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衍生金融工具的演变对公司法股东至上原则的影响及修正
引用本文:叶德珠,梁涛.衍生金融工具的演变对公司法股东至上原则的影响及修正[J].经济与管理研究,2010(5).
作者姓名:叶德珠  梁涛
作者单位:1. 暨南大学经济学院金融系,广州市,510632
2. 广东金融学院经贸系,广州市,510521
摘    要:传统公司法以股东至上为基本原则,并以此为轴心进行系列制度安排.衍生金融工具的应用,使股票与债券等原生金融工具蕴涵的收益与风险要素得以重新打包组合,满足投资者个性化需求.但是附着原生金融工具上的法律的权利与义务却未能完全对应地转移,使得股权与债权的界线逐渐模糊,形成公司法对除股东以外的其他类型投资者保护的缺口.公司法应该对这些新型的交易关系进行确认,对股东至上原则进行修正,调整保护对象和范围,容纳更多的与公司发展攸关的利益主体的利益诉求.

关 键 词:衍生金融工具  投资者保护缺口  公司法  股东至上  利益相关者

The Effects of the Development of Financial Derivative Instruments on Shareholder Primacy Principle
Ye Dezhu,Liang Tao.The Effects of the Development of Financial Derivative Instruments on Shareholder Primacy Principle[J].Research on Economics and Management,2010(5).
Authors:Ye Dezhu  Liang Tao
Institution:Ye Dezhu,Liang Tao (School of Economics,Jinan University,Department of Finance and Trade,Guangdong Finance Institute)
Abstract:In tradition,the company law regards the shareholder primacy as the basic principle and makes a series of institutional arrangement accordingly.Financial derivative instruments helps company meet the demand of individual investment. But due to the failure of corresponding transfer of the rights and obligations in law attached in these original financial instruments,the boundary of share rights and bond rights are becoming blurred gradually.This leads to the shortage of investor protection.Company laws shoul...
Keywords:Derivative Financial Instruments  Investor Protection  Company Law  Shareholder Primacy  Stakeholder  
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