富强语境下中国近代股份制实践及启示.PDFVIP

证券史 “富强”语境下中国近代“股份制”实践及启示 刘保钰 (清华大学法学院，北京 100084) 摘要：近代知识分子在实现国家富强的历史课题下，把西方股份制移植到中国。但由于股份制根植于西方的文化土壤，内 生于西方法治环境和信仰道德体系，其运行机理受制于法律制度和社会文化环境，而晚晴时期的盲目移植则忽视其生存的 “物境”，仅移植其“语境”，用其“形”、舍其“真”，使得制度移植结果并不理想。总结近代经验，由此带来的现代 启示是应当注重股份制所需要配套制度建设与人文环境培养，具体包括注重法律的体系化建设、法规体系的统一性、国家 监管与市场机制的调和，并营造市场所需要的人文环境。 关键词：股份制；近代证券市场；股权文化；近代证券史 Abstract: The western shareholding system was first introduced into China by Chinese intellectuals in modern times under the pursuit of national wealth and power. The eventual outcome, however, was a failure. The reason for this is that shareholding system was derived from western legal environment and western moral and belief system, was ingrained in their culture, but its operational mechanism was constrained by both. Late Qing Government was so eager for quick success on national wealth and power that it abandoned the essence, the overall context, and only adopted the external form. This provides the experience to contemporary society that besides the shareholding system, the supporting system and humanistic environment should also be paid importance: the systematic construction of law, the unity of legal system, the reconciliation between government supervision and market mechanism, and the cultural environment that market needs. Key words: shareholding system, modern securities market, equity cultur, modern securities history 作者简介：刘保钰，清华大学法学院博士生，研究方向：宪法学。 中图分类号：F909.9 文献标识码：A 考察西方股份制的发展历史，股份有限公司产生于 其中，“工商富国”和“实业救国”成为富强图存最重 欧洲，源于西方的文化传统、社会风俗、道德伦理和信 要的理念。在实现国家富强历史使命下，以“师夷长 仰体系的环境，根植于西方基于“契约精神”所建构的 技”方法论为指导，西方股份制引起了晚清知识分子的 法治环境，也因此受制于契约、法律制度和道德伦理 关注，并被移植到中国进行实践。 体系。 1基于对社会生产力强大的促进作用，股份制在 十九世纪后半期流行于各国。2在鸦片战争后的“西学东 近代实践及其经验教训 渐”过程中，包括股份制在内的西方