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法律是人类社会运行的制度性安排,是社会秩序的制定者。同时,法律也是人的行为的科学,它的力量和生命源于人。而人的生活又外在地表现为人的思想和行为,要真正把握法律变化发展的内在力量.必须深入探讨人的思想与行为的运动规律。本文运用行为科学理论和博弈论观点,对公司董事和公司股东在收购和反收购中的利益冲突现象进行分析和解构。一、股东与董事利益冲突与‘代理人’理论在1930年,Berle和Means发表了一篇主要探讨公司中董事和股东利益关系的论文‘在大公司中决策管理和分散股票所有者的相互独立减少了公司对股东利益的管理’,提出应加强对公司内部事务的管理,特别是强化公司董事和股东利益冲突协调机制的法律调控。该文一经发表即引起学界的广泛关注,也招来了许多法学家和经济学家的猛烈抨击。在这
Law is the institutional arrangement for the operation of human society and the maker of social order. At the same time, the law is also the science of human behavior, its power and life stem from people. However, human life is externally manifested as human thoughts and behaviors, and the inner forces for the development of legal changes must be truly mastered. The laws of movement of human thoughts and behaviors must be thoroughly explored. This article uses behavioral science theory and game theory point of view to analyze and deconstruct the conflicts of interest between directors and shareholders of the company during the acquisition and anti-takeover. I. Conflicts of Interests and ’Attorneys’ Between Shareholders and Directors In 1930, Berle and Means published a paper that explores the relationship between the interests of directors and shareholders in the company.’ The decision to manage and diversify the ownership of shares among large companies is mutually independent Reduce the company’s management of the interests of shareholders’, proposed to strengthen the management of the internal affairs of the company, in particular, to strengthen the legal directors and shareholders conflict of interest coordination mechanism of the legal regulation. Once published, the article has aroused widespread concern in the academic circle, and attracted many jurists and economists. At this