【作者】 简振环；

【导师】 张璎；

【作者基本信息】 华东政法大学 ， 法律， 2008， 硕士

【摘要】 现代商业界风云变幻，市场机会稍纵即逝。公司只有高效运作，才能在竞争中立于不败之地。要维护公司的高效运转并保持其活力,法律应该为公司董事的善意合理的商业决断提供强有力的保障。基于此，在美国司法实践过程中形成了一项判断董事是否善尽义务的判例法规则——商业判断原则（Business judgeme ntrule）。据此规则，如果董事被认为是合理而勤勉的，即使其行为使公司利益受损，亦不得追究其责任。在我国新公司法不断加强对股东权益保护的背景下，该规则对于董事权益保护机制的完善有着积极的借鉴意义。本文正是以此作为着眼点，简要地介绍了商业判断原则的相关理论，并谈谈该原则对我国公司法发展的借鉴作用。引言部分，笔者从海淀区首例董事不当履行职责案谈起，并结合新《公司法》中有关派生诉讼和董事义务的规定，说明对拥有公司实际权力的董事既要规制其权利运用，也要对其合法权益进行保护，不能把不确定性的风险归责于勤勉尽职的董事。为了解决如何判断合理履行注意义务的董事是否该为决策风险负责的问题，引出对美国公司法中的商业判断原则理论的探讨。第一章是以美国公司法为背景，介绍商业判断原则的基本理论，其中第一节主要是从司法实践，美国公司法的学术界以及成文法趋势三个角度来阐述商业判断原则的定义；第二节主要是从法学相关理论，经济学理论，董事经营权，市场与司法的关系以及等多个角度来分析商业判断原则的理论基础和现实基础；接下来的第三节主要是分析了商业判断原则的适用条件，最后一节则是重点阐述了商业判断原则和董事义务的关系。第二章主要是阐述商业判断原则的在公司法实务中的功能，重点介绍了在股东提起派生诉讼和公司并购的场合里如何发挥作用的。第三章是通过前两章的介绍后，探讨对我国公司法的借鉴。第一节从公司治理结构，股东派生诉讼制度，董事经营以及公平和效率关系等角度来说明我国引入商业判断原则的意义或者必要性，第二节是从理论支持，前提条件以及国外经验等来证明引入该原则的可行性，第三节则是结合我国公司治理实践说明现存的对引入该原则的各方面的障碍；最后就笔者的个人观点谈谈我国在引入该原则时应该注意的地方。更多还原

【Abstract】 The modern business world is capricious and the market chance goes by in theblink of an eye, so only with highly efficient operation, the company can rema ininvincible in this competitive society. For that purpose, the law must support powerfulguara ntee the directors who have perform their duties in good faith. Therefore, aprinciple of case law (Business Judgement Rule) has been produced in the Americajudicia l practice whose purpose is to judge whether the directors have perform theirduties or not. According to this rule, we can’t pursue their duties if the directors’behavior is considered to be reasonable and diligent, even though harms thecompany’s interest. This rule can use for reference to the protection of director’s rightson the background that new Company Law gradua lly enhance the protection ofshareholder’s interest. Basis to this respect, this paper briefly introduces some releva nttheories and brings forward some reference to our Company Law.As for this paper’s foreword, the author expla ins that we need to protect thedirectors’lega l rights as well as prevent their power-abusing, so we can’t attributesome uncertain risks to them through the first case of improper performing duty inHaidia n section. Though, the Business Judgment Rule of America’s Company Law hasbeen further explored in order to solve this problem.The first chapter is to introduce the basic theory of the Business Judgment Ruleon the ground of America’s Company Law. The first section expla ins the definition of the Business Judgment Rule from the angle of America’s Company Laws’scholarship,judicia l practice and the statute’s trend; The second section analyzes the academicfoundation and realistic foundation from the angle of releva nt Civil Law’s theory,economics theory, director’s operating rights and the relationship between the marketand the justice; The third section introduces the appropriate condition of the BusinessJudgment Rule; and the last section discusses the relationship between the BusinessJudgment Rule and directors’duties.The second chapter ma inly introduces the function of the Business JudgmentRule in the Company Law’s practice and how does it work in derivative action broughtby shareholders and in company’s merger.The third chapter is the reference to our country’s Company Law. The firstsection shows the necessity that our country imports the Business Judgment Rule fromthe angle of company’s ma nagement structure, the system of shareholder’s derivativeaction, directors’operating rights and the relationship between the fairness andefficiency; the second section proves this rule’s feasibility by the academic support、the precond itions and foreign countries experiences; Considering company’sma nagement practice in our country, the third section makes out the obstacles that ourcountry carries out this rule now. In the end, the author brings forward somesuggestion on our country’s importing the Business Judgment Rule.更多还原