股份回购是指股份有限公司购回本公司已发行在外的股份的法律行为。具体来说 ,是通过购回本公司一定数额的已发行在外股票来实现股份的回购。从实践来看 ,股份回购易生不少弊端 ,如违反资本维持原则、股东平等原则及导致股份不公正交易等。但股份回购并不完全都是消极的 ,它具有在公司资本变动时适时调整公司资本、财务结构及防止恶意收购、实现公司激励计划等积极意义。鉴此 ,对股份回购进行合理规制 ,并建立符合我国实际的股份回购制度 ,则显得尤为必要。
The Share repurchase is the legal act that a stock company repurchase its own emitted shares. Concretely, how to achieve the share repurchase is by repurchasing amount of own company's emitted stock. In practice, the share repurchase brings much abuse easily, such as disobeying the rule of capital maintaining and shareholder's equality and leading to unjust bond bargain etc. But the share repurchase isn't negative completely. It contains positive meaning of adjusting company's capital timely and financial structure, preventing vicious purchase and achieving company's inspiriting plan. So it is necessary to restrict the share repurchase system which is fit for our country's condition.
Tribune of Political Science and Law(Journal of China University of Political Science and Law)