Keywords: equity investment capital
Abstract: There are three traditional corporate capital systems: statutory capital system, authorized capital system and eclectic capital system, which clarify the foundation of corporate capital system and establish the traditional capital principle, namely, capital determination principle, capital identity principle and capital preservation principle. With the country's in-depth exploration of the characteristics of corporate capital system and legislative reform, practice has proved that credit is gradually eliminating capital, and the credit of assets is an extension, which has laid a realistic foundation for the form of investment.
Equity is an independent comprehensive right, and there will be some differences when transferring different types of equity. Before equity capital is invested, it is necessary to carefully determine the suitability of investment choice. Whether options can be used as the form of investment needs to be studied. The author mainly refers to the "four elements theory" of Japanese jurist Shimamura in his book "Research on Current Real Investment" about the eligibility of current property investment, that is, the four elements of uncertainty, the value of existing property and the possibility of independent evaluation and transfer may prove the eligibility of equity capital.
There are great differences between the two legal system countries in terms of equity contribution. The common law countries, represented by the United States, have relatively loose ways of capital contribution, and can adopt such ways as creditor's rights, equity, labor and credit. However, the civil law countries, mainly Germany and Japan, regulate investment in a conservative way, and do not allow labor, credit and other financing methods. They have formulated strict procedures for the way of equity investment. The author introduces the legal regulation of share capital in several countries.
On the basis of explaining the legitimacy of equity capital, further study the potential benefits and disadvantages of equity capital in the company and economic environment, measure the advantages and disadvantages of equity capital in actual operation, or predict and prevent any legal risks in the future.
The legal problems faced by equity investment are generally divided into two categories: there are defects before equity investment, that is, equity investment caused by legal problems caused by equity investment defects; Second, in the process of equity investment evaluation, the performance procedure violated the law, causing legal problems of equity investment.
There are many problems in the theoretical discussion of equity investment. The uncertainty of its own value and the nonstandard operation will bring certain legal risks to the interests of joint-stock companies, invested companies, their creditors and minority shareholders in other companies. The author puts forward legal suggestions on equity investment from five aspects, namely, strict restrictions on investment conditions, control of evaluation and verification process, information disclosure of equity investment, restrictions on equity investment, restrictions on equity investment and responsibility filling of equity reinvestment.