公司相互持股的利弊分析及其法律规制探讨

Mutual Share Holding in Companies:Advantages,Disadvantages and Legal Control

在现代公司实务中,公司间相互持股,在降低公司融资成本、经营风险,发挥规模经济的优势等方面起到了良好的作用,但也产生了使公司资本虚增、公司治理失去制衡、导致垄断等问题。鉴于公司相互持股带来的种种弊端,如何按照公司制度的基本原理制定相应规则对此行为加以规范,使其趋利避害,已成为我国当前公司立法亟待解决的重要课题。在对公司相互持股存在的问题进行较为系统分析的基础上,对规范提出意见。

Mutual share holding in modern company business operation can effectively decrease the cost of financing,minimize risks in operation and give full play to the advantages of a large-scale economy.However,it can also bring forth many a problem,including the false increase of capital,the unbalance of company governance and the production of monopoly.In respect to these problems,the regulation of mutual share holding in accordance with the basic principles of company running has become an urgent issue to be settled in company management.Based on a thorough analysis to the problems therein,this paper puts forward some suggestions to fulfill such a goal.