董事会制度的起源、演进与中国的学习

公司的两权分离和董事会作为决策中心、董事会采取共管与合议模式及董事作为公司责任的最后承担者是董事会的三个基本原则,各国立法几乎概无例外,并衍生出诸多细致规定。产权—不完全合同理论忽略了这些法律原则;结构—功能视角和关系型契约理论可以解释其合理性,但不能解释成因。按照政治—历史理论,董事会是为了确保组织独立性而出现的。随着公司从公向私的演化发展,这三个原则植根于法律制度之中。而中国对公司的理解是和融资、营利联系在一起的,受制于从功能上认识公司和传统观念,从清末接触公司概念以来,中国对董事会制度的理解一直较为薄弱,这也表现在现行法中。应结合政治理论理解董事会制度。

The System of Boards of Directors:Its Origin and Evolution and China's Learning Experience

Three features are dominant in corporate legislation and legal practice throughout the world:the separation of ownership and control and director primacy;the collegial model;and the board's ultimate responsibility for corporate actions.These principles also determine most derivative rules of corporate board.Property rights(incomplete contract) theory has overlooked these legal principles,and the structure-function perspective and relational contract theory can provide an explanation of their rationality but...