Research concerning the Legal Regulation by the Company Law against the Ring-shaped Cross Holding of Stocks in the Business Group or the Company Group
| Project/Area Number |
04620018
|
|---|
| Research Category |
Grant-in-Aid for General Scientific Research (C)
|
| Allocation Type | Single-year Grants |
|---|
| Research Field |
Civil law
|
|---|
| Research Institution | Chiba University |
|---|
Principal Investigator |
ENDOH Yoshiteru Chiba University, Faculty of Law & Economics Professor, 法経学部, 教授 (10152026)
|
|---|
| Project Period (FY) |
1992 – 1993
|
| Project Status |
Completed (Fiscal Year 1993)
|
| Budget Amount *help |
¥1,400,000 (Direct Cost: ¥1,400,000)
Fiscal Year 1993: ¥500,000 (Direct Cost: ¥500,000)
Fiscal Year 1992: ¥900,000 (Direct Cost: ¥900,000)
|
|---|
| Keywords | Company group / Business group / Cross-holding of stocks / Konzern regulation / Disclosure requirement / Outside auditor system / Ring-shaped holding of stocks / Reallocation of decision making powers / コンツエルン規制 / 配当性向 / 営利性構造の歪曲化 / 資本空洞化 / 会社支配権の歪曲化 / 法人株主化 / 情報開示規制 / 時価評価 / 国際会計基準 / 相式相互保有 |
|---|
| Research Abstract |
It has been criticized that the closeness, exclusiveness or non-transparency of the Japanese business society is caused by the cross-holding of stocks in the business group or the company group. I have made legal researches on the subject of this cross-holding of stocks, especially the ring-shaped holding of stocks in the business group in order to propose any corrective legal measures. A summary of this research report in the field of the company law is as follows. At first, the disclosure requirement should be strengthened concerning the cross-holding of stocks including the ring-shaped holding and the business activities in the business group. Secondly, the new Konzern regulation should be introduced to the company law and any particular regulations against the cross-holding of stocks should be considered in such a Konzern regulation. Thirdly, the outside auditor system should be strengthened and the decision making powers should be reallocated at least in a publicly held company. Fourthly, the present legal regulation against business transactions is positively necessary to be continued. Fifthly the fundamental policy should be seriously considered in order to improve the dividend ratio in a publicly held company. However, we should be very cautious of considering the specific control of the dividend in case of the cross-holding of stocks.
|
Report
(3 results)
Research Products
(7 results)
