Under The Company Autonomy Of State Intervention

Company is the most important body of the modern market economy and the main feature of the market economy is the decision-making freedom of operational behavior. Academically, the theory of company autonomy has already reached a consensus, and company legislation in every country has also fully demonstrated the importance of company autonomy. It is the tendency that various countries' legislation practice will regard the company autonomy as important. Recently our country revises the Corporation Law, it is proposed to emphasize the company autonomy. The direction of the legislation also inclines to the expansion of company autonomy and to promote the spirit of company autonomy.However, companies are not isolated from the market economy, on the contrary, the companies' conduct in economic exchanges will have an impact on the other parts. So company autonomy has its own limitations. Company autonomy is really a necessity to make sure the development of the market is in order. Therefore, when company autonomy have been brought into full play, to overcome the limitations of autonomy becomes very necessary. And the involvement of state compelling force is the best, the most effective and the most common way, that is, state intervention.This paper is in full understanding and analysis of the company and its validity and limitations of autonomy on the basis of the autonomy of the company to overcome the limitations. The most effective way is state intervention. This paper also analyzes the dimension of state intervention, and the review on the basis of new Corporation Law under state intervention system. It attempts to achieve mutual harmony and unity.This article is divided into five parts:The first part: company autonomy and its legitimacy. Based on the company autonomy, this part analyzes the way of the realization of company autonomy. It points out that in order to realize company autonomy, the internal performance way is company's organizational structure, as well as the external performance way is the legal independent personality of the company.The second part: the limitations of company autonomy. The system of company autonomy has greatly promoted the development of the company, however, autonomy has its own limitations. Simple autonomy may trigger serious imbalance of interests between shareholders, between shareholders and their agents, as well as between creditors and employees.The third part: the state intervention. It is the good way to overcome the limitations of company autonomy. But it needs the help of law to regulate the conduct, and the power of intervention. The state intervention under Economic Law may be an important tool. It is the best option to overcome the non-rational behavior of companies. It is also the need to protect social equity and market efficiency.The fourth part: dimensions of company autonomy under the state intervention. State intervention is the intervention under the role of company autonomy. It is a reasonable regulation of company autonomy. And it is to correct the deviations of fundamental justice in order to achieve autonomy much better. State intervention is required within a moderate scope and it has its own dimensions. Interference with the autonomy companies has a common concept of justice. It is subject to the possibility of state intervention. State intervention has its limitations because it can only solve the partial problems. It is difficult to solve management problems of mismanagement, and non-legal mechanism also plays a significant role.The fifth part: a review and renew the legal system of company autonomy under state intervention. The purpose of writing this paper is to explore how to protect company autonomy under state intervention, so that companies will have a greater space of autonomy. The new Corporation Law opened a new era of company autonomy. Therefore, in this part, after expounding the new Corporation Law, it found that the state intervention is not in place, either inappropriate or excessive. So it provides an appropriate and a perfect proposal. Including the establishment of systems, mechanisms for protecting the interests of shareholders, creditors protection system, the system of autonomy in regulating and restraining mechanisms management, corporate social responsibility system. It also recommended the speedy introduction of relevant judicial interpretation of Corporation Law.