信托的功能--资本运营视角下的探析

资本运营是现代社会创造财富的重要手段 ,通过法律制度的设计促进资本运营就成为现代商事法制重要目标之一。在公司制和代理制下的资本运营都存在交易成本比较高的弊端。相对于代理制而言 ,信托制度提高了资本运营的效率 ;相对于公司制而言 ,信托促进了资本运营的灵活性和创造性。因此 ,在资本运营的视角下 ,信托的经济功能就在于降低了交易成本和提高了商业效率。信托的功能在企业资本运营的过程中得到了充分体现 ,并表现为多种灵活的形式。

The Function of Trust:an Inquiry in the View of Capital Operation

Capital operation is one of the main measures to make fortune, thus to promote the operation of capital goods through the designation of legal norms becomes an important aim of modern commercial law. Capital operation under company system and agency system shows the demerits of high cost. The trust system, compared to agency system, raises the efficiency of capital operation; and makes the operation of capitals more flexible and creative by contrast with company system. Therefore, under the view of capital operation, the economic function of trust is to lower the transaction cost and higher the business efficiency. Such functions are exhibited sufficiently during the process of capital operation and many forms of manifestation exist in practice.