论商事登记中的信息公示——以信息经济学为视角

On Publicity of Information in Commercial Registration: From the Perspective of Information Economics

从信息经济学视角来看,商事主体是一个信息高度不对称的"产品",商事登记构建的登记信息市场是各类商事主体资信信息的汇集点与交换场所。信息公示制度的建立不等于信息的有效传播与交换。登记信息市场信息不对称将引发"逆向选择"和"道德风险",阻滞信息的传播与交换。为更好的实现信息公示,商事登记信息公示规则的设计,应遵循信息经济学的规律,构建高效的登记信息市场,及时、准确地公示商事主体资信,加快信息的传播和交换,缓解市场信息不对称现象,促进市场竞争,提升社会福利,完成制度使命。

Commercial subjects can be regarded as “asymmetric information products” from the perspective of information economics. The information market established by the commercial registration is a place where there is a convergence and exchange of information on commercial subjects. The establishment of the system of publicity won’t always lead to the effective transmission and exchange of information. Asymmetric information phenomena will cause Adverse Selection and Moral Hazard, which will cease the transmission and exchange of information. In order to fulfill the publicity function of commercial registration, the rule of publicity should have compliance with the law of transmission and exchange of information to establish an efficient registered-information market, where reputations of commercial subjects can be accurately publicized along with the increasing efficiency of transmission and exchange of information aiming tomitigate the negative effect of asymmetric information, and subsequently promote competition of market as well as social welfare, ultimately accomplishing the mission of the system.