论资本溢价的法律性质--以司法实践的分歧及裁判路径为切入点  

Legal Nature of Capital Premium--Starting from the Differences in Judicial Practice and the Way of Adjudication

作　　者：吴倩莺 Wu Qianying(East China University of Political Science and Law,Shanghai 200050,China)

机构地区：[1]华东政法大学法律硕士教育中心,上海长宁200050

出　　处：《福建金融管理干部学院学报》2020年第2期51-57,共7页Journal of Fujian Institute of Financial Administrators

摘　　要：资本溢价是指公司在筹集资本金活动中,公司股东缴付的出资额超出其认缴注册资本的差额。在司法实践中,资本溢价性质存在着“资产”“资本”抑或“财产”之争,对于其可否返还也存争议。资本溢价为公司资产,例外情形为公司资本;且资本溢价返还具有可行性。但是为避免资本溢价返还造成公司陷入经营僵局甚至破产,在司法裁判中,资本溢价应以公司投后价值的合理估值为基础;且基于合理估值及过错责任予以部分返还;进一步,返还需考量履行的可行性。Capital premium refers to the difference between the amount of capital paid by shareholders of a company and the amount of registered capital subscribed.In judicial practice,there are disputes about the nature of capital premium,such as"assets","capital"or"property",and whether it can be returned.Capital premium reflects the real market price of each share of the company winning the commercial transaction.The capital premium is the company's assets,with the exception of the company's capital.The return of capital premium is feasible,but in order to avoid the deadlock of operation or bankruptcy caused by the return of capital premium,capital premium should be based on reasonable valuation and be based on reasonable valuation to return.Furthermore,the feasibility of performance should be considered in return.

关 键 词：资本溢价 公司资产 资本溢价返还 合理估值 履行可行性 

分 类 号：D912.28[政治法律—民商法学]