论控制股东对中小股东的诚信义务

【作者】 杨长松；

【导师】 徐新林；

【作者基本信息】 复旦大学 ， 法律， 2008， 硕士

【摘要】 为防止控制股东的滥权行为,切实保护中小股东的利益,各主要市场经济国家已通过判例或立法在不同程度上确立了控制股东对中小股东的诚信义务制度。我国于2005年修订《公司法》时,在加强保护中小股东权益方面迈出了重要一步,但仍未明确确立控制股东对中小股东的诚信义务。本文从诚信义务制度在公司法领域的发展历程出发,探讨了控制股东对中小股东承担诚信义务的理论基础。在对控制股东的概念进行界定的基础上,分析研究了控制股东诚信义务的基本内容:注意义务和忠实义务。之后,本文重点讨论了控制股东诚信义务中与中小股东利益密切相关的三种具体应用形态:一是公平关联交易的义务。由于关联交易已成为控制股东侵害中小股东利益的主要途径,各主要市场经济国家无不将之作为首要的规制对象。该部分重点讨论了对控制股东关联交易进行公平性判断的基本规则以及司法审查过程中的举证责任配置和转移问题,以期为规制控制股东的非公允关联交易行为提供一套具备可操作性的规则。二是竞业禁止义务。本部分考察了竞业禁止义务主体从公司管理者向控制股东扩展的过程并对控制股东竞业行为的构成要件作了初步的探讨。三是不得篡夺公司机会的义务。通过辨析公司机会规则和竞业禁止制度之间的关系,着重讨论了英美法系中的公司机会规则以及大陆法系国家对这一规则的借鉴和引进。最后,本文就我国关于控制股东诚信义务制度的立法现状作了简要的评述,探讨了在我国公司法层面确立这一制度的必要性和可行性,并在借鉴国外成熟理论和立法经验的基础上,就在我国确立和完善控制股东对中小股东的诚信义务制度提出了一些建议。本文认为,鉴于我国的股权结构形态以及控制股东诚信度尚处于培育阶段的现状,对控制股东予以规制的必要性和紧迫性远远强于许多国家和地区。要切实保障中小股东的利益,赋予中小股东各种权利当然重要,但更需要对控制股东的行为进行正面引导和直接规制。在《公司法》中确立控制股东对中小股东的诚信义务不失为一种合适的考虑。更多还原

【Abstract】 For the purpose of safeguarding interests of the minority shareholders and preventing the abuse of voting power of the controlling shareholder, a mechanism as corporate fiduciary duty imposed on the controlling shareholder has been established to some extent by main market economy country either through case law or legislation. The Chinese Company Law as amended in 2005 has made some breakthrough with respect of strengthening the interests of the minority shareholders, nevertheless, it does not shed lights on fiduciary duty imposed on the controlling shareholder of the company.Firstly, this thesis intends to explore the theoretical basis of corporate fiduciary duty of the controlling shareholder by studying the development of such principle in the corporation domain. After studying the definition and scope of the controlling shareholder, this article sets forth two basic contents of fiduciary duty imposed on the controlling shareholder: duty of care and loyalty.Secondly, this article emphasizes on three applications with regard the fiduciary duty of the controlling shareholder and interests of the minority shareholders. A: the duty of self-dealing on fair terms. Most market economy company law have regulation pertain to the self-dealing issues, since self-dealing has become the prominent methods of infringing the interests of the minority shareholders by the controlling shareholder. This part of the thesis intends to create an exercisable criterion to regulate the self-dealing between the controlling shareholder and the company, through discussing the basic rules with regard the judgment of fairness and rules of burden of proof during the judicial review. B: duty of non-competition. This part of article reviews the tendency of shifting the duty from the managers to the controlling shareholder, and puts forward the basic structure of the self-dealing transaction of the controlling shareholder. C: duty of non-usurpation of corporate opportunity. This part of the article discusses the mechanism of corporate opportunity and introduction of such mechanism into the civil law system by differentiating the rules concerning the corporate opportunity and non-competition.Thirdly, the thesis makes comments on this country’s current company legislation with regard the duty of the controlling shareholder. In this part of the article, the thesis also discusses the necessity and feasibility for such mechanism to be introduced into the company legislation and puts forward some suggestions and advices in this respect.Since the conformation of the share structure and mechanism of fiduciary duty imposed on the controlling shareholder are still premature in this country’s company legislation, the importance to regulate the controlling shareholder is far more pressing than any other country or region. It is important to endue more power into the minority shareholders in order to secure their interests in the company, but it will be much more effective to channel off and regulate corporate conducts of the controlling shareholder. Therefore, it will be an appropriate consideration to introduce such mechanism as fiduciary duty for the controlling shareholder into the current company legislation.更多还原