企業併購法下收買請求權之股東權益保護－兼論日本企業併購下股份收買請求權制度

NCUIR > School of Management at National Central University > Executive Master of Industrial Economics > Electronic Thesis & Dissertation > Item 987654321/86265

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Title:	企業併購法下收買請求權之股東權益保護－兼論日本企業併購下股份收買請求權制度
Authors:	張?;Chang, Chun
Contributors:	產業經濟研究所在職專班
Keywords:	股份收買請求權;公開收購;二階段收購;資訊揭露;公平價格;控制權溢價;壓迫性;Appraisal Right, Public Tender Offer, Two-tier Tender Offer, Information Disclosure, Fair Price, Control Premium, Coercion.;Public Tender Offer;Two-tier Tender Offer;Information Disclosure;Fair Price;Control Premium;Coercion
Date:	2021-07-27
Issue Date:	2021-12-07 12:23:49 (UTC+8)
Publisher:	國立中央大學
Abstract:	本文主要在探討公司合併、收購及其他變?營運政策之重大?為等涉及公司基本結構與營業政策之?為時，就股份有限公司而言，股東有權表示是否支持由董事會所支持之提案，若反對該議案之股東則得請求公司以合?價格買回其持有之股份，此為股份收買請求權之真意。首先介紹併購之現行法制及類型，並討論對應之董事義務及股東權利，帶出股份收買請求權制度之起源與目的，並介紹我國股份收買請求權制度、行使程序，及探討與收買請求權相關之控制權溢價議題、二階段收購可能造成之壓迫性問題。接著觀察實務判決之內容以檢視我國股份收買請求權制度是否符合制度設計之目的與現行需求。另從比較日本法之觀點，以日本企業併購之沿革及市場背景為切入，介紹日本企業間常見之併購手法及相關法制之規範。接著以日本企業併購中股份收買請求權之具備全收購條款之類別股份、新股預約權等實務內容等進入判例分析，以了解日本法對於收買請求權之見解與態度，以為我國之借鏡。最後，總結我國股份收買請求權制度尚可發展之處與應達成之功能，反思現行法制與運作是否確實符合制度設計目的，試就未完備之處提出建議，期盼能透過良善的股份收買請求權制度，得以協助企業提升經營效率並兼顧少數股東權益保障。 ;This thesis mainly discusses merger or acquisition and others acts will affect enterprise operating, in the case of a company limited by shares, shareholders have the right to express whether they support a proposal supported by the board of directors and shareholders who oppose the proposal may request the company to buy back their shares at a reasonable price. This is the true meaning of appraisal right. First, introduce the current legal system and types of mergers and acquisitions, and discuss the corresponding directors’ obligations and shareholder rights, bring out the origin and purpose of the rule of appraisal right, and introduce the procedures in Taiwan, also discuss the control premium issues related to the appraisal right, and the coercion issues that may be caused by the two-tier tender offer. Then observe the content of the actual judgment to examine whether the rule of appraisal right of meets the purpose of system design and current needs in Taiwan. In addition, from the perspective of comparing Japanese law, taking the history and market background of Japanese corporate mergers and acquisitions as an entry point, introduce common mergers and acquisitions among Japanese companies and related legal regulations. Then, the practical content such as class shares subject to wholly call and share options in Japanese corporate mergers and acquisitions, go into the case analysis, to understand the views and attitudes of Japanese law for the rule of appraisal right, to be a reference for Taiwan. Finally, summarize the development of the rule of appraisal right and the functions that should be achieved in Taiwan, reflect on whether the current legal system and operation actually meet the purpose of the system design, then try to make suggestions on the incompleteness, and look forward to a better rule of appraisal right. It can help companies improve their operating efficiency and take into account the protection of minority shareholders′ rights and interests.
Appears in Collections:	[Executive Master of Industrial Economics] Electronic Thesis & Dissertation

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