股东权的产生逻辑:一个契约理论的考察

The Evolvement of the Shareholders' Rights from the Scope of Contract Theory

传统公司法理论没有解决股东权产生的经济根源,结合经济学和法学研究的公司契约理论为股东权产生逻辑的研究提供了全新的理论视角和工具。以财产权为起点,文章从契约理论上对股东权的产生逻辑进行了研究。股东权的产生逻辑取决于财产权的让渡、企业所有权的安排、契约的机制,这揭示了股东权的经济根源,即剩余索取权和剩余控制权的契约安排。

The traditional theory of corporation cannot tell us the economic basis of the evolvement of shareholders＇ rights, while the contract theory of corporation connecting economics and jurisprudence provides us a wholly new perspective and means to study the evolvement of shareholders＇ rights. With the start of property right, the treatises observe the evolvement of shareholders＇ rights by the contract theory. The evolvement of shareholders＇ rights relies on the alienation of property right, the arrangement of the enterprises＇ ownership and the contractual mechanisms, which bring to light the economic basis of shareholders＇ rights, that is to say, the contractual arrangement of residual claims and residual control.