上市公司中小股东利益保护诉讼机制分析——兼评新《公司法》、《证券法》对中小股东利益保护的诉讼安排

本文论述了股东代表诉讼和集团诉讼方式,对中小股东利益的保护作用及其缺陷,在肯定我国新《公司法》明确提出股东代表诉讼的重大意义下,提出应该积极引进集团诉讼,使股东代表诉讼和集团诉讼相结合,完善证券市场民事诉讼机制,从而更好得保护中小股东利益。     

诉讼标的与诉讼请求关系探析

诉讼标的问题是民事诉讼的核心问题 ,无论是法院从事审判活动 ,还是当事人进行诉讼活动 ,都是围绕诉讼标的这个中心展开的 ,但人们至今对诉讼标的的性质和识别问题无统一认识。诉讼标的与诉讼请求的关系是该理论中存在的诸多问题之一 ,本文拟从探讨诉讼标的的性质和识别问题入手 ,对两者之间的关系略加分析。     

Making the news: Heterogeneous media coverage and corporate litigation

Research summary: This study explores how relative prominence shapes rivalry between firms. Corporate litigation, an increasingly costly domain of interfirm rivalry, is threatening not just because of the immediate legal stakes but because of the indirect losses that unwanted negative publicity inflicts on defendants. I argue that potential defendants' incentives to avoid such losses create a source of value that firms can capture by agreeing to forgo litigation. The more prominent a firm is relative to rivals, the greater its threat and the more value it stands to capture from potential targets by sparing them from litigation. Managerial summary: The power to attract media attention can be valuable to firms beyond its role in managing relations with investors or the public. It can also provide leverage against industry rivals. Being sued by a prominent firm carries the threat of potential damaging publicity, especially for lesser‐known rivals. Firms may be able to leverage this threat to elicit concessions in return for sparing rivals from litigation. Prominent firms stand to benefit not just from eliciting concessions from rivals but from the ability to do so while avoiding costly litigation. Data from the semiconductor industry show that firms that command much higher levels of media coverage than rivals are able to avoid litigation more often than firms with comparable or lower levels of media coverage. Copyright © 2015 John Wiley & Sons, Ltd.     

群体纠纷解决机制的最新发展研究

随着世界经济一体化的发展,群体纠纷日益增多。世界各国都在努力寻找解决它的办法,我国也不例外。要解决好群体纠纷,必须明确其类型,以做到具体情况具体对待。同时,我们也要了解世界各国典型的群体纠纷解决类型,并对他们进行比较,只有这样我们才能更好地知道哪种方法适合我们国家。最后,要想更好地解决群体纠纷,就要明确群体诉讼在我国的事实与法律现状以及存在的问题,以求努力解决之。     

刍议行政诉讼第三人的确认：原告资格特殊性判定下的类型化标准

在业已启动的诉讼程序中依法参加诉讼的当事人为诉讼第三人,确认诉讼第三人必然会受到本诉的制约,而立法对行政诉讼第三人如何确认只有粗略规定,理论研究也相对薄弱,这与行政审判客观上要求对相关各方利益做出公正裁断的矛盾十分突出。对行政诉讼第三人的确认,应结合行政实体法运作所产生的法律关系的外延和司法审查的有限性及被诉具体行政行为变化的可能性,综合判断,区分类型。     

中国ICT企业应对NPE专利风险策略研究——基于事件系统理论的案例分析

NPE（Non-Practicing Entities）是一类拥有大量专利但不利用专利从事产品制造的专利运营组织，其存在饱受争议。无线未来将索尼上诉至南京中院标志着国外NPE首次将诉讼战火延烧至中国，引起各界广泛关注。客观公正地认识NPE，以恰当的策略应对外国NPE带来的专利风险，对中国ICT企业十分重要。在文献回顾的基础上，澄清有关NPE的认识并给出NPE的定义；利用事件系统理论对中国首例NPE对ICT企业专利诉讼案进行分析，构建基于事件系统理论的NPE在华专利风险评估模型；从应对NPE专利诉讼被动事件和发起专利保护主动事件两个角度，提出我国ICT企业防范和规避NPE专利风险的建议。     

董事高管责任保险与企业差异化战略

文章基于风险承担与保险对冲视角，考察董事高管责任保险对企业差异化战略的影响及其作用机理。研究发现：董事高管责任保险的风险对冲效应有助于管理层实施差异化战略，在民企以及诉讼风险较高的企业中，董事高管责任保险发挥更强的风险兜底作用；当采用高管海外经历作为工具变量控制潜在的内生性问题后，结论依然稳健。进一步分析表明，董事高管责任保险主要通过“激励效应”而非“自利效应”影响管理层实施差异化战略，且购买董事高管责任保险的企业风险承担水平较高、战略进攻性较强以及研发创新较多（研发型专利和外观型专利）。文章研究结论不仅丰富了董事高管责任保险和企业差异化战略的相关文献，还有助于全面认知董事高管责任保险的公司治理效应，为董事高管责任的全面推广及企业战略决策的选择提供了经验证据。     

Insider trading in loss firms

This study investigates whether insiders in loss firms trade their company stock differentially around new loss and loss reversal earnings announcements. Research suggests that the likelihood of litigation influences managers' stock trading decisions prior to material events. I hypothesize and find that insiders reduce their net stock sales in a monotonic manner before a new loss announcement presumably to avoid improper trading allegations before bad news. This decrease is more pronounced if the new loss is the start of a multiple loss sequence. In contrast, there is no significant change in net trading patterns in the quarters prior to a loss reversal announcement irrespective of whether the loss reversal is the start of a single profit or multiple profit sequence indicating that insiders seem less concerned about legal implications when trading before good news. The results suggest that insiders in loss firms perceive asymmetric litigation risks to trading stock in the quarters before bad news relative to good news and act accordingly.