Research On The Legal Regulation Of Corporate Donation

Corporate donation system has an important significance to the market economy and the companies’own development, and it is an important legal system in the modern company law. With the development of economy and the progress of the society, the companies’own economic strength is growing gradually, and the expanding pursuit of maximum benefits for shareholders has great impact on society. Under this situation, corporate social responsibility theory emerges, which emphasizes that the interests of all societies should be maximized and enhanced in the pursuit of maximum benefits for shareholders. Corporate donation is direct way to take social responsibility and to improve the social welfare.At present, the companies have become the major contributor to the public welfare, and play an active role in promoting social wealth redistribution and the growth of public welfare. However, due to the history of company system in our country is not long, the cognition of "corporate social responsibility" is still immature, the institutionalized and standardized operation mechanism has not yet formed, corporate donations have many problems in practice, such as company false donations, corporation malicious donations to evade debts, corporate donations can not be realized or not be fully realized. These acts harm the legitimate rights and interests of the stakeholders, and are not conducive to the maintenance of social welfare. The company donated the specific system design should reflect the balance of the interests of shareholders, the corporation interests and the social interest, which is mainly reflected on identification of donation, attribution of decision-making power, amounts and object of donation as well as rights relief mechanism of shareholders. Under the imperfect legislation, arrangement of decision-making power, refinement of directors’ fiduciary duty as well as definitude of amounts, objects, and decision-making processes act to bind corporation donations in the company. While out of the company, stakeholders need to use the provisions in "Company law" and "Contract law" to relief their own rights and correct inappropriate behaviors of corporate donations. The ultimate goal of legal regulation is to encourage companies to donate, to safeguard the interests of shareholders, corporate interests and social interests, thus to promote the harmonious development of society.