数字经济时代的公司法回应  

作　　者：李晓波 

机构地区：[1]中国人民大学法学院

出　　处：《数字法治》2024年第1期27-39,共13页DIGITAL LAW

摘　　要：数字经济时代,公司在发展中出现了区别于传统公司治理的新特征。数字技术对于公司治理的深度介入和商人组织在此基础上频繁的商事创新,使传统公司法难以应对数字经济时代的公司治理需求。股东积极主义运动的冲击、“一股一权”原则被突破和内部管理结构扁平化的趋势,使基于两权分离理论构建的公司法规则体系有被悬置的危机。数字技术的介入使公司治理产生“形变”,但尚未引发公司治理的“质变”,公司治理顽疾中“人”的因素的影响无法通过技术根除。公司法应当在规范层面积极回应被代理人成本问题,明确实际控制人的公司治理主体地位,实现权责统一,并通过规范设计保护和鼓励投融资方式的创新。In the era of digital economy,companies are exhibiting new characteristics that are different from traditional corporate governance.The extensive application of digital technologies in corporate governance,along with the frequent commercial innovations by business organizations,challenges traditional corporate law to satisfy the needs of corporate governance in the era of digital economy.The impact of shareholder activism,the breakthrough of the“one share,one vote”principle,and the trend toward a flattened internal management structure have led to the crisis for the traditional corporate law,which is founded on the separation of ownership and management theory.While the application of digital technology has induced a“morphological change”in corporate governance,it has not yet caused a fundamental“qualitative transformation”.The enduring problems in corporate governance related to human factors cannot be completely eliminated by technology.Corporate Law should respond positively to the principal costs,clarify the governance status of the actual controller,ensure the alignment of their powers and responsibilities,and foster the innovation of investment and financing methods.

关 键 词：数字经济时代 股东积极主义 公司治理 公司法改革 

分 类 号：D912.29[政治法律—民商法学]