Is there fourth type of capital system: rethinking the classification of corporate capital systems

In 2013, China modified its Company Law, and the modification created a new capital system, which is not exactly the same as legal capital system in the Germany or the authorized capital in the Anglo-American countries. Scholars in China debates with each other on the classification of the new capital among the three capital systems, in the traditional category, which are legal, authorized and compromise capital system. Some argue that the Chinese new capital is still legal capital, and some claim it’s compromise capital. However, that endeavor is useless and they take a wrong logic approach. They always change the traditional definition of each capital system in order to make the new capital of China being fit for one they argued. The new capital of China Company Law is a new one, and it does not belong to any type of existed capital system all over the world. Because the category of capital system is inductive consequence, which is just a description of the typical modern developed countries legislation and is not a deductive one based on a closed logical loop. So there is no logical reason we must classify the Chinese new capital into one of them. And more important academic dilemma is that such controversy has no theoretical and practical meanings. The category of the capital system is on the end branch of corporate theory, and no theory or institution bases on it. It is only a theoretical analyzing conclusion, without any reasoning or inference following. Furthermore, this controversy has no contribution on legal practice. The running, registering of company, even judging of the company dispute did, does, will never consider the category of capital system offered by the Company Law. Recognition of the legislation innovation is pragmatic and struggling on the theoretical problem is helpless.

китайское корпоративное право, новая система капитала, споры, юридический капитал, уставный капитал, компромиссный капитал, формальная логика, индукция, дедукция, теоретическая функция категории, Chinese Company Law, New Capital System, Controversy, Legal Capital, Authorized Capital, Compromise Capital, Formal Logic, Induction, Deduction, Theoretical Function of Category

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