【作者】 刘娟；

【导师】 肖伟志；

【作者基本信息】 湘潭大学 ， 国际法， 2009， 硕士

【摘要】 欧盟经济一体化的首要目标就是建立共同市场与内部统一大市场,实现货物、人员、服务以及资本的自由流动。在这个经济一体化的过程中,公司资本制度对规范公司这一主要经济主体的行为发挥了极其重要的作用。欧盟在1976年出台了“第2号公司法指令”,成为对法定资本制度最早最系统的概括,在保护债权人利益方面也产生了一定的效果。然而,随着全球经济一体化进程的加速,各国公司之间出现了“朝底竞争”,以降低公司运营的成本,提高公司的运作效率,从而达到增强竞争力的目的。在这一背景下,欧盟确立的严格法定资本制度逐渐不适应经济发展的要求,便使得欧盟开始了对于法定公司资本制度的反思,并进行了广泛的探讨,最终形成了欧盟“第2006/68号指令”,该指令不再采用严格的法定资本制度,大幅度降低了公司注册资本最低限额,在出资形式和验资评估、公司股份回购、公司减资等方面对法定资本制度进行了“松绑”,并逐渐向英美法系的授权资本制靠拢。我国2006年实施的新《公司法》解决了原有公司法中许多亟待解决的问题,对公司资本制度也作了较大改动,降低了最低注册资本,取消了公司对外投资的限制,放宽了出资形式。这些都是值得肯定的,都是许多法律人士多年研究的结晶。但是遗憾的是我们仍然没有改变资本信用的理念,仍然囿于公司资本制度的范围来寻求对债权人和股东利益的衡平。此外,我国资本制度还存在许多缺失,如严格限制公司持有自己的股份,对公司的非货币出资实行强制性的验资制度。这些都影响了我国公司资本的运转,影响了公司更好的发展。针对以上问题,我国从欧盟公司资本制度的发展趋势中可以得到一些启示。法律的、强制性的资本保护是必要的,但不能僵硬地设立法定最低注册资本,应该逐步建立与公司的业务能力相适应的资本制度。树立资产信用的理念,在公司经营过程中,以公司净资产这个变量来考察公司的偿付能力,对公司运营中的盈余公积金、未分配利润等进行动态的分析,以达到保护交易安全的目的。同时,应该完善相关的配套制度,如:商事登记制度、个人信用体系、公司法人人格制度等。更多还原

【Abstract】 The main object of EU economic integration is to build common market and internal large market and to achieve free movement of goods, people, service and capital. In the course of economic integration, corporate capital regime plays a very important role in regulating corporate behavior. The second corporate law directive, publicized by EU in 1976, is the earliest and the most systematic generalization of legal capital system and has some effect on protecting creditor. However, with the speeding of global economic integration, corporate of different countries compete to bottom in order to cut down operation cost, improve efficiency and in the end enhance competiveness. In this context, rigid legal capital regime fails to keep up with economic development. So, EU starts to reflect and broadly discuss and eventually produce directive of 2006/68. Directive of 2006/68 abandoned legal capital regime, reduce baseline of registered capital by a large margin, weaken legal capital regime in the aspect of contribution manner, evaluation, redemption, reduction of capital and so on, and becoming closer to authorized capital regime.The latest Company Law settles down many problems and revises corporate capital regime a lot, such as reducing baseline of registered capital, abrogating limitation of investment and broadening contribution manner. These affirmative changes are the fruit of long-time research of legal workers. However, these are not enough, because we did not change the idea of capital credit and are still confined to corporate capital regime to quest for the balance of interests of creditor and shareholders. What is more, there are many deficiencies in capital regime, such as corporate being permitted to hold its share in limited circumstances, compulsive evaluation of non-monetary contribution, which adversely affect functioning of corporate capital and better development of corporate.From development of legal capital regime in EU, I learn lessons on how to resolve above problems. Legal compulsive capital protection is necessary, and capital regime shall adapt to operation capacity rather than rigidly formulate baseline of registered capital. With the idea of asset credit, corporate law shall examine the reimbursement ability of corporate with the index of net asset and dynamically analyze surplus accumulation fund and undistributed profit and other data in order to achieve the object of business security. Meanwhile, supporting system shall be consummated, such as registration system, personnel credit system and legal entity system.更多还原