暨南学报(哲学社会科学版)

作者：于若兰

关键词：国家出资公司,公司集团,控制权,决策控制,法人人格

集团内公司间的控制权是国家出资公司集团发挥组织功能的关键,但现行法律未对此提供积极性调整规则。制度上,国家出资公司集团遵循着强调单体公司意志独立的私法规范,实践中“人财物产供销”统一控制却常超越了单体公司独立法人界限,并涉入公法属性的行政权,部分国家出资公司集团为实现公共利益,也必须对从属公司进行统一控制。对于制度与实践的背离,集团控制权需从契约关系转为法定权力,并以“实体透明”原则构建义务与责任规则,以分类分层方式鉴别公司公法属性的作用场域。具体规则上,“决策控制”为集团控制权客体,控制公司股东会对商业类重要从属公司的重大决策可通过“表决权穿越”来参与;控制公司董事会、经理层对商业类从属公司决策事项,及控制公司对公益类从属公司决策事项,可采用指令式的统一控制权。同时以“财产独立”作为维护从属公司法人人格的核心,使控制公司承担补偿义务及替代责任。"/>template{display:none;}.mag-rich-xref-fn { cursor: pointer;}//长视频$(document).ready(function(){if($("#showLongArticleVideo") && $("#showLongArticleVideo").length && $("#showLongArticleVideo").length>0){mag_ajax_update({ele_id:'showLongArticleVideo',url:mag_currentQikanUrl() + "/CN/article/showLongArticleVideo.do?id="+$("#articleId").val()});}});$(document).ready(function(){window.metaData = {"journal":{"issn":"1000-5072","qiKanMingCheng_CN":"暨南学报（哲学社会科学版）","id":2,"qiKanMingCheng_EN":"Jinan Journal"},"article":{"keywordList_cn":["国家出资公司","公司集团","控制权","决策控制","法人人格"],"juan":"47","zhaiyao_cn":"集团内公司间的控制权是国家出资公司集团发挥组织功能的关键,但现行法律未对此提供积极性调整规则。制度上,国家出资公司集团遵循着强调单体公司意志独立的私法规范,实践中“人财物产供销”统一控制却常超越了单体公司独立法人界限,并涉入公法属性的行政权,部分国家出资公司集团为实现公共利益,也必须对从属公司进行统一控制。对于制度与实践的背离,集团控制权需从契约关系转为法定权力,并以“实体透明”原则构建义务与责任规则,以分类分层方式鉴别公司公法属性的作用场域。具体规则上,“决策控制”为集团控制权客体,控制公司股东会对商业类重要从属公司的重大决策可通过“表决权穿越”来参与;控制公司董事会、经理层对商业类从属公司决策事项,及控制公司对公益类从属公司决策事项,可采用指令式的统一控制权。同时以“财产独立”作为维护从属公司法人人格的核心,使控制公司承担补偿义务及替代责任。","endNoteUrl_en":"https://jnxb.jnu.edu.cn/skb/EN/article/getTxtFile.do?fileType=EndNote&id=7232","reference":"","bibtexUrl_cn":"https://jnxb.jnu.edu.cn/skb/CN/article/getTxtFile.do?fileType=BibTeX&id=7232","abstractUrl_en":"https://jnxb.jnu.edu.cn/skb/EN/10.11778/j.jnxb.20241547","qi":"5","id":7232,"nian":2025,"bianHao":"1752550980006-64262612","zuoZheEn_L":"YU Ruolan","juanUrl_en":"https://jnxb.jnu.edu.cn/skb/EN/Y2025","shouCiFaBuRiQi":"2025-07-15","qiShiYe":"121","qiUrl_cn":"https://jnxb.jnu.edu.cn/skb/CN/Y2025/V47/I5","lanMu_cn":"民商法","pdfSize":"1580","zuoZhe_CN":"于若兰","risUrl_cn":"https://jnxb.jnu.edu.cn/skb/CN/article/getTxtFile.do?fileType=Ris&id=7232","title_cn":"国家出资公司集团控制权的规制逻辑与制度表达","doi":"10.11778/j.jnxb.20241547","jieShuYe":"139","keywordList_en":["state-funded company","corporate group","control rights","decision-making control","corporate personhood"],"endNoteUrl_cn":"https://jnxb.jnu.edu.cn/skb/CN/article/getTxtFile.do?fileType=EndNote&id=7232","zhaiyao_en":"State-funded companies are an important driver for the high-quality development of the socialist market economy. Currently, nearly all state-funded companies operate as members of a corporate group, and their business decisions are inevitably influenced by the group's unified control. However, legal frameworks lack specific provisions addressing state-funded corporate groups or corporate groups in general. While many scholars have argued for the recognition of corporate group structures, few have approached the issue from the perspective of state-funded enterprises.This paper examines the contrast between institutional norms and practical realities within state-funded corporate groups. Institutionally, these groups, as private law entities, are subject to company law principles based on the independent legal personality of individual firms. In practice, however, the role of state investors embeds public authority within these companies, often breaching the private law boundaries in both institutional logic and execution. Furthermore, “control rights”-a key rationale for the existence of corporate groups-are inherently present among member companies. When such control manifests in top-down directives covering “people, property, goods, production, supply, and marketing”, it threatens the autonomy and legal independence of group subsidiaries.To address these tensions, this paper proposes transitioning group control rights from contractual arrangements to statutory authority, affirming the legitimacy of non-shareholding-based control within corporate groups. In line with the unique characteristics of state-funded companies, the study combines the principle of “entity transparency” with a tiered classification approach to define the scope of public law attributes. This paper further develops concrete rules for the construction of group-level control rights: “decision-making control” is identified as the core subject. For commercial subsidiaries, the controlling company's shareholders' meetings may participate in major decisions via “voting rights traversal”. For decisions handled by boards and management teams of commercial subsidiaries, as well as decisions in public welfare subsidiaries, directive-based unified control mechanisms may be employed. Additionally, “independence of property” is identified as a fundamental safeguard of the legal personality of subsidiaries. Accordingly, controlling companies should bear responsibilities for compensation and substitution when such unified control affects subsidiary autonomy.Centered on the governance of control rights within state-funded corporate groups, the institutional framework constructed in this paper provides a legal path to incorporate politically regulated reforms, such as categorized reform and the state capital authorization and management reform, into normative legal structures. This contributes to strengthening the organizational capacity, functional focus, and core competitiveness of various types of state-funded corporate groups.","bibtexUrl_en":"https://jnxb.jnu.edu.cn/skb/EN/article/getTxtFile.do?fileType=BibTeX&id=7232","abstractUrl_cn":"https://jnxb.jnu.edu.cn/skb/CN/10.11778/j.jnxb.20241547","zuoZheCn_L":"于若兰","juanUrl_cn":"https://jnxb.jnu.edu.cn/skb/CN/Y2025","lanMu_en":"","qiUrl_en":"https://jnxb.jnu.edu.cn/skb/EN/Y2025/V47/I5","zuoZhe_EN":"YU Ruolan","risUrl_en":"https://jnxb.jnu.edu.cn/skb/EN/article/getTxtFile.do?fileType=Ris&id=7232","title_en":"The Regulatory Logic and Institutional Rules of Control Rights in State-funded Corporate Groups","hasPdf":"true"}};if(window.metaData && (!window.metaData.authorNotesCommon_cn && !window.metaData.authorNotesCorresp_cn && window.metaData.authorNotes_cn)){window.metaData.authorNotesCommon_cn = window.metaData.authorNotes_cn;}if(window.metaData && (!window.metaData.authorNotesCommon_en && !window.metaData.authorNotesCorresp_en && window.metaData.authorNotes_en)){window.metaData.authorNotesCommon_en = window.metaData.authorNotes_en;}var _nlmdtdXml = $("#article_nlmdtdXml").val();var magDir = _nlmdtdXml.replace(/\/[^\/]+$/,'');window.metaData.magDir = magDir;new mag_vue({ el: '#metaVue', //dataUrl: mag_currentQikanUrl() + '/EN/article/getRichHtmlJson.do?articleId='+$("#articleId").val(), data:window.metaData, loading:true, doTextFun:function(text){ return doDataJsonText(text); 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