重思“特拉华迷思”——兼与傅穹教授商榷

Rethinking about the Myths of Delaware:A Discussion with Professor FU Qiong

在美国州际吸引公司注册的竞争中,特拉华州胜出,学界对此提出不同派别的猜想。特拉华州公司法偏向管理层而牺牲股东的利益还是偏向股东,目前尚无定论。特拉华的成功,很可能不仅仅在于其立法的先进,独特的司法体系和政治文化背景也在其中发挥了重要的作用。更重要的是超越特拉华成功的更深层次的问题:对公司注册有吸引力的公司法是否等同于有效率的公司法。

Delaware wins the competition of corporate chartering in the U.S.,which has aroused inquiry of different schools.However,it still remains open as to whether Delaware corporate law races to the bottom or races to the top.Moreover,the success of Delaware might not be attributed simply to its code.Its unique court system and political culture should also be given much consideration.A more profound question beyond the success of Delaware needing to be explored is whether a corporate law that is attractive in corporate chartering will necessarily be an efficient corporate law.