“对赌协议”的裁判路径及政策选择——基于PE/VC与公司对赌场景的分析

PE/VC与目标公司对赌的司法裁判要点从合同效力转入合同可履行性后,需要面对两个层次的追问:一是以什么样的实体标准来判断履行障碍,二是由谁来判断是否存在履行障碍。华工案和“九民纪要”仅处理了第一个层次的问题,且主要以资本维持原则作为实体判断标准。然而,我国现行公司法资本维持原则过于粗疏,且缺乏“大分配”概念和底线规制的思路,导致“对赌协议”下的回购只能通过减资的途径,徒增成本。域外以清偿能力标准替代资本维持原则,体现了另一种以债权人利益为导向限制公司资产单向流出至股东的规制思路,但其商业逻辑上的合理性却无法掩盖更大的操作成本。就第二层次的判断主体而言,以美国特拉华州为代表,法官的商业判断逐渐让位于公司董事会的商业判断,却进一步凸显了公司、不同类别股东、债权人之间利益冲突的复杂状态。立法层面的价值判断与政策选择将最终决定司法裁判的走向,未来我国公司法的修订需要回应商业实践的诉求,同时PE/VC投资者也需要直面投资失败的风险承担。     

“一带一路”倡议与中国企业承担人权责任策略探析

在经济全球化浪潮面临挑战和"一带一路"倡议方兴未艾的复杂国际背景下,中国企业面临发展机遇与人权相关风险的双重挑战。国际工商业与人权议程尤其是联合国《工商企业与人权:实施联合国"保护、尊重和补救"框架指导原则》蕴含着丰富的企业人权责任。我国可从政府与企业两个层面采取应对措施。在政府层面,可以制定并执行相关法律与政策;制定工作指引,建立监管体系;制定工商业与人权行动计划。在企业层面,应当把尊重人权原则纳入公司治理;主动发布人权履责报告,加强对话与合作。     

Preferred learning style： Gender influence on preferred learning style among business students

Past studies indicate that there was a correlation between gender and students＇ preferred styles of learning. Thus, the purpose of this study is to determine the influence of gender on the learning style preferences of business students based on the VARK （Fleming, 2002b） learning style survey, consisting of the V（isual）, A（ural）, R（ead-Write） and K（inesthefic） learning styles. The sampling design used for this study was non-probability sampling and the sampling technique conducted was convenient sampling on 207 male students and 199 female students from the business school. The study found that gender only influences the V（isual） and A（ural） learning styles of business students. In addition to that, even though both male and female students exhibited a similar response towards both these learning styles, female students were found to demonstrate slightly higher preference for the V（isual） and A（ural） learning styles as compared to the male students. The findings draw attention to facets of learning that may exist in pre-university and tertiary classrooms with a combination of female and male students, which could have an impact on teaching and managing these students.     

Buyer and Seller Differences in Business‐to‐Business Negotiations

The purpose of this article is twofold: first, to examine the differences between buyers' and sellers' use of negotiation tactics in face‐to‐face business‐to‐business (B2B) negotiations and second, to explore how negotiators' professed negotiation styles influence buyers' and sellers' use of tactics. The methodology is a multiple case study analysis of eighteen negotiators representing twelve companies in six real‐life buyer–seller negotiations in B2B settings analyzed using qualitative research methods, including both comparative analysis and frequency analysis. We found some difference between buyers' and sellers' use of negotiation tactics, which suggests this question deserves further empirical study. Buyers' and sellers' use of specific tactics differs according to which overall strategy the negotiators chose, and sellers generally use a greater number of negotiation tactics than buyers. The findings challenge previous findings that suggest that B2B negotiations are collaborative and that negotiators communicate in a collaborative manner. The findings also increase our understanding of buyers' and sellers' variable use of tactics in the course of everyday practice as well as the interplay between negotiation tactics and strategies.     

试论经营者的强制性信息披露义务

消费者知情权对应的主要是经营者的强制性信息披露义务,我国现行《消法》克服市场交易信息不对称的主要方式在于确立经营者的自愿说明义务。解决问题的关键在于法律上直接赋予经营者的强制性信息披露义务,对《消法》的模糊性规定予以修正,明文规定经营者四种情形下的强制性信息披露义务。     

我国家族企业内部纠纷的起因与规范——以家族企业内部的产权关系为视角

随着家族企业对社会经济发展作用的日益增强,我国家族企业内部纠纷已经不再是婚姻、家庭内部的事情,它关涉企业的发展与壮大甚至存活.本文认为,家庭财产与企业资产的混同,家庭生活与企业生产的重叠,个人投资与家庭投入的模糊,体力付出与脑力贡献的混淆等是家族企业内部纠纷产生的根源.因此,资产归属的事先明确是避免家族企业内部纠纷的关键.     

商事登记二元化审查标准的困境与出路

我国商事登记的审查标准经历了从实质审查标准到二元化标准的变迁,但是,由于传统注重安全的监管理念、规范内容的缺失以及环境机制的不健全,造成二元化标准在实践中存在适用范围混乱、效率低下等困境。因此,对之完善和建构的出路是,坚持注重效率,兼顾安全的审查理念,明确形式标准和实质标准的适用关系,并对实质审查的适用条件和方法予以规范。     

商业贿赂犯罪态势及其惩防体系构建——以江苏为例

当前,商业贿赂作为具有动态意义的新型经济犯罪活动,其触角逐步伸入社会许多行业和领域,并呈现一系列新的特点和发展趋势。从江苏地区近几年查处的情况来看,此类犯罪案件具有重点领域高发、大案要案增多;犯罪主体多变、作案手法隐秘;群体犯罪加剧、期货性质凸显;职务犯罪突出、窝案串案交织等动态特点。同时表现出发案领域拓展、行业特征明显;组织程度提高、侵害对象模糊;关联犯罪增多、社会危害更烈等发展趋势。根据当前商贿犯罪的动态特点及发展趋势,应建构教育、制度、监督并重的防治商贿犯罪长效机制,从源头上防治商腐现象的滋生蔓延。     

论《反垄断法》对经营者集中豁免之法律规制--以南车、北车合并为例

经营者集中是我国《反垄断法》规制的重要对象。当下，相关反垄断法规对经营者集中豁免的规制也已基本完备，然而，在面对规制“两车”之类的集中上，这些规范依然存有系列不足，需要加以完善。