CAJ | 학술논문

种类股的实质是股权的类别化，即股权内容的自治性配置。我国公司能否设置种类股，公司法并无明确规定。作为国际通行的公司股份类别，种类股立法在发达国家已经非常完备，种类股股权设计也灵活多样。我国的公司法面对多变的国内市场和激烈的国际竞争，已经表现出公司股份制度供给不足，而种类股的设置正是提升我国公司法竞争力的一项制度创新，是我国公司法制现代化的必然选择。设置种类股能充分发挥公司的融资价值，科学理解并深化股权平等原则，促进私法自治理念在公司法领域更好贯彻。我国在种类股的具体设置时，应当考虑公司自由配置的公司利润分配事项、剩余财产分配事项、表决权事项、转换权事项、偿还权事项等因素。同时，对种类股股权的保护，是种类股制度得以顺利实施的关键。
충류고적실질시고권적유별화，즉고권내용적자치성배치。아국공사능부설치충류고，공사법병무명학규정。작위국제통행적공사고빈유별，충류고입법재발체국가이경비상완비，충류고고권설계야령활다양。아국적공사법면대다변적국내시장화격렬적국제경쟁，이경표현출공사고빈제도공급불족，이충류고적설치정시제승아국공사법경쟁력적일항제도창신，시아국공사법제현대화적필연선택。설치충류고능충분발휘공사적융자개치，과학리해병심화고권평등원칙，촉진사법자치이념재공사법영역경호관철。아국재충류고적구체설치시，응당고필공사자유배치적공사리윤분배사항、잉여재산분배사항、표결권사항、전환권사항、상환권사항등인소。동시，대충류고고권적보호，시충류고제도득이순리실시적관건。
The essence of classes shares is the categorization of shares right, namely the autonomous allocation of shares right. There is no clear stipulation in the Chinese company law on whether companies can establish classes shares. As a popular type of corporate shares, classes shares legislation is quite complete and its shares right has various flexible designs in developed countries. Nowadays Chinese company law faces fluctuating domestic market and fierce international competition, and is short of applicable systems for corporate shares. Therefore, the establishment of classes shares is exactly an innovation to improve the competitiveness of our company law. It is undoubtedly the choice of modernizing China＇s company law. Establishing classes shares can fully unearth a company＇s financing value, help improve scientific understanding of and deepen the equal principle of shares right, and promote exercising private law autonomy in company law . When establishing classes shares in China, we should take these issues into account such as company profit distribution as freely allocated by the company, distribution of company remainder property, voting right, transfer right, pay back right, etc. At the same time, protecting the stock right of classes shares is the key to ensure successful implementation of the classes shares system.