资本维持原则与企业筹资制度的冲突与立法探析

中国在新修订的《公司法》中,制定了新的条文与组织形式,同时坚持了传统的资本三原则。实践中,公司为了坚持资本维持原则,经常与企业的筹资发生冲突,导致公司筹资困难。从解决企业筹资困境的制度与立法分析中可获知,公开发行公司可采用“无面额股”或“低面额股”的方式来发行股票;资本维持原则只能在某种程度上保障债权人的权利。目前使用何种资本控制手段才能全面保障债权人的权利,是个值得探索的问题。

The Analyze to the System and Lawmaking Disputed between the Principle of the Corporation Capital Maintain and the Solution to the Corporation Capital Raise Fund's Jam

In the new amendment of the Chinese Company Law,new statutes and organizational forms are made,and also three traditional capital principles are kept.In order to keep the principle of capital persistence,the company always comes into conflict with the corporation capital raising fund,leading to having difficulty in financing the company in the practice.By analyzing the system of the company capital raising fund as well as its lawmaking,companies can issue publicly its stocks by means of "no par value stock" or "low par value stock".The principle of the capital persistence can only protect the creditor's right to some extent.It is worthwhile to be discussed how the creditor's right can be entirely protected.