美国商业判断规则的理论与实践

The Theory and Practice of American Business Judgment Rules

商业判断规则是肇始于十九世纪的一项判断董事责任的基本规则,其在司法实践中的适用已经日臻成熟。文章认为商业判断原则不是通过各因素逐一判断董事行为是否符合注意义务的实质判断标准,而是用来反对法院随意通过司法手段审查注意义务的一个基本假定。这种假定认为,除非原告可以预先证明董事等公司管理人员违反了商业判断规则中的"善意"假设,否则法院不能对其决策行为进行实质性审查。从我国对待商业判断规则应有的态度来看,我国应通过立法与指导案例并存的形式,积极引入商业判断规则,并对董事信义义务加以规定,以进一步完善我国的董事责任体系,促进市场经济的发展。

Business judgment rule is a basic rule about the liability of directors,which dates back to nineteenth century.And its application in judicial practice has become increasingly mature recently. The paper argued that business principles is not a substance criterion about judging whether the behavior of a director conforms to the duty of care through various factors,but a basic assumption against the random judicial review about duty of care. This assumption argued that court cannot conduct a substantive review of its decision-making unless the plaintiff can pre-prove that the directors and other managers of the company violate the ＂ goodwill＂ assumption in the business judgment rules. From the attitude of our country to treat the rules of commercial judgment,China should actively introduce the rules of commercial judgment through the form of coexistence of legislation and guidance case,and stipulate the directors ＇duty of faith to further improve the system of directors＇ responsibility and promote the development of market economy.