反垄断法与公司法视阈下公司“控制权”认定的冲突与调和  

Conflicts and Reconciliation in the Determination of“Control”from the Perspectives of Anti-Monopoly Law and Company Law

作　　者：吴佩乘 童禺杰 Wu Peicheng;Tong Yujie(Guanghua Law School,Zhejiang University,Zhejiang Hangzhou 310008,China)

机构地区：[1]浙江大学光华法学院,浙江杭州310008

出　　处：《上海财经大学学报（哲学社会科学版）》2024年第5期139-152,共14页Journal of Shanghai University of Finance and Economics

基　　金：国家社会科学基金青年项目“我国互联网平台封禁行为的反垄断规制研究”(23CFX028)。

摘　　要：在现代公司的集团化经营趋势下,公司“控制权”问题正在发生由传统内部治理向外部治理扩张的功能转变。在股权收购、合并等可能涉及一方控制权变更的情形时,经营者的行为可能同时受到《公司法》和《反垄断法》的调整,这一趋势模糊了两法原本界限分明的规范边界。现行公司法和反垄断法视阈下的控制权既有重合又有差异。重合体现为作为后发性法律的《反垄断法》在概念表述和标准上对《公司法》的借鉴,但实践中两法的控制权认定方式和认定的确定性均存在不小差异。《公司法》的基础性和《反垄断法》适用的不确定性导致公司实践中仍普遍遵循公司控制权的认定标准,但两法立法目的的差异导致单一面向的参照适用带来了难以预期的反垄断风险。为因应公司控制权功能扩张造成的违法风险,反垄断法和公司证券法律应当形成相向而行的制度动势,同时建立同频共振的协调机制,共同为公司经营注入法治活力。With the increasing trend of corporate group operations in modern companies,the issue of“control”is shifting from traditional internal governance to external governance.In cases of equity acquisitions,mergers,and other situations that may involve changes in control,the behavior of operators may be simultaneously regulated by both the Company Law and the AntiMonopoly Law.This trend has blurred the once clear boundaries between the two sets of laws.The concept of control under the current frameworks of company law and anti-monopoly law shows both overlaps and differences.The overlap is reflected in the fact that the laterdeveloped Anti-Monopoly Law draws on the definitions and standards of the Company Law.However,in practice,there are significant differences between the two laws in terms of the methods and certainty of determining control.The foundational nature of Company Law and the uncertainty in the application of Anti-Monopoly Law mean that companies typically follow the control determination standards of Company Law.However,the differing legislative purposes of the two laws have led to unforeseen anti-monopoly risks when relying solely on one legal framework.To address the risks of legal violations caused by the expanding functionality of corporate control,anti-monopoly law and company securities law should develop towards a converging institutional momentum.From a legislative perspective,it is important to eliminate the path dependency in determining control that results from the separation of different branches of law.A structured governance approach should be adopted to address the impact of corporate group trends on the divided legal framework.At the regulatory level,the differences in control determination methods can be bridged by unifying the recognition elements and understanding of“decisive influence”.Additionally,the Anti-Monopoly Law should adopt presumed rules and safe harbor rules based on corporate control standards to enhance legal certainty in control determination.On the enforcement s

关 键 词：反垄断法 公司法 控制权 经营者集中 公司集团 

分 类 号：D912.29[政治法律—民商法学]