财产权对抗视角下有限公司股权变动模式再反思  

Reflection on the Equity Change Model of Limited Companies from the Perspective of Property Rights Conflict

作　　者：王毓莹 Wang Yuying

机构地区：[1]中国政法大学法律学院

出　　处：《政法论坛》2025年第2期58-70,共13页Tribune of Political Science and Law

基　　金：国家社科基金一般项目“执行异议之诉实体审查规则研究”(20BFX086)的阶段性成果。

摘　　要：新《公司法》第86条在股权变动问题上新增股权转让时应通知公司变更股东名册的规定,明确受让人可自记载于股东名册时向公司主张权利,在一定程度上可以解决实务中出现的股权转让纠纷。但“通知公司”这一程序的法律效力并不明了,这使得有限公司股权变动模式仍不清晰。通过赋予股权变动过程中不同时点以股权“变动”和“对抗”的不同法律效力,股权变动模式可归纳为意思主义和形式主义,前者包含纯粹意思主义和修正意思主义,后者包含公司认可生效主义和工商登记形式主义。其中,意思主义忽视了股权的特殊性,将组织型关系与纯粹的财产交易关系混为一谈,且实操局限性明显;形式主义中,公司认可生效主义不仅没有简化股权变动的规则,反而可能增加股权变动纠纷的诉累;工商登记形式主义立法成本过高,且过度关注股权的对世性特点。结合财产权的对抗效力理论与不完全权利说,可以发现股权权利状态存在一个从相对权向绝对权进化的过程。以权利对抗的法律思维为依据,新《公司法》第86条可以解释为一种知情生效主义,采取公司知情生效主义也可以更好地解决股权变动过程中的权利纷争。Article 86 of the new Company Law stipulates that when transferring equity,the company should be notified to change the shareholder register.It clarifies that the transferee can claim rights from the company when recorded in the shareholder register,which could solve some of the equity transfer disputes that arise in practice.However,the legal effect of the"notify company"procedure is unclear,which makes the mode of equity change in limited companies still unclear.By endowing different legal effects of share"transfer"and"exclude"at different points in the process of share transfer,the mode of share transfer can be summarized into ideology and formalism,the former includes pure ideology and revised ideology,and the latter includes corporate endorsement transferism and business registration transferism.Among them,ideology ignores the particularity of share,confuses organizational relationship with pure property transaction relationship,and has obvious practical limitations;in formalism,companyendorsement transferism doctrine not only fails to simplify the rules for share transfer,but may increase share Litigation of transfer disputes;business registration transferism doctrine legislation costs are too high,and excessive attention to the characteristics of the exclusive nature of share.Combining the theory of exclusive effectiveness of property and the theory of incomplete rights,it can be found that there is a process of evolution from relative rights to absolute rights in the state of share rights.Based on the legal thinking of rights confrontation,Article 86 of the new Company Law can be interpreted as a doctrine of informed change,the adoption of corporate informed transfer doctrine can also better solve the rights disputes in the process of share transfers.

关 键 词：股权变动模式 股权转让 公司登记 股东身份 对抗效力 

分 类 号：D922.291.91[政治法律—经济法学]