英国《公司治理综合准则》述评

The Combined Code in the UK:A General Review

英国的《公司治理综合准则》强调企业的自我管理。这部《准则》是在政府牵头、多方参与的情况下制定出来的,是英国实业界和金融界朝自我管理方向迈进的一个重要成果,是对英国严格的公司法传统和司法制度的一个有益补充。文中在对该《准则》进行述评的基础上,提出了一些关于该《准则》应如何发展的看法。本文作者认为,该《准则》还必须在条款的制定中更多地考虑利益相关者的权益,而不仅仅是公司股东。这是该《准则》应该考虑的一个发展方向。而且,这个《准则》对中国具有一定的借鉴意义。作为发展中国家,中国可以从中学习经验,从而完善我国的公司治理制度。

The Combined Code on Corporate Governance （＇the Combined Code＂ for short） in the UK emphasizes self-regulation on the part of enterprises. As a regulatory framework, this Combined Code was a government-led, widely-participated project that availed positive results of self-regulation for both the industry and the financial sector in Britain. It is an important supplement to the rigid tradition of corporation law and practice in the UK. This article gives a general review of the Combined Code, upon which to propose that it should incorporate into its considerations more of the stakeholder＇s interests, rather than a shareholder-centred approach. It has certain positive implications for China to improve its regulatory practice on corporate governance.