论有限责任制度的价值和功能

The Value and Function of the Limited Liability System

有限责任制度是指股东仅以出资额为限对公司承担责任,其核心是公司责任与公司成员责任的分离。有限责任制度是企业形态划分的依据及现代公司制度的基石,具有吸收众多投资者,从而能大规模吸收社会资金,降低监控成本,刺激管理者实施有效管理,优化资源配置,提升资本使用效率等功能。有限责任形态公司虽是现代伟大的制度创举,但也存在忽视企业债权人利益的保护和导致企业风险外化等局限。

Limited liability refers to the shareholders' responsibilities limited to the amount of capital confered.Its core lies in the separation of the responsibility of the compary and the responsibility of the members of the company.It is the basis for the classification of business division in modern corporate system.It has many functions,including absorbing large number of investors to absorb large-scale social capital;reducing monitoring costs,stimulating managers to implement effective management and optimizing the allocation of resources to enhance the efficiency of capital use,etc.As a most great pioneering work in modern times,the form of limited liability companies still has some limitations,such as ignoring the protection of the interests of the creditors and externalization of business risks.