资本制度改革背景下的人力资本出资问题研究

发布时间：2018-01-18 08:27

本文关键词：资本制度改革背景下的人力资本出资问题研究　出处：《南京大学》2015年硕士论文　论文类型：学位论文

【摘要】：知识经济的时代,人才日益成为企业竞争力的核心,作为一种稀缺性的资源,人力资本在经济社会发展中的作用已经超过物质资本。《公司法》于2013年进行了一次以资本制度改革为核心的修改,修改后放宽了法定资本制下对于资本的严格管制,主要体现在取消最低注册资本限额、改实缴登记制为认缴登记制等方面,但是对于资本制度中的重要内容之一——出资形式问题并没有改动,仍然将人力资本、信用等形式排除在法定出资形式之外。尽管此次修法对于人力资本出资仍采取保守态度,但无论从理论还是实践层面看,认可人力资本出资都有着迫切的需要。从历史来看,我国的资本制度构建主要借鉴大陆法系的经验,秉承法定资本制,在资本信用的理论引导下主张对资本实行严格的管制。但随着资本信用到资产信用理念的转变,学界逐渐认识到对于资本加诸的限制非但难以起到保护债权人的作用反而降低了公司法对于效率的促进作用。正是在这种观念的引导下,我国2013年进行了一次资本制度改革,修改后的公司法虽未将人力资本纳入到出资形式之中,但是放宽对资本的管制之后,允许股东或发起人对于出资内容进行自主的约定,为人力资本出资提供了制度上可能。人力资本出资的问题不仅仅是一个法律问题,更是经济学上的重要课题。人力资本分享企业产权具有其必然性,因企业本质上就是一个人力资本和非人力资本的特别合约,企业家的出现大大降低了市场配置资源的成本。从法经济学的角度来说,人力资本作为出资形式提供了一种新的合约安排的选择,更利于人力资本分享企业产权。虽然目前各国对人力资本出资采取不同的态度,有的完全放开,有的保留限制,但世界范围内的资本制度变革浪潮尚未平息,为适应现代商业发展的需要,对人力资本出资的限制也将日趋放松。以往对于人力资本出资提出质疑多集中在其本身作为出资的适格性和估值的困难两个方面。资本信用体系下,作为出资形式除了须具备价值增值的能力外更重要的是承担债权担保的功能。但是这一观念遭到了学术界的广泛批判,认为资本对于债权的担保功能甚微,作为出资形式只需满足价值增值的能力即可。人力资本作为对公司经营有益的资本,满足出资标的物的适格性要求。对于人力资本的评估难题主要是技术上的困难,在商业估值技术不断发展、各要素市场广泛建立起来的今天,这一难题已不足以阻止人力资本作为公司的出资形式。针对人力资本出资技术上的障碍,本文结合我国的立法和实践情况,对出资时的评估与缴付、出资后的转让与退出环节进行理论建构,从而保障人力资本出资制度能够充分发挥其激励功能,促进人力资本价值的发挥。
[Abstract]:In the era of knowledge economy, talents are increasingly becoming the core of enterprise competitiveness, as a scarce resource. The role of human capital in economic and social development has exceeded that of material capital. In 2013, the Company Law made a revision with the capital system reform as the core. After the revision of the legal capital system to relax the strict control of capital, mainly reflected in the abolition of the minimum registered capital limit, the transfer of the registration system to subscription registration system and so on. However, there is no change in the form of capital contribution, which is one of the important contents of capital system. Credit and other forms are excluded from the legal form of capital contribution. Although the law still takes a conservative attitude towards human capital investment, it can be seen from both theoretical and practical aspects. From the historical point of view, the capital system construction of our country mainly draws lessons from the experience of the civil law system, adhering to the legal capital system. Under the guidance of capital credit theory, strict control of capital is advocated, but with the change of capital credit to asset credit concept. It is under the guidance of this concept that scholars gradually realize that the restrictions on capital are not only difficult to protect creditors but also reduce the promoting effect of company law on efficiency. In 2013, China carried out a capital system reform, the revised company law does not include human capital into the form of capital, but after the relaxation of capital control. Allowing shareholders or promoters to make an autonomous agreement on the content of capital contribution provides institutional possibilities for the contribution of human capital. The issue of human capital contribution is not only a legal issue. Human capital share enterprise property right has its inevitability, because the enterprise is a special contract of human capital and non-human capital in essence. The emergence of entrepreneurs has greatly reduced the cost of market allocation of resources. From the perspective of law and economics, human capital as a form of investment provides a new choice of contractual arrangements. Although different countries take different attitudes towards human capital investment, some completely open, some retain restrictions, but the wave of capital system reform in the world has not subsided. In order to meet the needs of modern commercial development. The limitation of human capital contribution will be relaxed day by day. In the past, the challenge of human capital investment has been focused on two aspects: the suitability of human capital contribution and the difficulty of valuation. Capital credit system. As a form of capital contribution, besides the ability to add value, it is more important to assume the function of creditor's rights guarantee, but this concept has been widely criticized by the academic circles, which holds that capital has little guarantee function for creditor's rights. As a form of capital contribution, only the ability to meet the value added value can be satisfied. Human capital is the beneficial capital for the operation of the company. To meet the eligibility requirements of the subject matter of capital contribution. The evaluation of human capital is mainly technical difficulties, in the business valuation technology continues to develop, the factors of the market has been widely established today. This difficult problem is no longer enough to prevent human capital as a form of corporate investment. In view of the technical obstacles of human capital contribution, this paper combines the legislation and practice of our country to evaluate and pay the contribution. The transfer and withdrawal after capital contribution are theoretically constructed to ensure that the system of human capital contribution can give full play to its incentive function and promote the exertion of human capital value.
【学位授予单位】：南京大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：D922.291.91

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