近代 中國 會社企業의 制度實態 - 定款의 資本에 대한 諸 規定 分析-

This treatise observes articles of associations from 122 Chinese Corporation enterprises of all founded in the period of Gongsilu(公司律) and Gongsitiaoli(公司条例), and by focusing on various articles of association on capital, it inquires into the actual conditions of the company system in China. Target companies for analyzing are including not only famous companies, but also many companies that are not well-known. Summarizing the analyzed result, target companies were founded in the metropolitan ares such as Tianjin(天津) and Shanghai(上海), and it can be said they have permanence in ideology. The targets generally were issuing stocks based on the principles of capital definite(資本確定). Par values of stocks had wide ranges from 5yuan(元) to 150yuan, but 10yuan, 50yuan and 100yuan were used mostly. Because theses par values were large not small, some companies often issued two kinds of stocks, zhenggu(整股) and linggu(零股). It is found that zhenggu and linggu had no difference in profit share, but they were different in rights as shareholders. Usually, investments of a company were not paid in full, but paid on the installment such as two, three or four installment. To secure funds smoothly for starting a business, certain amount of money including the first installment was paid for preferred shares, and these shares were given preferential treatment in profit share compared with common stocks. Cooperation companies issued registered(inscribed) stock certificates to the stockholders who paid installments as statements of their positions. Stock certificates were issued 1 stock certificate per each stock, but single certificate was sometimes issued for plural stocks like five, ten and 100 stocks. Meanwhile, Cooperation companies were not able to retrieve their investment, but they could transfer their stocks to others only through regulations of their companies after certain processes. Yet, it was prohibited to transfer stocks to others personally without reporting to the company, and especially it was forbidden fundamentally to transfer stocks to foreigners. When transferring stocks, target companies enacted that they could transfer stocks only after they sound out their stockholders This kind of restriction is showing that Cooperation companies are on the extension of hehuo(合夥)system, so that it can be said they were organized and operated by human network though they were organizations which had permanent incorporation.