Convergence Of The Governance Structure Of Public Funds

Part One introduces charitable fund governance from the fact of the rise of the third sector and the prosperity of foundations. Part Two explains relevant terms and makes the point of the dissertation----the convergence of charitable fund governance. Part Three demonstrates the background of convergence from the perspective of external legal framework, mainly the legal frameworks of charitable institutions governing charitable fund, mainly charitable trust and charitable foundation in both civil law system and common law system. This part compares the foundation corporation and the association corporation, presents the historical development of foundations in some civil law countries, and in common law countries studies the legal framework, including the scope, the legal form and the legal source of American foundations. Part Four demonstrates the basis of convergence from the perspective of internal legal structures of corporation and trust. This part points out that corporation and trust, with the function of "assets partitioning", especially the "affirmative assets partitioning" qualify themselves as legal entities, which are different from contract. Then on the premise of legal entity, the part analyzes the convergence of internal legal structures of corporation and trust. Part Five demonstrates the facts of convergence from the perspective of internal governance that both corporation and trust adopt the board-oriented style for governing charitable fund and both have to supervise and regulate the board powers. Part Six demonstrates the content of convergence from the perspective of the responsibilities of directors and trustees. It clarifies the definition of trustee duties and fiduciary duties and their historical evolvement, specific contents and different standards, and finally the convergence of the two duties. Part Seven attempts to indicate the enlightenment of the convergence of charitable fund governance to China and to put forward some recommendations. First, to adopt "foundation corporation" as the legal form for foundations, while leaving some room to trust foundation in the future corporation and trust; second, to settle charitable trust against foundations as trustee----the operation-oriented charitable fund governance; third, to settle charitable trust against trust corporations as trustee----the donation-oriented charitable fund governance. Part eight finally concludes that sound charitable fund governance contributes to the establishment of welfare society.