Research On The System Of Investment In Kind

Investment in kind, as an important form of corporate investment, has been enjoying more and more popularity. It is associated with the monetary capital, intellectual property and other forms of independent forms of shareholders. The system of investment in kind, on the one hand, can make social natural resources as much as possible to be utilized to achieve the best configuration; on the other hand, it also saves transaction cost, and promotes and encourages investment. At the same time, it is also related to the shareholders' rights and interests distribution, which influences a lot on the interest of the company and the creditors. With the development of market economy in China, investment in kind is applied more and more widely, whose importance in the company's capital system also becomes increasingly apparent.The system of investment in kind has been based on the theory of law and economics, company credit theory and company autonomy theory. It plays the goal of value about efficiency, safety and freedom. Investment in kind also includes the function of economic, social and other aspects. According to the procedural requirements of the shareholder's investment in kind, except for subscriber of the specific occasions, only the initial shareholders or promoters with the spare real contributive have the subjectivity qualification to investment in kind. The contribution of the subject matter should meet four elements, including specificality, realistic existence, evaluating the possibility and independence. The ratio of investment in kind for capital contribution can not be less than currency in order not to violate the principle of minimum limit of proportionality. On the shareholder procedural requirements in terms of investment in kind, it shall respect the shareholders' will, by the promoters agreement or the articles of association of the company agreed. The information of investment in kind must accept the public's supervision, and prevent the shareholders from fraud. The system of investment in kind should establish and improve the real price assessment mechanism, clear physical price determining method and program, so as to ensure the investment real price determined by the objective and fair. The time of payment for investment in kind is not in violation of law enforcement under the premise of respect between the shareholders agreement. It will pay their way to take form principle. Investment in kind is different from other forms of financing risk, according to whether the goods delivered and whether the company was established, it is divided into three types to determine risk takers. In addition, goods flaw is also the common problem in the process, including the capital itself and the investment behavior. Shareholders of investment in kind need to assume the responsibility of security flaws.At present, there exists many deficiencies in the system of investment in kind around the whole nation, such as the main body system, public system, evaluation and supervision system, risk and responsibility system. To improve the current system, we need to not only think a lot on institutional framework of overall conception, but also on the range of shareholders, assessment and supervision system, the way and time limit to performance, risk and responsibility system, hidden investment in kind and other specific systems.