规模、效率、自由竞争与法定资本制

Scale, efficiency, competition and statutory capital system

资本的规模经营是公司组织形式的生命力所在;公司是一系列不完备的契约的结合,规模与效率要求弹性的资本制度;竞争经济条件下的公司要求富于弹性的公司资本制度;法定资本制无法单独挑起保护交易安全的担子,资本制度的选择与设计应更多地偏重于公司运营的效率以及自由竞争环境的维护,因此它应是富于弹性的;我国目前严苛的资本制度有必要进行改革,以逐步赋予其弹性。

Appropriate scale of capital operation is very important to a firm. A firm means a round of incomplete contracts. Scale, efficiency and competition require flexible capital system. Statutory capital system can not be the effective factor of protection of transaction security. Capital system must focus on protection of efficiency and competition. The strict capital system in current China ought to be amended.