Study on the Relationship between Supervisors' Remuneration in Listed Companies and Tobacco Control Measures

Objectives: At present, the theoretical study on supervisors' remuneration under the Company Law is still too principled, and many "chaos" occur in the remuneration practices for supervisors. First, the lack of clear understanding of the incentive function and institutional specificities of supervisors' remuneration results in many problems in the application of supervisors' remuneration in practice, as well as the ignoration of the Board of Supervisors in corporation governance. Second, rather than reaching the intended effect, the legislative approach of authorized "blank" intentionally adopted under the Company Law leaves an inducement for the ineffective supervision of supervisors in practice. Third, there is not only a lack of theoretically self-consistent discussion on the special problems of concurrent supervisors and employee supervisors' remuneration, but also a divorce of the institutional structure and application from good expectations. If the research background of the problem is placed in "tobacco regulatory science", it will be found that there is no inevitable connection between supervisors' compliance expectations and remuneration, but mainly depends on the provisions of legislation. Going back and forth between theory and practice of supervisors' remuneration, this paper combs and interprets the issue of supervisors' remuneration from the perspective of the legislative provisions and theoretical study under the Company Law, and analyzes the difference between the reality and the necessity of the Company Law with respect to the issue of supervisors' remuneration in the light of the legal principle of the Company Law, with the view to improvement of the rules of the Company Law.