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法定资本仅仅是法律虚拟的抽象资本,它本身无法反映公司资产运营的实际状态,也就难以揭示公司的信用能力。授权资本制较之法定资本制在立法的理念上,已由公共利益至上的社会本位转向旨在确保平等、自由、竞争和效益的个人本位。它在功能设计上不再以公司资本具有担保债权实现的能力为中心,而是以给股东提供最大的灵活活动空间为己任,目的是在追求股东价值最大化的框架内,为私人秩序提供最大的回旋余地。我国公司资本制度不能继续沿着法定资本制度的路子走下去,我们能够选择的应是折衷资本制度。
The legal capital is only the abstract virtual capital of the law. It can not reflect the actual status of the assets operation of the company itself, and it is hard to reveal the credit ability of the company. Authorized Capital System Compared with Statutory Capital System In the concept of legislation, we have shifted from the social standard of public interest to the standard of the individual aimed at ensuring equality, freedom, competition and effectiveness. Instead of focusing on the ability of corporate capital to guarantee claims, it is its own responsibility to provide shareholders with maximum flexibility in their activities. The objective is to provide the largest private order within the framework of maximizing shareholder value Maneuver room. China’s corporate capital system can not continue along the path of the statutory capital system and we can choose the compromise capital system.