董事性别结构多样化的法律规制

董事结构多样化日渐成为公司治理新焦点,其在质的一面可以提升公司治理质量,在量的一面可以增强公司业绩,也在私人层面践行性别平等之理念。但无意识性别歧视与行业限制、占优的董事男权与个人英雄治理文化、女性象征主义标签缠身、封闭的董事任免机制等因素都阻碍着女性进入董事会。同时,此问题的规制框架并非仅受公司法约束,在上市公司的维度,还受证券法、交易所上市规则等法律规范的规制。故域外围绕着性别这一特殊要素,就改善董事会结构,打破董事会性别失衡,增加女性董事比例展开了一场软硬兼施的运动式改革。总体改革措施包括定额/配额制、多样性信息强制披露规则、遵守或解释的公司治理准则、企业自我约束、市场外部压力等。具体规制手段的选择受制于一国在政治传统、公司治理模式、商业文化、制度竞争的压力模型等方面所面临的差异化图景,故建立中国公司性别多元化的董事会规制理路不可简单模仿他国模式。为推动董事性别多元化,基于我国当下促成董事性别多样性的既有手段和现实效果,参照域外经验教训,配套细化《上市公司治理规则》第25条;制定以董事会多样性为内容的信息披露和“遵循或解释”的董事性别多样化规则;建立以上市公司/国有企业为对象的定...

Legal regulation of directors gender diversity

Board diversity has become a new focus of corporate governance recently. Some researches have shown that on the quality side,it can improve the quality of corporate governance;while on the quantity side,it can enhance the company''s performance. At the same time, it also practices the concept of gender equality at the private level. However, unconscious gender discrimination and industry restrictions, dominant director male power and personal hero governance culture, female Symbolism label entanglement, closed director appointment and removal mechanism and other factors hinder women from entering the board of directors.The regulatory framework for this issue is not only constrained by company law, but also by legal norms such as securities law and exchange listing rules at the level of listed companies. Therefore, because of the importance of gender, many nations have launched a soft and mandatory reforming movement to improve the structure of the board of directors, break the gender imbalance in the board of directors, and increase the proportion of female directors. These measures include quota laws, mandatory disclosure rules for diversity information, comply or explain corporate governance guidelines, corporate self-restraints, etc. The political tradition of a country, corporate governance model, business culture, the pressure model of corporate law system competition will affect the selection of regulation measures. Therefore, establishing a gender diversified board of directors regulatory approach for Chinese companies cannot simply imitate other countries'' models. In order to promote gender diversity among directors, based on the existing regulations methods and realistic effect of the boardroom diversity in China, and referring to foreign experiences and lessons learned, support and refine Article 25 of the Governance Rules for Listed Companies; Following the Comply or Explain Rule, establish information disclosure for directors based on board diversity and the Comply or Explain Rule gender diversity rules; Establish a quota bill targeting listed companies/state-owned enterprises and provid certain support for women''s entrepreneurship funds at non normative levels.Implementing a phased construction path of autonomy first, mandatory supplementation and listed companies as the main body, state-owned enterprises as the auxiliary, should be the logical choice. It can also be discovered that different Chinese landscapes can be found in today''s seemingly homogenized corporate governance.