Study Of "Three Principals Of Company Capital"

"Three principals of company capital" has usually been regarded as three classic company law principals of continental law family. Articles and clauses guided by this three principal rule the whole process of company establishing, managing and liquidating, lay the foundations of company capital system. So, this three principals has been regarded as the supreme principals of company capital system.However on the conditions of knowledge based-economy springing up, financial innovation changing with each passing day, and companies' social liability theory attracting more and more attention, the three principal system emerges split and disintegration, its creditor protecting function fades away. Traditional three principals of company capital has lagged the times, accordingly our countries' company capital system guided by this principal also disconnected to the countries' reality. Consequently, reform the effective company law with new theory has become a irresistible general trend.Paper begins with analyzing the three principals of company capital, connected with our company capital system, points out the flaws in the three principals and our companycapital system. And address to replace the "capital credit theory" by "asset credit theory", reconstruct our company capital system on the basis of "asset credit theory". The article includes 4 chapters, nearly 31,000 words. Chapter 1 introduces the three principals' meaning, essence and legal basis; chapter 2 analyzes the influence of the changes of social and economic background on the three principals of company capital; chapter 3 analyzes the internal conflicts of three principals; the last chapter proposes that reconstructs China's company capital system on the basis of "asset credit".The main opinion of this paper includes 3 points. First, the essence of three principals is the "capital credit", the whole system design centered on this essence; second, with the changing of social and economic background, three principals of company capital system has lagged the times, its internal relationship emerges split and disintegration, its creditor protecting function gradually fades away; third, we should orientate the general trend to give up the outdated three principals and reconstruct the effective company law on the basis of "asset credit".