论上市公司对外担保公告类型及其责任承担  

On the Types and Liabilities of External Guarantee Announcements of Listed Companies

作　　者：房绍坤[1] 寇枫阳 FANG Shao-kun;KOU Feng-yang(School of Law,Jilin University,Changchun 130012,Jilin)

机构地区：[1]吉林大学法学院,吉林长春130012

出　　处：《厦门大学学报（哲学社会科学版）》2022年第6期104-116,共13页Journal of Xiamen University(A Bimonthly for Studies in Arts & Social Sciences)

基　　金：国家社会科学基金重点项目“授权资本制法律改革研究”(21AFX018)。

摘　　要：《民法典担保制度解释》第9条在保护上市公司担保人利益的立场下,以对外担保公告作为“全有或全无”责任模式的构造基础。对外担保公告实践的实证研究表明,上市公司存在利用公告规避担保责任的行为,“全有或全无”的责任模式与公告类型不相匹配。证券监管规则与交易规则融合的过程中,仍应从交易安全保护的实质标准出发,化解与商业效率之间的冲突。基于公告的公示性与信赖强度,第9条的“公告”要件应目的性限缩为强信赖公告,上市公司应承担担保责任。弱信赖公告下,基于上市公司违反说明义务的故意,依《民法典》第500条第2款应承担缔约过失责任,区分债权人为商事主体与民事主体,分别类推适用《民法典担保制度解释》第17条第1款第1、2项以确定责任范围。In order to protect the interests of guarantors of listed companies,Paragraphs 1 and 2 of Article 9 of the Supreme People’s Court’s Interpretation of the Guarantee System of the Civil Code take external guarantee announcements as the structural basis of the“all or nothing”liability mode.Empirical research on the practice of external guarantee announcements shows that listed companies use announcements to avoid guarantee liability,and the“all or nothing”liability model does not match the type of announcements.In the process of integrating securities regulatory rules and trading rules,the conflict with commercial efficiency should be resolved based on the essential standards of trading security protection.On the basis of the publicity and reliance strength of announcements,the constitutive element of“announcements”in Paragraphs 1 and 2 of Article 9 of the Supreme People’s Court’s Interpretation of the Guarantee Systemof the Civil Code should be purposefully limited to strong reliance announcements,and listed companies should bear guarantee liability.Under weak trust announcements,based on their intention to breach the obligation of explanation,listed companies should assume the liability for contracting fault according to Paragraph 2 of Article 500 of the Civil Code.On the basis of distinguishing the creditor as the commercial subject and the civil subject,the scope of liability can be determined by analogy of Subparagraphs 1 and 2 of Paragraphs 1 of Article 17 of the Supreme People’s Court’s Interpretation of the Guarantee System of the Civil Code.

关 键 词：上市公司 信息披露 担保公告 公示效力 信赖保护 缔约过失 

分 类 号：D913[政治法律—民商法学]