On the Protection of Minority Stockholders
保护广大投资者尤其是中小股东的合法利益是证券市场能否健康发展的重要环节。我国上市公司控股股东利用对公司的控制 ,违背对中小股东的诚信责任 ,侵害中小股东利益的事件时有发生。其原因是多方面的 ,如公司制改造不完全、股权结构不合理、公司治理结构不健全、法规不完善等。必须采取相应的措施保护中小股东的利益。The protection of minority stockholders is the key to capital market to develop healthily. In China,however,the controlling stockholders (major stockholders) often departure their fiduciary duty to minority stockholders and take advantage of the controlling over the list companies to aggrieve the benefits of minority stockholders. The causes include:the incompletion of transforming to corporation system,the lack of liquidity of stock equity structure,the lack of perfect corporation system,the lack of liquidity of stock equity structure,the lack of perfect corporate governance and practicable laws to protect minority stockholders,etc. We must take steps to protect the investors,especially minority stockholders.