미국의 배당규제와 자기주식 제도

• 영문명: Corporate Dividend and Stock Repurchase in the United States
• 발행기관: 한국사법학회(구 한국비교사법학회)
• 저자명: 金淳錫(Soon-Suk Kim)
• 간행물 정보: 『비교사법』比較私法 제13권 제2호, 251~283쪽, 전체 33쪽
• 주제분류: 법학 > 법학
• 파일형태: PDF
• 발행일자: 2006.06.01

영문 초록

  The main purpose of this article is to review the current regulation of corporate dividend and stock repurchase in the United States. The corporate dividend system of the United States can be classified into six major categories, which are earned surplus test, balance sheet surplus test, nimble profit test, balance sheet test, restrictive ratio test, and equitable insolvency test.
  The stock repurchase system of the United States can also be classified in accordance with the above-mentioned corporate dividend systems. The first category(traditional model) maintains surplus, legal capital and par value share and the second one(modern model) eliminates them. The Delaware General Corporation Act, the New York Business Corporation Law and the Model Business Corporation Act belong to the traditional model which holds the concept of treasury shares. On the other hand, the California Corporation Code and the Revised Model Business Corporation Act belong to modern model which deals with the corporate dividend and stock repurchase equally under the terms of distribution.
  This article suggests to introduce more liberal approach of United States’ stock repurchase system into Korea. It recommends to integrate the regulating system of stock repurchase through the Korean Commercial Law. It also offers to abolish the restraint on stock repurchase according to the purchase purposes. This article also suggests to expand the financial resources to stock repurchase from the profit available for dividend to earned surplus or surplus. Finally, it emphasizes the introduction of fair procedures for stock repurchase and the sale of treasury stocks.

목차

Ⅰ. 서설
Ⅱ. 자기주식 취득제도의 법적 의의
Ⅲ. 미국의 자기주식 취득제도
Ⅳ. 미국 자기주식 제도의 시사점
Ⅴ. 결어
[참고문헌]
【ABSTRACT】

키워드

자기주식 자기주식의 취득 배당규제 미국의 자기주식제도 미국의 배당제도 법정자본제도 자사주 treasury stock stock repurchase distribution regulation stock repurchase in the U.S.A. US distribution system stated capital system share repurchase