摘要
在互联网经济背景下,创业者在发现商机与创新商业模式方面的优势越来越明显,而投资人在商业模式上的“外行人”属性越来越明显。人力资本与物质资本角色的重新定位成为了现代公司治理模式变革的内在推动力。公司的最终决策权仍属于物质资本所有者的传统公司控制权机制,不符合现代公司治理对决策效率的要求。为免除创业者们有“为他人做嫁衣”的后顾之忧,建议“同股同权”原则的适用应限制在物质性决策权方面,如重大资产重组、股东分红等,而对于那些直接与公司经营发展相关的管理方面的决策权,即管理性决策权应尽量让渡给具有商业智慧与决策能力的创业者们。
In the context of the Internet economy,the advantages of entrepreneurs in identifying business opportunities and innovating business models are becoming more and more prominent,while the“outsider”nature of shareholders in business models is becoming more and more evident.The repositioning of the roles of human capital and physical capital has become an inherent driving force for change in the modern corporate governance model.The traditional corporate control mechanism in which the ultimate decision-making power of the company belongs to the owners of physical capital does not meet the requirements of modern corporate governance for decision-making efficiency.In order to eliminate the concern of entrepreneurs that their efforts may be“doing the work for others”,this article suggests that the application of the“one share,one vote”principle should be limited in the decision-making power in economic interests,such as major asset restructuring,shareholder dividend,etc.;while the decision-making power in management interests—the control right related to the company's operation and management decisions—should be transferred to the entrepreneur team with business wisdom as far as possible.
作者
程磊
杨俊
CHENG Lei;YANG Jun(School of Law,Heibei University of Economics and Business,Shijiazhuang 050061;Hebei Professional College of Political Science and Law,Shijiazhuang 050061,China)
出处
《河北法学》
北大核心
2023年第7期170-186,共17页
Hebei Law Science
基金
河北省社会科学基金项目“‘互联网+’新业态用工关系的法律界定与规制”(HB20FX005)的阶段性成果
河北省社会科学发展研究课题“疫情下民营企业的经济降损与自救研究”(项目编号20220202308)
河北经贸大学国家课题培育项目“转型中国隐性司法成本研究”(2020PY08)的阶段性成果
关键词
控制权机制
同股同权
双层股权
物质性决策权
管理性决策权
corporate control mechanism
one share,one vote principle
dual-class stock structure
decision-making power in economic interests
decision-making power in management interests
