Effectiveness of clauses restricting equity transfer in articles of association of limited liability companies using fuzzy AHP: A data analysis of related cases in China from 2010 to 20191
Issue title: Ethical Computational Intelligence for Cyber Market
Guest editors: Oscar Sanjuán Martínez, Giuseppe Fenza and Ruben Gonzalez Crespo
Affiliations: School of Public Administration and Law, Northeast Agricultural University, Xiangfang Qu, Haerbin Shi, Heilongjiang Sheng, China
Correspondence:
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Corresponding author. Yingzhi Nie, School of Public Administration and Law, Northeast Agricultural University, 59 Mucai St, Xiangfang Qu, Haerbin Shi, Heilongjiang Sheng, China. E-mail: nie_yingzhi@126.com.
Note: [1] The authors would like to express their gratitude to their assistant, Graduate candidate Ze Chen, in School of Public Administration and Law, Northeast Agricultural University, for careful searching and technical support regarding the related cases of the article. This research was funded by Humanities and social sciences Project of Education department of Heilongjiang Province (18FXB011).
Abstract: Based on the company cases published in China over the past ten years, both theoretical methods and Artificial intelligence technologies were applied to analysis cases data on the effectiveness of clauses restricting equity transfer in articles of association of limited liability companies (LLCs). With its unique characters based on shareholders and strong vitality, limited liability company (LLC), as the “evergreen tree” among the market players, is a company form adopted by many investors. Nevertheless, due to its prominent closed characteristics, equity transfer has become a bottleneck for the development of LLCs. According to this paper, it is necessary to distinguish between the effectiveness of clauses restricting internal and external equity transfer in articles of association of LLCs. Fuzzy Analytic Hierarchical Process (AHP) is utilized for which involves process of analytic hierarchy modelled with utilizing theory of fuzzy logic. Moreover, instead of being confined to the existing legal norms, the judgment standard of clauses restricting equity transfer in articles of association of LLCs should be comprehensively measured by the golden rules, i.e. “fairness”, “autonomy” and “operability”.
Keywords: Characters based on shareholders, nature of articles of association, effectiveness of clauses, judgment standard, fuzzy logic, fuzzy Analytic Hierarchical Process (AHP)
