CAJ | 학술논문

随着社会经济的发展，隐名投资现象大量涌现。在隐名投资中，实际出资人履行出资义务，却藏身幕后代请他人为名义股东。最高人民法院通过的《关于适用<中华人民共和国公司法>若干问题的规定（三）》明确承认实际出资人具有股东资格。但是，实际出资人的存在是否具有正当性，有必要从法律价值角度加以分析。研究表明，实际出资人的行为通常不具有合法性，承认其股东资格有悖于公平原则、效率原则和秩序原则。
수착사회경제적발전，은명투자현상대량용현。재은명투자중，실제출자인리행출자의무，각장신막후대청타인위명의고동。최고인민법원통과적《관우괄용<중화인민공화국공사법>약간문제적규정（삼）》명학승인실제출자인구유고동자격。단시，실제출자인적존재시부구유정당성，유필요종법률개치각도가이분석。연구표명，실제출자인적행위통상불구유합법성，승인기고동자격유패우공평원칙、효솔원칙화질서원칙。
With the development of society and economy , dormant investment is becoming more and more popular , in which actual investors performs capital contribution obligation , but ask somebody else to serve as dummy shareholders .The judicial interpretation for corporate law promulgated by Supreme People's court actually has acknowledged that actual investors have qualification of becoming shareholders .However , is the existence of actual investors rational?It is necessary to research the problem mentioned above from the point of legal value .Re-search shows that activities taken by actual investors are always illegal , and acknowledging their qualification of shareholders violates the principals of justice , efficiency and order .