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    政大機構典藏 > 法學院 > 法律學系 > 學位論文 >  Item 140.119/32770
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/32770


    Title: 美國母子公司合併子公司少數股東保護之研究—兼評台灣實務案例與相關規範設計之缺憾
    Authors: 盧曉彥
    Lu, Hsiao-Yen
    Contributors: 方嘉麟
    Faung, Kai-Lin
    盧曉彥
    Lu, Hsiao-Yen
    Keywords: 母子公司合併
    制式合併
    簡易合併
    換股合併
    現金逐出合併
    關係企業
    財產法則
    補償法則
    公司治理
    自己交易
    利益衝突交易
    經營判斷法則
    受任人義務
    注意義務
    忠實義務
    控制股東
    完全公平測試標準
    公平交易
    公平價格
    股份收買請求權
    市場出脫例外
    直接訴訟
    禁制令
    Date: 2004
    Issue Date: 2009-09-17 14:24:55 (UTC+8)
    Abstract: 本文研究重點係母子公司合併時子公司少數股東權益保障的爭議問題,並嘗試從美國法之觀點檢討我國母子公司合併案例與相關之規範設計。

    從美國德拉瓦州法院對於母子公司合併規範模式之演變,應可察覺一國法制總體面因素的變化,以及合併基礎法制變遷,對於母子公司合併規範設計之影響。總體面因素諸如當代公共政策的游移、投資人與市場周邊機制之成熟度、公司內部治理機制的健全、社會思潮的偏向等;合併基礎法制幾個重大變遷,包括可決合併門檻多數決原則之確立、簡易以及制式現金逐出合併之陸續完成立法等,在在都影響了法院對於母子公司合併之規範態度。法院的態度變化,也顯現在子公司少數股東所擁有之兩項救濟,亦即股份收買請求權以及違反受任人義務訴訟救濟,在近一世紀以來,其起初係平行發展、繼而相互競爭至目前走向調和之變遷過程。而在過程中,違反受任人義務的內涵與課責標準一直持續變化,連帶地也影響股份收買請求權理論基礎的汰換、調整與新生。

    德拉瓦州法院對於母子公司合併的處理方式,是區分簡易合併與制式合併而適用不同的規範模式。制式合併係適用「財產法則」概念下之常規交易審查模式,違反常規交易標準即屬違反受任人義務;簡易合併則因為協商成本太高,所以適用「補償法則」,以股份收買請求權為唯一救濟。此項規範模式,很顯然地是一種妥協之處理方式。尤其股份收買請求權之相關配套設計,包括評價得否採計合併綜效、救濟成本之負擔方式以及程序障礙設計猶存諸多問題,採取「補償法則」背後的考量因素或許正是為便利母公司執行合併。

    從美國德拉瓦州公司法母子公司合併規範設計之歷史演變,比較我國目前現階段的母子公司合併規範之設計,大體說來,由於我國公司法與企業併購法之規範設計不利於子公司與母公司進行協商、再加上董事以及控制股東(亦即母公司)對於子公司之股東並無直接負受任人義務,在子公司股東無法對於不公平的合併對價,直接請求董事或母公司負擔損害賠償責任的情況下,將很難期待子公司的董事會盡力為子公司少數股東,向母公司爭取公平的合併對價。

    換言之,由於我國受任人義務體系之不完備,少數股東縱然認為合併對價涉及不公情事,似乎也祇能依照民法侵權行為之規定,向董事或母公司請求損害賠償。按照民法第一八四條之規定,其舉證責任門檻事實上即相當於美國法對於簡易合併場合之規範。亦即是說,我國法似乎並無特別針對母子公司合併此項具有利益衝突之重大交易,提出任何有別於常規交易之差異規範,此即導致子公司少數股東僅能按照一般侵權行為之規範,請求母公司或董事負擔損害賠償責任,這對於少數股東而言,自是甚為不利。

    短期而言,從經濟政策上係鼓勵合併,抑或從我國公司內部治理機制以及市場機制尚未健全發展至足以提供子公司相當之協商力量以與母公司抗衡的角度,我國似乎都無法在仿效美國於制式合併場合,建立偏向「財產法則」概念下之「近似常規交易協商模式」。因此,現階段或應思考從改善我國股份收買請求權設計開始著手。對此,ALI Principles與RMBCA有關股份收買請求權設計之立法例,我國應擇其優而加以援用。

    長期而言,按照我國現階段的規範趨勢,似乎係在仿效美國法制,逐漸朝向市場導向之公司治理機制(market-oriented style of corporate governance),因此持續開拓我國資本市場的深度與廣度,以及建立適合於我國公司生態的公司內部治理機制,都將是繼續努力的目標。倘若未來我國市場之周邊機制與公司內部治理機制皆能發揮適當的治理功能,前述偏重於「補償法則」概念下規範模式之股份收買請求權設計,即有必要加以調整,以避免美國現階段在現金逐出合併場合所發生之「規範重疊」(regulation overlap)問題。
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    陳肇鴻(2000),《由經濟觀點論董事之行為規範與責任制度》,台大法研所未出版碩士論文。
    許美麗(1998),《股東代位訴訟制度之研究》,政大法研所未出版博士論文。
    許復欣(2001),《董事信託義務之研究—以注意義務為中心》,中原大學財經法律系未出版碩士論文。
    黃銘傑(2002),〈企業併購法之檢討與省思〉,發表於國立政治大學法學院財經法新趨勢研討會(七),第二場次,頁1-52。
    劉公偉(2000),《公司法有限責任之經濟分析》,台大法研所未出版碩士論文。
    盧俊誠(1986),《論股份有限公司董事之法律地位與權限—經營判斷法則之研究》,政大法研所未出版碩士論文。
    (三)其他
    中華徵信所(2002),《台灣地區集團企業研究》,台北,中華徵信所企業股份有限公司。
    司法院、政大法研所合譯(1987),《美國法律整編第四冊—判決法、財產法、回復法》,台北,司法院。
    財團法人中華民國證券暨期貨市場發展基金會(2001),《我國公司治理》。
    國立中興大學法律系(1993),行政院公平交易委員會於八十二年委託中興大學法律系之研究計畫(三)《關係企業與公平交易法有關問題之研究》期末研究報告。
    台灣證券交易所,網址為〈http://www.tse.com.tw/〉。
    公開資訊觀測站,網址為〈http://mops.tse.com.tw/〉。
    證券暨期貨市場發展基金會,資訊王—證券資訊整合資料庫,網址為〈http://www.sfi.org.tw/newsfi/intdb/menu/firstpage.asp〉。
    《商業周刊》,網址為〈http://www.bwnet.com.tw/〉。
    二、英文部分
    (一)書籍
    American Law Institute (1994), Principles of Corporate Governance: Analysis and Recommendations Ⅰ. St. Paul, Minn.: American Law Institute Publisher.
    ____ (1994), Principles of Corporate Governance: Analysis and Recommendations Ⅱ. St. Paul, Minn.: American Law Institute Publisher.
    Berle, Adolf A., Jr. and Means, Gardiner C., (1968), The Modern Corporation And Private Property (Revised ed.). New York: Harcourt, Brace & World.
    Block, Dennis J., Barton, Nancy E., Radin, Stephen A. (1998), The Business Judgment Rule Fiduciary Duties of Corporate Directors Ⅰ(5th ed.). New York: Aspen Law & Business.
    Blumberg, Phillip I. (1987), The Law of Corporate Groups: Substantive Law. Boston: Little, Brown And Company.
    Brodsky, Edward and Adamski, M.Patricia (1995), Law of Corporate Officers and Directors Rights, Duties and Liabilities. New York: Clark Boardman Callaghan.
    Clark, Robert C. (1986), Corporate Law. Boston: Little, Brown And Company.
    Coase, Ronald H. (1988), The Firm The Market and The Law. Chicago: The University of Chicago Press.
    Cox, James D. (2000), Corporations (3rd ed.). West Group .
    Dietrich, Michael (1994), Transaction Cost Economics and Beyond—Toward A New Economics of The Firm. New York: Routledge.
    Dooley, Michael P. (1995), Fundamentals of Corporation Law. New York: The Foundation Press.
    Easterbrook, Frank H. and Fischel, Daniel R. (1998), The Economic Structure of Corporate Law (4th printing). Cambridge: Harvard Univ Press.
    Emanuel, Steven L. (1992), Corporations (2nd ed.). New York: Emanuel Law Outlines, Inc..
    Gevurtz, Franklin A. (2000), Corporation Law. St. Paul, Minn.: West Group.
    Gilson, Ronald J. and Black, Bernard S. (1995), The Law and Finance of Corporate Acquisitions (2nd ed.). New York: The Foundation Press.
    Hamilton, Robert W. (1994), Corporations Including Partnerships And Limited Partnerships Cases And Materials (5th ed.). St. Paul, Minn.: West Publishing Co..
    ____ (1996), The Law of Corporations in a Nutshell (4th ed.). St. Paul, Minn.: West Publishing Co..
    Henn, Harry G. and Alexander, John R. (1983), Laws Of Corporations (3rd ed.). St. Paul, Minn.: West Publishing Co.
    Jennings, Richard W., Marsh, Harold, Jr., Coffee, John C. Jr., and Seligman, Joel (1998), Securities Regulation: Cases and Materials (8th ed.). New York: Foundation Press.
    Lajoux, Alexandra R. and Elson, Charles (2000), The Art of M&A Due Diligence: Navigating Critical Steps & Uncovering Crucial Data. New York: Mcgraw-Hill.
    Loss, Louis and Seligman, Joel (1995), Fundamentals of Securities Regulation. New York: Aspen Law & Business.
    Monks, Robert A.G. and Minow, Nell (2001), Corporate Governance (2nd ed.). New York: Blackwell Publishers Ltd.
    Posner, Richard A. (1998), Economic Analysis Of Law (5th ed.). New York: Aspen Law & Business
    Reed, Stanley F. and Lajoux, Alexandra R. (1999), The Art of M&A: A Merger Acquisition Buyout Guide (3rd ed.). New York: Mcgraw-Hill.
    Seligman, Joel (1995), Corporations: Cases and Materials. Boston: Little, Brown And Company.
    Solomon, Lewis D., Schwartz, Donald E., Bauman, Jeffrey D. and Weiss, Elliott J. (1994), Corporations Law and Policy Materials and Problems (3rd ed.). St. Paul, Minn.: West Publishing Co..
    Solomon, Lewis D. and Palmiter, Alan R. (1994), Corporations: Examples and Explanations (2nd ed.). Boston: Little, Brown And Company.
    Stone, Alan (1982), Regulation and its Alternatives. Washington, D.C.: Congressional Quarterly Press.
    Welch, Edward P. and Turezyn, Andrew J. (1993), Folk on the Delaware General Corporation Law: Fundamentals. Boston: Little, Brown and Company.
    Williamson, Oliver E. (1996), The Mechanisms of Governance. New York: Oxford Univ. Press, Inc..
    (二)期刊論文
    Allen, William, Jacobs, T. Jack B. and Strine, Leo E. Jr. (2001),“Function over Form: A Reassessment of Standards of Review in Delaware Corporation Law”, Delaware Journal of Corporation Law 26: 859-895.
    ____ (2002),“Symposium: Realigning the Standard of Review of Director Due Care with Delaware Public Policy: A Critique of Van Gorkom and its Progeny as a Standard of Review Problem”, Northwestern University Law Review 96: 449-466.
    Aronstam, Bradley R., Balotti, R. Franklin and Rehbock, Timo (2003), “Delaware’s Going-Private Dilemma: Fostering Protections for Minority Shareholders in the Wake of Siliconix and Unocal Exploration”, The Business Lawyer 58: 519-558.
    Balotti, R. Franklin, Elson, Charles M. and Laster, J. Travis (2000),“Equity Ownership and the Duty of Care: Convergence, Revolution, or Evolution ?”, The Business Lawyer 55: 661-692.
    Balotti, R. Franklin and Hinsey, Joseph Ⅳ (2000),“Director Care, Conduct, and Liability: The Model Business Corporation Act Solution”, The Business Lawyer 56: 35-61.
    Bebchuk, Lucian Arye and Kahan, Marcel (1989),“Symposium: Fundamental Corporate Changes: Causes, Effects, and Legal Responses: Fairness Opinions: How Fair Are They and What Can Be Done About It ?”, Duke Law Journal 1989: 27-53.
    Berger, Carolyn and Allingham, Thomas J. Ⅱ (1983),“A New Light on Cash-out Mergers: Weinberger Eclipses Singer”, The Business Lawyer 39: 1-24.
    Booth, Richard A. (1985),“” Management Buyouts, Shareholder Welfare, and the Limit of Fiduciary Duty, New York University Law Review 60: 630-664.
    Bratton, William W., Jr. (1989),“The “Nexus of Contracts”Corporation: A Critical Appraisal”, Cornell Law Review 74: 407-465.
    Brown, Grover C., Maimone, Michael J. and Schoell, Joseph C. (1998),“Director and Advisor Disinterestedness and Independence under Delaware Law”, Delaware Journal of Corporation Law 23: 1157-1201.
    Brudney, Victor (1983),“Equal Treatment Of Shareholders In Corporate Distributions And Reorganizations”, California Law Review 71: 1072-1133.
    ____ (1997),“Contract and Fiduciary Duty in Corporate Law”, Boston College Law Review 38: 595–665.
    ____ (2000),“Revisiting the Import of Shareholder Consent for Corporate Fiduciary Loyalty Obligations”, The Journal of Corporation Law 25: 209-240.
    Brudney, Victor and Chirelstein, Marvin A. (1974),“Fair Shares in Corporate Mergers and Takeovers”, Harvard Law Review 88: 297-346.
    ____ (1978),“A Restatement of Corporate Freezeouts”, Yale Law Journal 87: 1354-1376.
    Burgman, Dierdre A. and Cox, Paul N. (1984),“Reappraising the Role of The Shareholder in the Modern Public Corporation: Weinberger’s Procedural Approach to Fairness in Freezeouts”, Wisconsin Law Review 1984: 593-665.
    Buxbaum, Richard M. (1985),“The Internal Division of Powers in Corporate Governance”, California Law Review 73: 1671-1734.
    Calabresi, Guido and Melamed, A. Douglas (1972),“Property Rules, Liability Rules, and Inalienability: One View of the Cathedral”, Harvard Law Review 85: 1089-1128.
    Calio, Joseph Evan (1994),“New Appraisals of Old Problems: Reflections on the Delaware Appraisal Proceeding”, American Business Law Journal 32: 1-68.
    Campbell, Rutheford B. Jr. (1995),“A Positive Analysis of the Common Law of Corporate Fiduciary Duties”, Kentucky Law Journal 84: 455-505.
    ____ (1999),“Fair Value and Fair Price in Corporate Acquisitions”, North Carolina Law Review 78: 101-152.
    ____ (2003),“The Impact of Modern Finance Theory in Acquisition Cases”, Syracuse Law Review 53: 1-48.
    Carney, William J. and Heimendinger, Mark (2003), “Appraising the Nonexistent: The Delaware Court’s Struggle with Control Premiums”, University of Pennsylvania Law Review 152: 845-880.
    Chandler, Willaim B. Ⅲ, Strine, Leo E. Jr (2003), “The New Federalism of the American Corporate Governance Ssytem: Preliminary reflections of Two Residents of One Small State”, University of Pennsylvania Law Review 152: 953-1005.
    Cheung, Steven N.S (1983),“The Contractual Nature of the Firm”, Journal of Law and Economics 26: 1-21.
    Coates, John C. Ⅳ (1999), ““Fair Value”As an Avoidable Rule of Corporate Law: Minority Discounts in Conflict Transactions”, University of Pennsylvania Law Review 147: 1251-1359.
    Coffee, John C. Jr. (1996),“Transfers of Control and the Quest for Efficiency: Can Delaware Law Encourage Efficient Transactions While Chilling Inefficient Ones ?”, Delaware Journal of Corporation Law 21: 359-425.
    Comment (1984),“The Appraisal Remedy in Corporate Freeze-Out: Questions of Valuation and Exclusivity”, Southwestern University Law Journal 38: 775-798 (authored by Joseph M. Coleman).
    Comment (1985),“Valuation in the Context of Share Appraisal”, Emory Law Journal 34: 117-155 (authored by David Cohen).
    Comment (1986),“Weinberger to Rabkin: Fine Tuning the Doctrine of Corporate Mergers”, Delaware Journal of Corporation Law 11: 839-859 (authored by Michael Phillips).
    Comment (1986),“Regulation of Leveraged Buyouts to Protect The Public Shareholder and Enhance the Corporate Image”, Catholic University Law Review 35: 489-544 (authored by Gregory J. Schwartz).
    Comment (1987),“Formulating a Theory for Preliminary Injunctions: American Hospital Supply Corp. v. Hospital Products Ltd.”, Iowa Law Review 72: 1157-1170 (authored by Ann E. Heiny).
    Comment (1989), Cede & Co. v. Technicolor, Inc.: A Whole New Ball Game for Dissenting Shareholders, Delaware Journal of Corporation Law 14: 999-1023 (authored by Helen M. Richards).
    Comment (1991),“The Exclusivity of the Appraisal Remedy under the New North Carolina Business Corporation Act: Deciding the Standard of Review for Cash-out Mergers”, North Carolina Law Review 69: 501-550 (authored by Julie Gwyn Hudson).
    Commentary (1995),“Recent Developments in Delaware Corporate Law: Kahn v. Lynch Communication Systems, Inc.: A Major Step Toward Clarifying the Role of Independent Committees”, Delaware Journal of Corporation Law 20: 564-587 (authored by Jeffrey J. Clark).
    Committee on Corporate Laws (1988),“Guidelines for the Unaffiliated Director of the Controlled Corporation”, The Business Lawyer 44: 211-222.
    ____(1989),“Changes in the Model Business Corporation Act-Amendments Pertaining to Directors’ Conflicting Interest Transactions”, The Business Lawyer 44: 1307-1334.
    ____(1994),“Corporate Director’s Guidebook-1994 Edition”, The Business Lawyer 49: 1243-1289.
    ____(1997),“Changes in the Model Business Corporation Act-Amendments Pertaining to Electronic Filings/Standards of Conduct and Standards of Liability for Directors”, The Business Lawyer 53: 157-191.
    ____(1998),“Proposed Changes in the Model Business Corporation Act-Appraisal Rights”, The Business Lawyer 54: 209-283.
    ____(1999),“Changes in the Model Business Corporation Act Pertaining to Appraisal Rights and to Fundamental Changes- Final Adoption”, The Business Lawyer 55: 405-406.
    ____(2001),“Corporate Director’s Guidebook-Third Edition”, The Business Lawyer 56: 1575-1632.
    Corre, Isaac (2002),“Management and Control of The Modern Business Corporation: Corporate Control Transactions: Commentary on Fischel”, University of Chicago Law Review 69: 963-971.
    Davis, Kenneth B. Jr. (1985),“Judicial Review of Fiduciary Decisionmaking – Some Theoretical Perspectives (Part 2 Of 2)”, Northwestern University Law Review 80: 1-99.
    Dooley, Michael P. and Goldman, Michael D. (2000),“Some Comparisons Between the Model Business Corporation Act and the Delaware General Corporation Law”, The Business Lawyer 56: 737-766.
    Edelman, James J. (2001),“Restitution and Unjust Enrichment: Unjust Enrichment, Restitution, and Wrongs”, Texas Law Review 79: 1869-1878.
    Eisenberg, Melvin A. (1988),“Self-Interested Transactions in Corporate Law”, The Journal of Corporation Law 13: 997-1009.
    ____ (1993),“”The Divergence of Standards of Conduct and Standards of Review in Corporate Law, Fordham Law Review 62: 437-468.
    Eisenhofer, Jay W. and Reed, John L. (1997),“Valuation Litigation”, Delaware Journal of Corporation Law 22: 27–140.
    Elson, Charles M. (1992),“Fairness Opinion: Are They Fair or Should We Care ?”, Ohio State Law Journal 53: 951-1003.
    Elson, Charles M. and Thompson, Robert B. (2002),“Symposium: Van Gorkom’s Legacy: The Limits of Judicially Enforced Constraints and the Promise of Proprietary Incentives”, Northwestern University Law Review 96: 579-593.
    Fischel, Daniel R. and Bradley, Michael (1986),“The Role of Liability Rules and the Derivative Suit in Corporate Law: A Theoretical and Empirical Analysis”, Cornell Law Review 71: 261-297.
    Fischel, Daniel R. (2002), “Management and Control of the Modern Business Corporation: Corporate Control Transactions: Market Evidence in Corporate Law”, University of Chicago Law Review 69: 941-961.
    Gilson, Ronald J. and Gordon, Jeffrey N. (2003), “Controlling Controlling Shareholders”, University of Pennsylvania Law Review 152: 785-843.
    Goshen, Zohar (1997), “Controlling Strategic Voting: Property Rule Or Liability Rule?”, Southern California Law Review 70: 741-804.
    Goshen, Zohar (2003),“The Efficiency of Controlling Corporate Self-Dealing: Theory Meets Reality”, California Law Review 91: 393-438.
    Gouvin, Eric J. (1996),“Resolving the Subsidiary Director’s Dilemma”, Hastings Law Journal 47: 287-338.
    Grossbauer, John F. and Fischer, Matthew E. (2001),“Recent Developments in Delaware Corporation Law”, Delaware Law Review 4: 93-136.
    Hamilton, Robert W. (2000),“Corporate Governance in America 1950-2000: Major Changes but Uncertain Benefits”, The Journal of Corporation Law 25: 349-373.
    Herzel, Leo and Colling, Dale E. (1984),“Establishing Procedural Fairness in Squeeze-out Mergers after Weinberger v. UOP”, The Business Lawyer 39: 1525-1539.
    Heyman, Kurt M. and Enerio, Patricia L. (2001),“The Disappearing Distinction Derivative and Direct Actions”, Delaware Law Review 4: 155-189.
    Holmstrom, Bengt and Kaplan, Steven N. (2001), “Corporate Governance and Merger Activity in the United States: Making Sense of the 1980s and 1990s”, Journal of Economic Perspectives 15: 121-144.
    Iacono, Christopher A. (2003), “Tender Offers and Short-Form Mergers by Controlling Shareholders under Delaware Law: The “800-Pound Gorilla” Continues Unimpeded-In Re Pure Resources, Inc., Shareholders Litigation”, Delaware Journal of Corporation Law 28: 645-671.
    Jensen, Michael C. and Meckling, William H. (1976),“Theory of The Firm: Managerial Behavior, Agency Costs and Ownership Structure”, Journal of Financial Economics 3: 305-360.
    Johnson, Henry F. and Bartlett, Paul, Jr. (1993),“Is a Fistful of Dollars the Answer? A Critical Look at Dissenters` Rights under the Revised Model Business Corporation Act”, Journal of Law and Commerce 12: 211-233.
    Johnson, Jennifer J. and Siegel, Mary (1987),“Corporate Mergers: Redefining the Role of Target Directors”, University of Pennsylvania Law Review 136: 315-416.
    Johnson, Lyman (2000),“The Modest Business Judgment Rule”, The Business Lawyer 55: 625-652.
    Kanda, Hideki and Levmore, Saul (1985),“The Appraisal Remedy and the Goals of Corporate Law”, UCLA Law Review 32: 429-473.
    Koch, Charles H. Jr. (2003), “Envisioning a Global Legal Culture”, Michigan Journal of International Law 25: 1-76.
    Letsou, Peter V. (1998),“The Role of Appraisal in Corporate Law”, Boston College Law Review 39: 1121-1174.
    ____ (2001),“Theory Informs Business Practice: Implications of Shareholder Diversification on Corporate Law and Organization: The Case of the Business Judgment Rule”, Chicago-Kent Law Review 77: 179-210.
    Lorne, Simon M. (1978),“A Reappraisal of Fair Shares in Controlled Mergers”, University of Pennsylvania Law Review 126: 955-988.
    Manning, Bayless (1962),“The Shareholders’ Appraisal Remedy: An Essay for Frank Coker”, Yale Law Journal 72: 223-265.
    ____(1985),“Reflections and Practical Tips on Life in The Boardroom after Van Gorkom”, The Business Lawyer 41: 1-14.
    McGovern, Bruce A. (2002),“Fiduciary Duties, Consolidated Returns, and Fairness”, Nebraska Law Review 81: 170-282.
    Mitchell, Lawrence E. (1993),“Fairness and Trust in Corporate Law”, Duke Law Journal 43: 425-491.
    Note (1961),“Freezing out Minority Shareholders”, Harvard Law Review 74: 1630-1647.
    Note (1983),“Minority Shareholders and Cashout Mergers: The Delaware Court Offers Plaintiffs Greater Protection and A Procedural Dilemma -- Weinberger v. UOP, Inc., 457 A.2d 701 (Del. 1983)”, Washington Law Review 59: 119-140 (authored by John T. McLean).
    Note (1983),“A Cash-Out Breakthrough in Delaware Judical Merger Regulation: Weinberger v. UOP, Inc.”, Southwestern University Law Review 37: 823-839 (authored by Kevin W. Parke).
    Note (1984),“Approval of Take-out Mergers by Minority Shareholders: From Substantive to Procedural Fairness”, Yale Law Journal 93: 1113-1126 (authored by Kent T. van den Berg).
    Note (1984),“Corporation Law – Weinberger v. Uop, Inc.: Delaware Reevaluates State-Law Limitations on Take out Mergers”, North Carolina Law Review 62: 812-832 (authored by Glenn Carsten Campbell).
    Note (1984),“Delaware Improves its Treatment of Freezeout Mergers: Weinberger v. UOP. Inc.”, Boston College Law Review 25: 685-723 (authored by Geoffrey E. Hobart).
    Note (1990),“Balancing the Rights of Majority and Minority Shareholders in Take-out Mergers: Trends in Delaware Law”, New England Law Review 25: 699-731 (authored by Rand D. Richey).
    Note (1992),“Exclusivity of Appraisal—The Possibility of Extinguishing Shareholder Claims”, Case Western Reserve Law Review 42: 955-991 (authored by Michelle M. Pepin).
    Note & Comment (1994),“Director Conflicts of Interest under the Model Business Corporation Act: A Model for All States?”, Washington Law Review 69: 207-233 (authored by Peter E. Kay).
    Note (1994),“Interested Transactions by Corporate Directors: A Weakening of the Fiduciary Duty of Loyalty”, Suffolk University Law Review 28: 93-121 (authored by Richard W. Holtz).
    Note (1994),“Valuation Problems in the Appraisal Remedy”, Cardozo Law Review 16: 649-698 (authored by Michael R. Schwenk).
    Note (1995),“Appraisal Rights in Mergers of Publicly-Held Delaware Corporations: Something Old, Something New, Something Borrowed, and Something B.L.U.E”, Southern California Law Review 68: 719-743 (authored by Angie Woo).
    Note (1997),“Coming In from the Cold: Reforming Shareholders’ Appraisal Right in Freeze-out Transactions”, Columbia Business Law Review 1997: 133-163 (authored by Alexander Khutorsky).
    Note (2003),“Recent Delaware Decisions May Prove to be "Entirely Unfair" to Minority Shareholders in Parent Merger with Partially Owned Subsidiary”, Columbia Business Law Review 2003: 253-283 (authored by Brian M. Resnick).
    Orlinsky, Eric G. (1999),“Corporate Opportunity Doctrine and Interested Director Transactions: A Framework for Analysis in an Attempt to Restore Predictability”, Delaware Journal of Corporate Law 24: 451-525.
    Payson, Robert K. and Inskip, Gregory A. (1983),“Weinberger v. UOP, Inc.: Its Practical Significance in the Planning and Defense of Cash-out Mergers”, Delaware Journal of Corporate Law 8: 83-97.
    Pinto, Arthur R. (1998),“Section Ⅲ: Corporate Governance: Monitoring the Board of Directors in American Corporations”, American Journal of Comparative Law 46: 317-346.
    Prickett, William and Hanrahan, Michale (1983),“Weinberger v. UOP: Delaware’s Effort to Preserve a Level Playing Field for Cash-out Mergers”, Delaware Journal of Corporate Law 8: 59-82.
    Ramsay, Ian M. (1999), “Allocating Liability in Corporate Groups: An Australian Perspective”, 13 Connecticut Journal of International Law 13: 329-377.
    Ratway, David J. (1996),“Delaware`s Stock Market Exception to Appraisal Rights: Dissenting Minority Stockholders of Warner Communications, Inc. Are "Market-Out" of Luck”, Toledo Law Review 28: 179-217.
    Rock, Edward B. and Wachter, Michael L. (2001),“Symposium Norms & Corporate Law: Islands of Conscious Power: Law, Norms. and the Self-Governing Corporation”, University of Pennsylvania Law Review 149: 1619-1700.
    Roth, Bud (2000),“Entire Fairness for a Pure Breach of the Duty of Care: Sensible Approach or Technicolor Flop?”, Delaware Law Review 3: 145-177.
    Shaw, Bill (1990),“Resolving the Conflict of Interest in Management Buyout”, Hofstra Law Review 19: 143-170.
    Slovin, Myron B. and Sushka, Marie E. (1998), “The Economics of Parent-Subsidiary Mergers: An Empirical Analysis”, Journal of Financial Economics 49: 255-279.
    Silver, Carole B. (1984),“Fair Dealing Comes of Age in the Regulation of Going Private Transactions”, Journal of Corporation Law 9: 385-454.
    Seligman, Joel (1984),“American Law Institute’s Corporate Governance Project: Remedies: Reappraising the Appraisal Remedy”, George Washington Law Review 52: 829-871.
    Siegel, Mary (1995),“Back to the Future, Appraisal Rights in the Twenty-First Century”, Harvard Journal on Legislation 32:79-143.
    ____(1999),“The Erosion of the Law of Controlling Shareholders”, Delaware Journal of Corporate Law 24: 27-81.
    Silverstein, Bruce L. and McBride David C. (2002), “Norberg v. Security Storage Co.: Stretching the Limits of The Doctrine of Acquiescence in Freeze-out Mergers”, Delaware Journal of Corporate Law 27: 53-98.
    Smith, D. Gordon (1999),“A Proposal to Eliminate Director Standards from the Model Business Corporation Act”, University of Cincinnati Law Review 67: 1201-1228.
    Steinberg, Marc I. (2002),“Short-Form Mergers in Delaware”, Delaware Journal of Corporate Law 27: 489-498.
    Stern, Yedidia Z. (2001), “A General Model for Corporate Acquisition Law”, The Journal of Corporation Law 26: 675-716
    Strine, Leo E., Jr. (2002),“The Inescapably Empirical Foundation of the Common Law of Corporations”, Delaware Journal of Corporate Law 27:499-518.
    Taylor, Nelson Ferebee (1998),“Evolution of Corporate Combination Law: Policy Issues and Constitutional Questions”, North Carolina Law Review 76: 687-1014.
    Thomas, Randall S. (2000),“Revising the Delaware Appraisal Statute”, Delaware Journal of Corporate Law 3: 1-35.
    Thompson, Robert B. (1995),“Exit, Liquidity, and Majority Rule: Appraisals Role in Corporate Law”, Georgetown Law Journal 84: 1-60.
    Thompson, Samuel C., Jr. (1996), “The Merger and Acquisition Provisions of The ALI Corporate Governance Project as Applied to the Three Steps in the Time-Warner Acquisition”, Columbia Business Law Review 1996: 145-280.
    Ulen, Thomas S. (1997), “Symposium: Law and Society & Law and Economics: Common Ground, Irreconcilable Differences, New Directions: Firmly Grounded: Economics in the Future of the Law”, Wisconsin Law Review 1997: 433-463.
    Veasey, E. Norman (1998), An Economic Rationale For Judicial Decisionmaking In Corporate Law, Delaware Law Review 1: 169-192.
    Veasey, E. Norman (2003), “Musings on the Dynamics of Corporate Governance Issues, Director Liability Concerns, Corporate Control Transactions, Ethics, and Federalism”, University of Pennsylvania Law Review 152: 1007-1021.
    Vorenberg, James (1964),“Exclusivity of the Dissenting Stockholder’s Appraisal Right”, Harvard Law Review 77: 1189-1217.
    Weiss, Elliott J. (1981),“The Law of Take out Mergers: A Historical Perspective”, New York University Law Review 56: 624-692.
    ____(1983),“Balancing Interests in Cash-out Mergers: The Promises of Weinberger v. UOP, Inc.”, Delaware Journal of Corporate Law 8: 1-58.
    Wertheimer, Barry M. (1998),“The Purpose of the Shareholder’s Appraisal Remedy”, Tennessee Law Review 65: 661-690.
    ____(1998),“The Shareholders’ Appraisal Remedy and How Courts Determine Fair Value”, Duke Law Journal 47: 613-712.
    (三)其他
    Bebchuk, Lucian Arye and Kahan, Marcel (1999), “Adverse Selection and Gains to Controllers in Corporate Freezeouts”, in Randall K. Morck, ed, Concentrated Corporate Ownership 247-61 (Chicago 2000), available at < http://papers.ssrn.com/sol3/papers.cfm?abstract_id=147568#PaperDownload>. An earlier version of this paper was circulated as “The “Lemons Effect” in Corporate Freeze-outs”, Working Paper No. 6938. Cambridge, MA: National Bureau of Economic Research, available at <http://nber.org/papers/w6938> (last visited Aug. 2003).
    Finkelstein, Jesse A. (2001), “Recent Delaware Court Decisions Show Path to Avoid Entire Fairness Review in Subsidiary Buy-out Transactions”, 33 BNA`s Securities Regulation & Law Report Analysis & Perspective 1151.
    Foss, Nicolai J., Lando, Henrik and Thomosn, Steen,“The Theory of the Firm”, in Encyclopedia of Law and Economics §5610, 631-658, available at <http://encyclo.findlaw.com/5610book.pdf> (last visited Dec. 2002).
    Jacobs, Jack B. (1995),“Reappraising Appraisal: Some Judicial Reflections”, Speech at 15th Annual Ray Garrett, Jr. Corporate and Securities Law Institute, Northwestern University School of Law (Apr. 27, 1995) (on file with the author) (Jack B. Jacobs is now serving as Justice of Delaware Supreme Court.) < http://courts.state.de.us/supreme/feedback.htm>.
    Johnson, Simon, La Porta, Rafael, Lopez-de-Silanes, Florencio and Shleifer, Andrei (2000), “Tunnelling”, Working Paper No. 7523. Cambridge, MA: National Bureau of Economic Research, available at <http://nber.org/papers/w7523> (last visited Aug. 2003).
    La Porta, Rafael, Lopez-de-Silanes, Florencio, Shleifer, Andrei and Vishny (1998), Robert W., “Law and Finance”, Journal of Political Economy 106: 1113, available at < http://post.economics.harvard.edu/faculty/shleifer/papers/lawandfinance.pdf> (last visited July. 10, 2004).
    Description: 碩士
    國立政治大學
    法律學研究所
    87651045
    93
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0087651045
    Data Type: thesis
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