Abstract:
The requirements of large stock exchanges regarding transparency have a significant impact on regulating the type of relationship between parent and subsidiary companies. However, in the current legal system of Iran, there are no special provisions for the entry of a subsidiary company in the stock market between two companies, and the effectiveness of the stock market rules to create transparency in the operation of the subsidiary company is not clear. However, the application of the principle of transparency in large international stock exchanges has caused that, despite the subsidiary's compliance with the parent company, this unequal situation of the interests of the subsidiary does not accrue to the parent company. As a result, the principle of transparency will cause neutrality in interests and share ownership under the assumption of conflicts of interest with other shareholders, especially minority shareholders, and from this point of view, the parent company is only a shareholder of the listed company. Therefore, the parent company's control over the subsidiary company, which has both increased profitability and risk reduction, and in case of non-acceptance, the full responsibility of the parent company's control in the stock market is equal to the requirements of the stock exchange. First of all, the subsidiary company is accepted. It is subject to the rules approved by the stock exchange. Secondly, the parent company can't exert practical influence on the subsidiary company admitted to the stock exchange.