Theory of stock claims - Kabushiki Saikenron

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[Employee Rights]
Regarding how to interpret the essence of shares, the prevailing view is that shares are the same as the status of a member in a general association, and are a single right (member rights, shareholder rights) with many powers (member rights theory), but because the status of a member also includes obligations, the terms member rights and shareholder rights are often avoided and the terms member status and shareholder status are often used. However, there are also theories that deny the concept of member rights, stating that self-benefit rights and common benefit rights are different in nature and that common benefit rights are not rights that members have in their capacity as members, and that shares are interpreted as the sum of self-benefit rights (member rights denial theory) or as rights to claim dividends (share claims theory). Furthermore, there is also a theory that regards corporations as profit-making foundations and interprets shares as monetary claims (corporation foundation theory).

*Some of the terminology related to the "stock claim theory" is listed below.

Source | Heibonsha World Encyclopedia 2nd Edition | Information

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【社員権】
　株式の本質をいかに解するかについて，通説は，株式をもって一般の社団における社員の地位と同一のものであって，多くの権能を有する単一の権利(社員権，株主権)と解している(社員権論)が，社員の地位は義務をも包含するから，社員権，株主権という用語をさけて，社員の地位，株主の地位ということが多い。しかし，自益権と共益権とは性質が異なり，共益権は社員が社員たる資格において有する権利ではないとして，社員権という概念を否定し，株式をもって自益権の総体と解し(社員権否認論)，または利益配当請求権と解する説(株式債権論)もある。さらに，株式会社を営利財団法人とみて，株式を金銭債権と解する説(株式会社財団論)もある。…

※「株式債権論」について言及している用語解説の一部を掲載しています。

出典｜株式会社平凡社世界大百科事典 第２版について | 情報