选择的可能性,还在完善股权结构、构建股东之间的控制权关系以及防御敌意并购等方面为公司治理提供科学合理的制度安排。The classed shares are generated after independent allocation of shares rights, which grants it dual attributes creditors＇ rights and shareholders＇ rights. The foundation of this kind of shares is the moderate separation of property rights and control rights. The classed shares system is used to achieve this shares＇ functions and the total norms of law related with this shares system ＇ s substantive rights and procedural rights.As a tool of investment, financing and company management, the classed shares system ＇ s value is to expand ways for company＇ s shares financing, promote the modernization of corporation law and guarantee the actual equality of shares.

关 键 词：类别股 投资工具 融资工具 治理工具 

分 类 号：F8[经济管理]