论公司慈善捐赠的信息披露——制度构建的必要性与可行性研究

On Information Disclosure of Corporate Charitable Donatio——Reseach of Necessity and Feasibility of System Building

公司慈善捐赠信息披露问题在国内外存在很大争议。是否要求公司强制披露慈善捐赠信息要考虑公司慈善捐赠对理性投资者的影响以及公司保护自身商业秘密的需求,而公司慈善捐赠信息披露对伦理投资者的投资选择也有重大影响。公司具有自愿披露慈善捐赠信息的动机,但在我国建立以强制性信息披露为主的慈善捐赠信息披露制度,是为了保护公司利益相关者的知情权、规制公司经营者在慈善捐赠中可能出现的自利行为和不负责行为。当前我国公司慈善捐赠信息披露还存在很大的随意性和不一致性,我国《公司法》、《证券法》应明确规定公司慈善捐赠信息披露的形式、内容,要求公司强制披露重大慈善捐赠的决策主体、决议程序、捐赠数额、捐赠对象、受赠人与公司经营层的关系等信息,并建立信息披露豁免配套制度。

There is much controversyabout Company charitable contributions disclosure at home and abroad. Whether to require companies to disclose charitable donation should consider the impact of donations on rational investors and the need to protect company＇s trade secrets. Company charitable donations information disclosure also has a significant impact on choice-making of ethical investors. The company has voluntarily motive of disclose information on the charitable donations, but in our country to establish charitable donation information disclosure system based on mandatory disclosure is to protect stakeholders＇s know right, regulate the no-responsible and self-interested behavior of managers in the charitable donations. At present there are considerable arbitrariness and inconsistencies in our company＇s donations information disclosure. Our ＂ Company Law＂ , ＂ Securities Law＂ should formulate the form, content of donations information disclosure clearly, requiring companies to disclose significant charitable donation decision-making body, the resolution process, donation amount, donor object, the recipient＇s relationship with the company management level etc, and establish information disclosure exemption system.