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, xiamen repurchase the action in 1996, 1999 yun and 'part can share the success of state-owned shares buy-back - this in that year to become one of the highlights of the securities market.Later, due to the company law limits, long-term market bear market, the lack of cash, stock repurchase began to decline.In 2005, under the drive of reform of non-tradable shares of listed companies, combined with the listed companies buy back shares the social public management approach (trial) 'come on stage and corresponding in the company law, modify, makes the stock repurchase and obtained the development, hangang shares become outstanding stock repurchase first, and then a lot more stock repurchase cases, the way of capital operation in our country developed Can be seen from the above laws and regulations, the current regulations on stock repurchase is general principle provision, more general, generalization, operability is not strong.Related laws and regulations, implementing rules or specific operation method is not, in the face of the current stock repurchase cases, have laws and regulations construction is somewhat lagging behind.Scope restrictions on share repurchase too strict, contrary to the development trend of international legislation, and also limits the development of the listed company space, for some of the definitions and rules are more vague, it will encourage the circumvention of the law, make the rules.If does not carry on the system specification of the system, and the disadvantages of the system itself will also gradually revealed, but may become an obstacle to the our country to perfect the corporate governance structure.Therefore, in order to meet the needs of the reality of China's capital market, clear stock repurchase of the legal barriers, as the rapid development of the company and protect the legitimate rights and interests of small and medium shareholders implementation of this purpose, China should establish a perfect legal system of stock repurchase as soon as possible.more and more good policy environment.

Because of information asymmetry in the capital markets, makes the small and medium-sized shareholders grasp of the information at a disadvantage, in the general meeting of shareholders to vote again in a few, and interests between large shareholders and minority shareholders information asymmetry, medium and small shareholders can only passive to accept stock buyback plan.So should obtain from the following three aspects, to ensure that the interests of minority shareholders against infringement: one is to improve the system of share repurchase information disclosure, each benefit main body relatively fair master information resources;Second, the objection to the interests of the shareholders claim compensation measures;Three are voting redesign of stock repurchase plan, as well as under the principle of 'a right to a' legal by number, and the majority of small and medium-sized shareholders agree, at least two-thirds, and the associated shareholders of listed companies shall comply with the withdrawal system, by non-affiliated shareholders to separate voting stock repurchase matters.In addition, when to buy back shares of listed companies adopt an offer best way, because it can highlight equality, more won't favors big shareholders or controlling shareholders.For the repurchase price, should according to the current market price and performance of listed companies to make sure,本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。