【作者】 佐藤孝弘；

【导师】 顾功耘；

【作者基本信息】 华东政法大学 ， 经济法学， 2007， 博士

【摘要】 世界上存在许多的公司治理模式,其中比较有代表性的是盎格鲁萨克逊模式、莱茵模式以及日本模式,那么为什么存在这些不同的公司治理模式呢?对此以前认为是由于交易成本的不同引起的:低的交易成本更易形成市场取向型公司治理模式,高的交易成本更易形成机构取向型公司治理模式。持有该观点的人认为公司本身的存在是为了减少交易成本,公司本质是利益关系人之间的“合同之束”,股东因拥有绝对所有权而拥有公司。按照该理论,公司的存在目的是为了减少交易成本,那么交易成本越低,所需的公司规模越小。但现实中市场交易成本越低,公司规模越大。可见成本大小与公司治理模式之间的关系与交易成本理论存在着矛盾。此外该理论无法解释为什么美国银行等金融机构对公司治理的参与性不高,而在日本和德国却恰好相反。另外,美国的股份结构较分散,日本公司间互相持股的现象比较普遍,德国家族支配或银行支配模式较突出,该理论无法解释产生这种现象的原因。因此我们需要从文化和社会动态等方面考虑存在不同公司治理模式的问题,虽然对此早就存在这样的观点。那么文化和社会动态是以何种方式影响公司治理模式的呢?笔者认为文化和社会动态并不直接影响公司治理模式,而是不同的文化和社会动态首先影响当地公众对公司的期待,如在存在激烈公害问题的社会中,社会公众往往要求公司重视环境污染问题,而其他社会中,公众可能更重视社会公正问题,对公司的要求更倾向于对社会平等的贡献。因此一定社会中存在的文化和社会动态很大程度上影响公众对公司的期待。那么公司对社会期待如何做出回应呢?米尔顿·弗里德曼认为公司除对利益的追求之外不存在其他的社会责任,该看法之下公司以追求自身利益为最大目标,但现实中完全赞同该观点并据此行为的人很少,而作为社会一份子的企业家具有社会性,他们需要从道德角度考虑社会需求。此外公司只考虑自身利益而采取行为容易产生问题,这种企业无法得到好的社会评价。因此公司要达到长期发展、提高利润,必须以一定的形式对社会做出贡献,而这种贡献必须根据社会的期待而定且在一定程度上得到社会公众的认可。如果社会注重环境问题,而公司认为社会责任的承担是经营效率的提高,社会对该公司的评价不可能很高。因此公司的长期发展需要承担与社会期待相应的公司社会责任。而社会期待是受到社会文化和社会动态影响的,因此公司社会责任也是在社会文化和社会动态的影响下产生的,这就是各国公司社会责任不同的根本原因。公司社会责任中最基本的是经济责任,即提高利润和社会财富,且公司实体的存在具有永久性的特点,该特点要求公司追求利润并追求长期发展。为了达到目标,公司应当承担与社会期待相应的公司社会责任,为此公司内外部也需要作相应的调整,这就是公司治理。因此公司治理是公司为了更好的存在于社会中并取得长期发展的目的而形成的公司内外部机制。社会文化和社会动态形成了公众对公司的期待,这种期待影响了公司社会责任,从而影响了公司治理模式。该过程可以解释不同地区存在不同的公司治理模式的原因。这就是本文第一章的主要内容。根据上述观点,本文第二章、第三章以及第四章对美国、德国和日本的公司治理模式进行了比较研究。而上述的社会文化和社会动态对社会期待的影响,由此影响了公司社会责任,进而影响了公司治理模式的影响过程的假设是否准确,本文首先通过对各国不同公司治理模式特点的探讨,然后探讨了不同社会责任和社会期待的特征,最后是社会文化和社会动态的特征,通过分析,发现它们之间确实存在某些共同点,由此可以认为公司治理受到社会责任和社会期待的影响,不同公司治理模式的产生是受不同的社会文化和社会动态影响产生的。也可以认为根据社会责任的形态考虑公司治理模式的方法对根据国情考虑公司治理的法律设计来讲非常重要。以上述比较分析为基础,如何设置中国的公司治理,这是是本文的目标。该部分从社会责任对公司治理模式影响的角度出发探讨了中国公司治理的法律设计,但中国现实的情况是市场经济发展还不成熟,市场改革中涌现出很多问题,可以预测公司行为或公司社会责任的承担与公众对公司的期待存在很大的差别,因此从社会期待尤其是宏观上的社会期待即所谓的社会总体利益提高的角度出发,考虑相应的公司社会责任,进而考虑公司治理问题。现在中国的总目标是和谐社会的建设问题,我们把该目标看作中国宏观的社会期待,从该目标和公司社会责任关系的角度来探讨中国公司治理设计问题。下文中公司治理模式设计中考虑了(1)为了和谐社会的建设,公司可以有哪些方面的贡献;(2)通过中国与其他国家文化的比较,探讨哪种公司治理模式与中国社会更有社会亲和性;(3)什么样的公司治理模式对中国目前面临的社会问题的解决更有帮助。根据这种分析,现在公司法规定的公司治理应当进一步完善。笔者认为新的公司法规定的中国公司治理从如何增加投资的角度设计,这一点是很重要的。承担社会责任意味着公司长期发展和社会整体利益的增加,从这一角度来看应当注重投资者之外的其他利益相关者。笔者认为在中国应当更注重职工利益的保护。现在的公司法也认可职工对监事会和董事会的参与,但这种规定与从前公司法的规定实质上是一样的,不能认为它对职工利益的保护有所加强。根据国情,公司治理的设计中应当更加强化职工对公司经营和监督的参与。因此本文中以职工参与的治理模式为大的框架,同时考虑了中国的国情和国际上公司治理方面存在的共同问题,最后设计了法律上的公司治理模式。本文第一章介绍不同公司治理模式产生的原因,从公司概念的角度进行了分析,之后社会期待分为微观社会期待和宏观社会期待,与之对应的公司社会责任也有微观和宏观之分,通过对此的分析探讨了社会责任和公司治理的关系。第二章、第三章以及第四章以第一章的理论研究为基础,比较了美国、德国和日本公司治理模式。其中分别从第二章、第三章和第四章对美国、德国和日本公司治理模式进行了分析。通过对美国的分析,可以看出美国文化、社会动态、社会期待、社会责任和公司治理上都存在个人主义在的特点。在德国部分的探讨中,通过分析可以看出,与美国不同,德国文化、社会动态、社会期待、社会责任和公司治理上都存在集体主义或共同体的色彩。在日本部分中我们知道与德国相类似,日本在文化、社会动态、社会期待、社会责任和公司治理方面也都存在集体主义或共同体的色彩。与德国不同的是日本的经营者和职工关系以及法律规定的公司治理模式与现实情况的不符,这也是日本公司治理模式中的一大特点。这与德国属于基督教文化,而日本属于儒家文化有很大的关系。该部分通过对各国的比较分析,提出公司治理法律设计时需要考虑的方面。本文最后部分从社会责任的角度出发,以提出中国公司治理的修改方案为目标进行分析。其中第五章首先分析了中国和谐社会建设中的一些列障碍等问题,以及为了解决这些问题,公司应当做出何种行为。第六章探讨了中国文化究竟更倾向于集体主义还是个人主义的问题,分析了各种公司治理模式对中国社会亲和性的问题。第七章讨论了中国目前较大的社会问题中,公司应当在如何做出贡献的问题。第八章分析了中国目前的经营者意识和社会期待,从文化和社会动态的角度考虑社会期待公司承担何种社会责任的问题。最后,第九章以中国公司治理的具体问题和上文的分析结果为基础,提出了公司治理的法律设计。本文从一个新的角度即社会责任的角度考虑了公司治理问题,但本文只是初步探讨了公司治理模式问题,笔者希望更多的人可以参与此方面的研究,同时希望该研究对中国的经济和社会的发展有所帮助。更多还原

【Abstract】 There are many kinds of corporate governances in the world. For example Anglo-Saxon model, Rhine model and Japanese model. Then what made each district develop such a different system? Generally speaking, it is thought that this situation came about because of business expenses or marketing costs. According to this theory, if the cost is low, corporate governances became outsider models, and reversely, if the cost is high, corporate governances became insider models .Some people believe a company is a bunch of contracts between individual parties, because each party wants to reduce business cost, and they often believe stockholders have absolute property rights, so stockholders own companies. But in fact, although marketing cost is reduced, companies became bigger and bigger. Furthermore, this theory can not explain why financial institutions such as banks are not so active in U.S.A, and reversely, why Japanese and German banks are themselves, so active. In addition, it cannot explain either why Japanese companies own each other’s stocks, why in Germany, main stockholders are families, and big banks have strong power and can control big companies, and again why in U.S.A, most stockholders are individuals. This theory can not answer these questions. I therefore think that the cause behind the difference between various corporate governance models stems from culture and social situations. Then how can culture and social situations affect corporate governances create differences? I personally do not think that culture and social situations affect corporate governances directly, but rather that at first, such cultural elements and social situations affect the formation of social expectations to companies. For example, the public requires companies to be careful with environmental pollution in society which have big pollution issues. In societies which strongly pursue democratic values rather than profit, the public demand towards companies may be their contributing to the realization of democracy. Then how will companies react to such social expectations? As Milton Friedman says, the only corporate social responsibility is the pursuit of profit. According to this thought, if companies‘only aim is to increase profit, they will behave more selfishly. However, in reality, businessmen, as members of society, cannot help thinking about social profit according to their conscience. In addition, companies which only think about profit , easily get into problems and in so doing ,loose the esteem of the public. So companies must contribute to society according to social expectations, if they want to develop in the long term. Corporate social responsibility is indirectly affected by the fact that social expectations are influenced by culture and social situations .Therefore; each company must develop its own system according to its C.S.R. This is the cause behind the difference between various corporate social responsibilities in each country.The most fundamental corporate social responsibility is economic one , which means profit and social property ,and the existence of corporation is eternal , these character force corporation to focus on profits as well as long-term development . In order to reach this target ,both inside and outside of the corporation need an adjustment for corresponding social responsibilities according to social expectation should be taken ,this is the corporate governance . Therefore ,better existence in society and long-term development lead to corporate governance . Social expectation stems from social culture and situations which influents corporate social responsibility , furthermore , the style of corporate governance . This process can explain why corporate governance are various in different areas .This is the main context in chapter one .According to the idea above , American , German and Japanese corporate governances are compared in chapter two , three and four . In order to test the hypothesis–social culture and situations can influence social expectation , corporate social responsibility , corporate governance . We talk about , initially , some different countries , corporate governances, then , various characters of social responsibilities and expectations , at last , social culture and situation . By analysis , finally , we find they really have something in common . So we can believe that every corporate governance is affected by social responsibility and expectation . They come up under their own social culture and situation . We can also believe that corporate governance according to social responsibility is vital to the law that corporate governance is based on national condition. Base on the analysis above , the purpose of the article is to deal with the question“how to set up Chinese corporate governance .”In this part , we talk about the law draft of Chinese corporate governance from the aspect of that social responsibility can affect corporate governance . But the truth is that china’s market-oriental economy is still at elementary stage , many problems spring up in market reformation . It can predict that there exists a big discrepancy between corporate behaviors or social responsibilities and public expectation . That’s why we must consider corresponding corporate social responsibility , furthermore corporate governance base on social expectation , especially , the macroscopic social expectation , which means the increase of the whole social profits . Nowadays , China’s total purpose is to build an harmonious society ,we should see it as China’s macroscopic social expectation , base on the purpose and the relationship of social responsibilities , we can talk about the Chinese corporate governance :⑴What contributions can be made by corporation so as to build an harmonious society .⑵Which corporate governance model is close to our society most by comparison between China and other countries .⑶What kind of corporate governance is more helpful to handle China’s social issues now. According to the analysis corporate governance under current corporate law should be further improved . The writer thinks it is important that Chinese corporate governance designs to tackle how to increase investment under the new law . Taking social responsibilities means the corporation’s long-term development and the increase of the whole social profits ,from this point , importance should be attached to other stakeholders beside investors .The writer also thinks we should focus more on employee’s benefits protection in china . The current corporate law allows employee to take part in board of supervisors and board of directors . However , in reality, it makes no difference to the old one , it doesn’t improve employee’s benefit protection .According to the national condition , the design of the corporate governance should puts more emphasis on employee’s participation on management and supervision . Generally speaking , employee’s participation governance model is the outline of the article , meanwhile , China’s national condition and common problems in international corporate governances also be discussed , in the end , we carry out the corporate governance in law .In chapter one , the causes of different corporate governances are introduced . The social expectations are divided into microcosmic one and macroscopic one , so as to their corresponding corporate social responsibilities , then , we talk about the relationship between social responsibility and corporate governance .Chapter two , three and four base on chapter one , then , American ,German Japanese corporate governance models are compared . By American one , we can easily see individualism in American culture , social situation , social expectation , social responsibility and corporate governance .In the part of German one , we can smell collectivism and sense of community . As to Japanese , we can tell something in common with German one , however . there are two things different to the Germany model , one is the relationship between employers and employees , another is it’s corporate governance in law disagree with reality , this is Japanese own style . The mentioned discrepancy is related to that , Germany believe in Christian , while Confucianism is Japanese faith .At this part , factors which need to be considered in corporate governance law draft are presented by comparison .In the last part of the article , we begin with social responsibility , present the analysis with the purpose of laying down the Chinese corporate governance modification scheme . In chapter five , we talk about a series obstacles existing on the way of building the harmonious society . In chapter six , we search for the answer to the question that is Chinese culture inclined to collectivism or individualism. In chapter seven , we discuss how corporations make their contributions to society . In chapter eight ,China’s current business consciousness and social expectation are mentioned then ,we defined what social responsibilities should corporation shoulder according to social culture and situations .At last , in chapter nine , base on the achievements above , we present design of the corporate governance law.In this article , we consider the corporate governance from an unprecedented aspect-social responsibility . However we just discuss it preliminarily , the writer hopes that more and more researchers can take part in this job ,in the meantime , the research can benefit China’s economy and social development .更多还原