【摘要】： 在證券高度發(fā)達(dá)的國家,證券市場是經(jīng)濟(jì)的晴雨表。證券市場的穩(wěn)定直接關(guān)系到國民經(jīng)濟(jì)的健康發(fā)展。證券市場價(jià)格變化正常與否,是證券市場健康與否的標(biāo)志。若證券價(jià)格在一定幅度內(nèi)變化,則屬于正常情況,對(duì)證券的市場能力沒有影響或影響不大,若證券價(jià)格大起大落,就會(huì)影響證券的市場能力,阻礙證券買賣的正常進(jìn)行。因此,無論采用哪種監(jiān)管形式的國家,都要求保證證券市場,特別是股票市場的相對(duì)穩(wěn)定。 歷史發(fā)展往往經(jīng)濟(jì)現(xiàn)象出現(xiàn)在先,而法律規(guī)制在后。從歷史上看,股票市場的發(fā)展經(jīng)歷了私法自治到國家監(jiān)管的歷程。無論是股票最早出現(xiàn)的國家——英國,還是我國股票市場的發(fā)展歷程,都是如此,這不能說僅僅是一種巧合。西方經(jīng)濟(jì)發(fā)展歷史表明,經(jīng)濟(jì)政策和思想,往往經(jīng)歷一個(gè)自由和管制相互交替,此消彼長的過程。股票平準(zhǔn)基金正是基于證券的發(fā)展歷史和現(xiàn)實(shí)需要而產(chǎn)生,在新興市場中運(yùn)用較多。股票平準(zhǔn)基金的建立,無疑對(duì)穩(wěn)定市場,保護(hù)投資者利益,保護(hù)整個(gè)經(jīng)濟(jì)體系健全,發(fā)揮股票市場融資、定價(jià)、資本配置功能起著重要的作用。我國股票市場建立之初,曾有專家建議成立股票平準(zhǔn)基金,但因?yàn)楦鞣N原因而未采用。但現(xiàn)實(shí)中便有采用平準(zhǔn)基金的情況。社�；鸷屯鈪R儲(chǔ)備基金也發(fā)揮了準(zhǔn)平準(zhǔn)基金的作用。本文正是立足于我國股票市場,以經(jīng)濟(jì)法的視角,從股票平準(zhǔn)基金立法思路,分三章進(jìn)行探討:第一章,對(duì)政府穩(wěn)定股票市場的必要性進(jìn)行分析,對(duì)現(xiàn)行股票穩(wěn)定機(jī)制進(jìn)行檢討,股票平準(zhǔn)基金與股票其他穩(wěn)定機(jī)制的比較和聯(lián)系,肯定股票平準(zhǔn)基金作為穩(wěn)定市場重要機(jī)制的作用,為股票平準(zhǔn)基金立法提供經(jīng)濟(jì)、法理等方面的依據(jù);第二章,重點(diǎn)討論股票平準(zhǔn)基金的自身問題,包括資金來源、運(yùn)用主體、市場準(zhǔn)入、退出機(jī)制,從具體制度和框架設(shè)計(jì)上進(jìn)行探討,為其法律規(guī)制和立法方面的研究提供基礎(chǔ);第三章,先是討論股票平準(zhǔn)基金的法律屬性,即股票平準(zhǔn)基金立法是民商法還是經(jīng)濟(jì)法范疇,股票平準(zhǔn)基金立法與《證券法》、《投資基金法》等法律相互關(guān)系,其次討論股票平準(zhǔn)基金具體運(yùn)行中的法律問題,包括信息披露,防范利益輸送,法律責(zé)任,并對(duì)平準(zhǔn)基金立法層次進(jìn)行簡單的闡述。
[Abstract]:In countries with highly developed securities, the securities market is a barometer of the economy. The stability of the securities market is directly related to the healthy development of the national economy. Whether the stock market price changes normally or not, is the mark of the securities market health or not. If the price of securities changes within a certain range, it is a normal situation and has no influence on the market ability of securities. If the price of securities fluctuates greatly, it will affect the market ability of securities and hinder the normal conduct of securities trading. Therefore, countries that adopt any form of regulation require the relative stability of the stock market, especially the stock market. The historical development often appears in the economic phenomenon first, but the legal regulation is later. From the historical point of view, the development of the stock market has experienced the process of private law autonomy to state supervision. It is not only a coincidence that the stock market is developed in Britain, but also in the stock market of our country. The history of western economic development shows that economic policies and ideas often undergo a process of alternation between freedom and regulation. Equity Equalization Fund is based on the historical and practical needs of securities development, and is widely used in emerging markets. The establishment of stock stabilization fund undoubtedly plays an important role in stabilizing the market, protecting the interests of investors, protecting the integrity of the whole economic system, giving play to the function of stock market financing, pricing and capital allocation. At the beginning of the establishment of stock market in our country, some experts suggested the establishment of stock equalization fund, but it was not adopted for various reasons. But in reality there is the use of a stabilization fund. Social security funds and foreign exchange reserve funds also play a role in the equalization fund. This article is based on our country's stock market, from the angle of economic law, from the stock equalization fund legislation thought, divides into three chapters to carry on the discussion: the first chapter, carries on the analysis to the government to stabilize the stock market necessity, To review the existing stock stabilization mechanism, compare and link the stock stabilization fund with other stock stabilization mechanisms, affirm the role of the stock stabilization fund as an important mechanism for stabilizing the market, and provide the economy for the stock stabilization fund legislation. The second chapter focuses on the problems of equity equalization fund, including the source of funds, the main body of application, market access, exit mechanism, from the specific system and framework design, The third chapter discusses the legal attribute of stock equalization fund, that is, whether the legislation of stock equalization fund is civil and commercial law or economic law. The relationship between the legislation of the stock stabilization fund and the securities law and the law of the investment fund is discussed. Secondly, the legal problems in the operation of the fund are discussed, including the disclosure of information, the prevention of the transmission of benefits, the legal responsibility, etc. At the same time, the level of legislation of the Fund for Stabilization is briefly elaborated.
【學(xué)位授予單位】：暨南大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2009
【分類號(hào)】：F832.51

【參考文獻(xiàn)】

相關(guān)期刊論文 前10條

1 何山;;淺析中國推出股市平準(zhǔn)基金的必要性與可行性[J];北方經(jīng)濟(jì);2009年04期

2 郭哲;石柏林;;論中國政府干預(yù)股票市場的法律體系構(gòu)建[J];財(cái)經(jīng)理論與實(shí)踐;2007年06期

3 袁曉兵;我國應(yīng)盡快設(shè)立證券市場平準(zhǔn)基金[J];河南財(cái)政稅務(wù)高等專科學(xué)校學(xué)報(bào);2005年02期

4 宋賢卓;;設(shè)立平準(zhǔn)基金 穩(wěn)定中國股市[J];當(dāng)代經(jīng)濟(jì)(下半月);2008年08期

5 姜碩;楊敏;;試論機(jī)構(gòu)投資者行為對(duì)中國股市穩(wěn)定性的影響[J];經(jīng)濟(jì)研究導(dǎo)刊;2009年01期

6 孫天琦;陳軍;楊嵐;;香港《外匯基金條例》及基金運(yùn)作對(duì)我國的啟示[J];華北金融;2006年06期

7 李浩然;;論我國股市引入平準(zhǔn)基金的必要性及可行性[J];華北金融;2006年06期

8 劉鳳元;;股市穩(wěn)定基金:經(jīng)驗(yàn)與建議[J];經(jīng)營與管理;2008年02期

9 董志勇;康占平;;行為金融學(xué)與有效市場假說的爭論[J];寧夏社會(huì)科學(xué);2006年04期

10 尹輝;梅世強(qiáng);;對(duì)平準(zhǔn)基金操作效果的再思考——臺(tái)灣國安基金操作績效研究[J];內(nèi)蒙古農(nóng)業(yè)大學(xué)學(xué)報(bào)(社會(huì)科學(xué)版);2006年03期

相關(guān)碩士學(xué)位論文 前1條

1 鄒洋;證券市場突發(fā)事件應(yīng)急管理機(jī)理及應(yīng)對(duì)措施研究[D];中國海洋大學(xué);2007年

，

本文編號(hào)：2279270