上市公司股份代持的法经济学分析

The Law and Economic Analysis of the Equity Entrusted Holding of the Listed Company

从法律供求视角,结合相关典型司法裁判案例和执法案例,分析我国上市公司股份代持制度的供求现状,研究发现:应当增加股份代持制度供给。并采用成本效益分析方法研究如何增加制度供给。针对股份代持的制度设计,在《公司法》中要建立健全股份代持的基本规定,包括股份代持的效力、形式以及信息披露等;同时,在《证券法》中要完善股份代持的配套规定。

From the perspective of legal supply and demand,combining with the relevant typical judicial cases and law enforcement cases,this paper analyzes the current situation of supply and demand of the system of equity entrusted holding of listed companies in China,and concludes that the system of equity entrusted holding should be included,and use the cost-benefit analysis method to study how to strengthen the supply of institutions.In the light of the system design of equity holding entrustment,it is proposed that the company law should establish and perfect the basic rules of equity holding entrustment,including the norms of the validity,form and information disclosure of equity holding entrustment,in Securities Law to improve the supporting provisions on equity holding entrustment.