In this thesis the author analyzes the share repurchase system as well as some relate issue and expounds the improvement of legislation on share repurchase in depth in four parts.

• 对于这两个方面，本部分都是先从原因上着手，并剖析了实际的回购操作中存在的对这两个群体的侵害现象，在此基础上，提出了若千保护债权人和中小股东利益的措施。