Research on the Reform of Corporate Capital System

Author: Zhao Xudong et al.
Publisher:
Publish Date: 2004-12-01
Features: This book is a specialized study in the fields of Company Law and Securities Law. Capital is one of the basic concepts in Company Law, and the capital system plays a dominant role in it. Many other systems and rules in Company Law are closely linked to the capital system intrinsically, and some legal rules are essentially specific manifestations and requirements of the capital system. Chinese Company Law has constructed its own system based on capital credit. The reform of the capital system has become one of the most concentrated topics in the research of Company Law and Securities Law in China in recent years. The book summarizes that the legislation of capital systems in countries around the world shows a distinct pursuit of efficiency and responsiveness to practice, with a philosophy of deregulation and trust in the market, and a typical empowering capital system model, which is adopted or absorbed by most countries as the mainstream regulatory rule, thus providing the maximum flexibility for the efficiency formation and operation of capital. The book argues that the Chinese Company Law based on capital credit has objectively created and formed a myth of capital credit, and capital credit has intentionally or unintentionally diluted and misled people's risk awareness. The book is divided into two parts: General Theory and Specific Analysis. The General Theory part is mainly based on research reports and provides theoretical interpretations on macro issues such as the international background and trends of the reform of the company capital system, the concept of capital credit, the basic ideas and directions of the reform of the capital system in China, and the fundamental proposals for the reform of the capital system and related systems. The Specific Analysis part is divided into twelve topics, which respectively analyze and discuss the core systems of capital and the related and supporting systems and rules from both theoretical and practical perspectives, and on this basis, propose reform suggestions and corresponding amendments to the Company Law.