现代法学
現代法學
현대법학
Modern Law Science
2011年
3期
32~42
,共null页
公司治理 股东同质化与异质化 公司内部权力配置 逻辑基础
公司治理 股東同質化與異質化 公司內部權力配置 邏輯基礎
공사치리 고동동질화여이질화 공사내부권력배치 라집기출
corporate governance; stockholders＇ homogeneity or heterogeneity ; power division withinthe corporation; logical basis
传统公司代理理论与制度基于股东＂同质化＂假定的逻辑基础而展开,＂资合性＂正是对这一基础的法理化表达。股东＂同质化＂假定具有人性同质与利益同质之内涵,建构其上的股份公司内部权力配置以资本作为唯一标准,形成了权力定位中的股东会中心主义、权力分配中的股份平等原则和权力运行中的资本多数决原则。但这些权力配置原则所产生的诸多流弊已然昭示出其逻辑基础存在先天缺陷。股份公司股东＂异质化＂现实已经得到公司理论和实践的有力佐证,并不断催生出股份公司内部权力配置的结构性变革。
傳統公司代理理論與製度基于股東＂同質化＂假定的邏輯基礎而展開,＂資閤性＂正是對這一基礎的法理化錶達。股東＂同質化＂假定具有人性同質與利益同質之內涵,建構其上的股份公司內部權力配置以資本作為唯一標準,形成瞭權力定位中的股東會中心主義、權力分配中的股份平等原則和權力運行中的資本多數決原則。但這些權力配置原則所產生的諸多流弊已然昭示齣其邏輯基礎存在先天缺陷。股份公司股東＂異質化＂現實已經得到公司理論和實踐的有力佐證,併不斷催生齣股份公司內部權力配置的結構性變革。
전통공사대리이론여제도기우고동＂동질화＂가정적라집기출이전개,＂자합성＂정시대저일기출적법이화표체。고동＂동질화＂가정구유인성동질여이익동질지내함,건구기상적고빈공사내부권력배치이자본작위유일표준,형성료권력정위중적고동회중심주의、권력분배중적고빈평등원칙화권력운행중적자본다수결원칙。단저사권력배치원칙소산생적제다류폐이연소시출기라집기출존재선천결함。고빈공사고동＂이질화＂현실이경득도공사이론화실천적유력좌증,병불단최생출고빈공사내부권력배치적결구성변혁。
The traditional agency theory and institutional pattern of the corporation are rooted on stockholders,＂homogeneity＂ hypothesis,which is,jurisprudentially,represented in the form of ＂capital pooling＂.The shareholders,＂homogeneity＂ hypothesis has acquired the connotation of personality as well as interest homogeneity,power distribution based on which assumes capital as its sole test,and thus principles such as shareholder primacy,stock equality and majority rule are established.As time goes by,however,lots of inherent defects of the principles have been pointed out and shareholders,heterogeneity has been testified in corporate theory and practice,which keeps encouraging structural transformation of division of power within the company.
