近年來，由於董事會權限之擴大、公司治理及股東行動主義等理念之提倡，股東權之強化及保障已成為先進國家公司法制之潮流，公司法遂導入若干新種股東權。股東身為公司之出資者，基於獲利之期待而將資金投入公司，公司獲取股東挹注資金後始得開展其業務。股東作為公司於資本市場主要籌資之對象，倘若股東之權利保護制度不備，或者執行不周，將使投資人信心嚴重受挫，進而有礙於國家經濟發展。因此，如何完善股東權之概念及內涵，使股東權利獲得實質保障至關重要。本文從公司理論模型出發，分類並演繹現有股東權本質之理論，並提出以本位區分觀察股東權，以強調規範設計上之利益平衡。最後，本文將闡述股東權利保障所必要之內涵及調整原則，希冀對於股東權利之實質保障建構完整之藍圖，以作為未來深化公司法理論研究之基礎。
Recently, as a result of the expansion of board's power, promotion of corporate governance and shareholder activism, enhancing and protecting shareholder's rights has become a trend of legislative evolution in developed countries, corporate law incorporates lots of additional shareholder's rights. As a shareholder of the company, the shareholder is investing in the company based on the expectation of profit, and the company has been able to carry out its business after it has raised the funds from the shareholders. As the main object of corporate financing, if the shareholder's rights protection system is not prepared or poorly implemented, then the investors will lose their trust, and thus hinder the national economic development. Therefore, how to improve the concept and connotation of shareholder rights, so that the shareholders can obtain real protection of rights is essential. This paper starts from the model of corporate theories, classifies and deduces the theoretical nature of shareholders rights. Additionally, it will analyze the shareholder's rights on the standard theory, and emphasize the balance of interests in the legal design. Finally, it also expounds the necessary content and adjustment principles for the protection of the shareholder's rights. The main purpose of this paper is to build a complete blueprint of substantive protection for the rights of shareholders, and to be the cornerstone for deepening the study of corporate law theory in the future.
