上市公司协议转让控制权中表决权委托问题研究  

Study on the"Delegation"of Voting Rights in the Control of Transfer of Agreements in Listed Companies

作　　者：伍坚[1] 李晓露[1] WU Jian;LI Xiaolu(Economic law School,East China University of Political Science and Law,Shanghai,200042,China)

机构地区：[1]华东政法大学经济法学院,上海200042

出　　处：《经济与管理》2020年第6期87-92,共6页Economy and Management

摘　　要：控制权转让与资本市场的稳定运行有着密切关系,在监管中理应受到关注。以2017年1月至2018年6月披露的“协议转让+表决权委托协议”相关公告,采用表决权委托方式实现控制权转让数量呈递增趋势,目前对委托的性质定性不明,法律适用存在缺陷,监管机构尚缺乏有效的治理模式,今后应从事前、事中、事后全方位着手,构建表决权信托制度,强化实际控制人的信义义务,建立公司内部审查机制,强化信息披露制度,增加股东救济渠道,以充分应对表决权委托滥用所引发的风险与难题。The transfer of control rights is closely related to the stable operation of the capital market and should be paid attention to in the supervision.The data of the“contract transfer+voting entrustment agreement”control mode changed frequently from January 2017 to June 2018 was carried out.The number of transfer of control rights was increased by voting entrustment.The current nature of“trust”was qualitative.Unknown,the application of the law is flawed,and the regulatory agencies still lack an effective governance model.In the future,they should engage in all aspects of pre-,post-,and post-event,build a voting trust system,strengthen the fiduciary duty of the actual controller,establish an internal review mechanism,and strengthen information disclosure.The system increases the share⁃holder relief channels to fully cope with the risks and difficulties caused by the abuse of voting rights.

关 键 词：控制权 实际控制人 表决权委托 表决权转让 表决权信托 

分 类 号：F830[经济管理—金融学]