Title: Legal Norms of Shareholders' Governance Contract
Abstract: In Company Law of 2005 of China,the scope of company's autonomy was greatly enlarged.However,the legal norms related to the shareholders' agreement are still inadequate.In practice,the corporate legal and governance structure has been replaced by the shareholders' governance contract,which has the advantage of low organizing cost with much flexibility,but it still can't effectively solve the intrinsic agency problem due to its influence on the prospects of various corporate participants.Hence,shareholders' governance contracts should be ratified in the Chinese legislation,which will rationalize related legal measures,and maintain balance between the basic interests of various corporate participants.
Publication Year: 2012
Publication Date: 2012-01-01
Language: en
Type: article
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