Research On Corporate Property Credit Legal System

Corporate credit is the chain of the development of market economy,it has a great theoretical and practical significance for the construction and security of socialist market economy.At present,the lack of corporate credit in China has become a bottleneck that hinders economic development.In order to further improve socialist market economy in China,the key is to promote corpoate credit level.However,the improvement of corporate credit level requires not only the change of concept,but also the protection of law.There has always been a great controversy in academic circles about the theory of corporate credit legal system.The theoretical differences have led to a significant lag behind the realistic demand of corporate credit legal system.From the perspective of law,this article interprets the theoretical issues of corporate credit,clarifies the relationship between corporate credit,property law and corporate law,proposing a new corporate credit concept of “corporate credit is property credit”,attempting to perfect corporate credit system and solve the problem of corporate credit deficiency in the guidance of the concept of property credit.In addition to the introduction and conclusion,this article is divided into five parts.Chapter 1,the basic theory of corporate property credit legal system.Through the study of credit and corporate credit,this part proposes that corporate credit is the unity of the willingness and ability to fulfill the obligations and social responsibilities of a corporation,which is recognized by society.Corporate credit is not an abstract concept,but a special social relationship with specific elements.Among them,property is the core element.Through the analysis of property law,in the context of modern society,corporate property is considered to be an extremely broad concept,it is a right with all economic value.Corporate property has a basic and core value to the formation of corporate credit.Therefore,corporate credit is fundamentally corporate property credit.The essence of corporate credit system is corporate property credit system.Chapter 2,the justification of corporate property credit legal system.Based on the analysis of capital credit theory,assets credit theory,capital maintenance rule and insolvency test,this article considers that the principle of capital credit and capital maintenance rule is a product of market economy under certain historical conditions,however,its theoretical purpose and institutional purpose still have irreplaceable value in the establishment and maintenance of corporate credit.Assets credit theory does not benefit the construction of corporate credit because it lacks sufficient theoretical foundation.The application of insolvency test is extremely limited because of its strong subjective standards and it cannot maintain the stability of corporate assets.The realistic basis of corporate property credit perspective is the objective demand of market trading on corporate's ability to pay its debt,it has strong social adaptability,and has a solid theoretical foundation of sociology,economics and law.Therefore,it is the proper choice to establish corporate credit legal system based on corporate property credit.Chapter 3,the contents of corporate property legal system.Through the interpretation of corporate personality,corporate financial system,property law and accounting standards,it is considered that the corporate property credit legal system includes corporate property contribution system,corporate property protection system and corporate property information publicity system.Among them,property contribution system is the foundation of corporate property credit,corporate property protection system is the guarantee of corporate property credit,and corporate property information publicity system is the reveal of corporate property credit.They are supplemented and coordinated with each other in order to build and maintain corporate credit.Chapter 4,the deficiency of current legal system with respect to the regulation of corporate property credit.Based on the contents of corporate property credit legal system,this part analyzes current corporate law and property law concerning corporate property credit.In the formation and maintenance of corporate property credit,current corporate law have certain defects with respect to the regulations on capital contribution,distribution,corporate investment,share repurchase,self dealing and director's responsibilities,the current property publicity rules in property law cannot meet the requirement of the reveal of corporate's property credit,in addition,the accounting standards have also curbed the manifest of the corporate's property credit,so amendments and improvements are in significant need.Chapter 5,the integrity and realization of corporate property credit legal system.By redefining the debt paying ability of a corporation,it is believed that corporation's real demand for corporate credit is the corporation's going concern value.Based on the concept of efficiency and safety,it is believed that the perfection of the legal system of corporate's property credit should adhere to the principle of the balance of autonomy and compulsory,under the guidance of this principle,this part proposes amendments to current corporate law and property law.At the same time,the realization of corporate property credit legal system depends on the reasonable supply of relevant supporting system and the improvement of the system implementation environment.