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公司控制权市场是借助市场机制,通过转移公司控制权以达到制约公司经营者,从而有效保障股东利益的一系列制度安排。在公司控制权市场机制运用最为成熟的西方发达国家,无论是主流理论抑或是立法、司法层面的制度实践,都无不围绕着一个基本的前提,即实现股东利益最大化。然而,伴随着公司法反主流的理论变革与制度实施,这一蕴含在公司控制权市场机制中的基本前提正受到质疑乃至巨大的冲击,公司控制权市场主流理论及其制度局限亟待作出重新梳理并进行相关法律制度的重新构建。
The control market of the company is a series of institutional arrangements that can effectively protect the interests of shareholders by means of market mechanism, transfer of control of the company to achieve the control of the company’s operators. In the developed Western countries where the market mechanism of corporate control is most mature, both the mainstream theory and the institutional practice at the legislative and judicial levels revolve around the basic premise of maximizing the interests of shareholders. However, along with the counter-mainstream reform of corporate law and the implementation of the system, the basic premise contained in the market mechanism of corporate control is being challenged and even challenged. The mainstream theory of the market of corporate control and its limitations need to be reorganized urgently And to reconstruct the relevant legal system.