我国信托财产权制度的经济学分析

Economic Analysis of the System of Trust Property Right in China

运用新制度经济学的相关理论,阐述了我国信托财产独立性的强制性法律规定为交易安全提供了前提条件且符合效率原则。在此基础上,对信托财产权在委托人、受托人及受益人之间围绕信托财产所产生的一系列权利、义务和责任应如何界定,由信托财产可转让性产生的权利分离以及我国信托法关于信托财产权的保护规则是否符合效率原则等问题进行了论证。从信托公示制度的建立,受托人报酬的获取,如何对三方当事人权利、义务作出有效平衡等方面提出了制度创新途径,以寻找更能促进经济发展的财产权制度。

Based on the theory of new institutional economics, the compulsory legal regulations and rules for the independence of trust properties are analyzed to provide the premise for safe and efficient deals. Then, how to define the right, obligation and liability of the trustor, trustee and trust beneficiary, which are all arising from the trust property, is discussed to demonstrate whether the separation of right due to the assignability of trust property and the rules to protect the trust property right based on the Law of Trust in China are in conformity to the principle of cost effectiveness, with some other problems involved. In addition, a new way is proposed as system innovation to solve the problem of how to balance effectively the rights/obligations of the trustor, trustee and beneficiary in view of establishing a promulgation system of trust and acquiring payment to trustee, with the intention of seeking for an effective system to accelerate economic development.