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对债权人而言,保证可以带来显著的收益。但在实践中,保证的应用面临着两项市场机制无法有效控制的成本:一是保证可能被过度应用与被弃之不用而产生的经济成本;二是保证被企业法人及其所有者用来损害企业债权人利益而形成的成本。这两项成本的产生均源于信息不对称,即债权人无法充分了解保证人对外提供保证的情况。为有效控制这两项成本,应设立保证登记制度。登记的、有优先效力的保证,在效果上相当于“全面的浮动担保”。设立保证登记制度不但与现行法律制度不冲突,而且还可以弥补《中华人民共和国物权法》对浮动担保制度规定的不足。
For creditors, guarantees can bring significant benefits. However, in practice, the application of guarantee faces the cost that two market mechanisms can not effectively control. First, it guarantees the economic cost that may be over-utilized and abandoned. Second, the guarantee is used by corporate entities and their owners Damage the interests of corporate creditors and the formation of the cost. Both of these costs are due to information asymmetry, in which creditors can not fully understand the guarantor’s assurances provided to the outside world. In order to effectively control these two costs, a guarantee registration system should be established. Registered, preemptive warranties are, in effect, equivalent to “full floating warranties.” The establishment of a guarantee registration system not only does not conflict with the current legal system, but also makes up for the inadequacies of the provisions of the Floating Guarantee System under the Property Law of the People’s Republic of China.