摘要
董事会角色定位是《公司法》修改的重中之重。建议超越股东会中心主义、董事会中心主义与总经理中心主义之争,重构基于股东中心主义价值观的董事会制度,确认董事会是公司业务执行机构,并对股东会负责。董事会或总经理的中心主义均有悖信托关系与代理关系的基本逻辑。董事会职权不源于天授神赐或立法者恩典,而是源于股东委托授权。董事会(经理人)中心主义仅是美国大公司经历的三大治理模式之一。畸形的两权分离模式与董事会中心主义模式并非全球公司的标配模式。在不剥夺或减损股东会固有法定职权的前提下,章程可视公司具体情况适度扩充或缩减董事会职权。董事会职权的法律规定是任意性规范。章程与股东协议可限制董事会职权的范围与行使方式,股东会有权推翻董事会的不当决策,但不能对抗善意相对人。股东会特别决议可要求董事会实施或不实施特定行为,但这不导致董事会在特别决议作出前已实施的行为无效,也不得对抗善意相对人。限制董事会的章程、股东会决议只要在公司登记机构登记、备案或公示,即可自动对抗任何相对人。
The role of the board is the top priority of Corporate Law reform.The debates between the centralism models of the shareholders'meeting,the board and the CEO should be surpassed,the board system based on shareholder-primacy should be restructured,and the board should be defined as corporate executive body and responsible to the shareholders'meeting.The primacy of the board or the CEO is contrary to the basic logic of trust and agency.The authority of the board does not derive from God-given or legislator's grace,but from shareholders'delegations.Board(CEO)-primacy is only one of three governance models that large American corporations have experienced.The deformed separation of ownership from control is not the perfect model for global corporations.Without depriving or derogating from the inherent statutory powers of the shareholders'meeting,the charters may appropriately expand or reduce the powers of the board according to corporate specific circumstances.The legal provisions for the powers of the board are default rules.The charters and the shareholders'agreement may limit the scope and exercise of the powers of the board,and the shareholders'meeting may overturn the improper decision of the board,but it may not defend against bona fide third parties.A special resolution of the shareholders'meeting may require the board to perform or not to perform a specific act,but it does not invalidate the act that the board has carried out before the special resolution is made,nor shall it defend against bona fide third parties.The charters and the resolutions of the shareholders'meeting can automatically defend against any third parties as long as they are registered,filed or published with corporate registration agency.
出处
《财经法学》
CSSCI
2023年第4期3-22,共20页
Law and Economy
基金
全国人大常委会法工委2019年度重点课题“公司法修改研究”(2019K20205)
全国工商联2022年重点课题“法治民企研究”(2022K20125)的阶段性研究成果。
