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  本文關(guān)鍵詞：我國(guó)創(chuàng)業(yè)板發(fā)行監(jiān)管有效性研究　出處：《山東財(cái)經(jīng)大學(xué)》2012年碩士論文　論文類型：學(xué)位論文

  更多相關(guān)文章： 創(chuàng)業(yè)板 發(fā)行監(jiān)管 有效性

【摘要】：2009年10月30日，我國(guó)正式推出創(chuàng)業(yè)板市場(chǎng)，為高科技高成長(zhǎng)性企業(yè)提供資源優(yōu)化配置的場(chǎng)所，但創(chuàng)業(yè)板成功推出后卻出現(xiàn)了很多不規(guī)范的地方，這些問題不僅影響到股票流通市場(chǎng)運(yùn)行，更導(dǎo)致了整個(gè)股票市場(chǎng)的非有效性，阻礙了證券市場(chǎng)的健康、持續(xù)發(fā)展。而發(fā)行監(jiān)管作為創(chuàng)業(yè)板市場(chǎng)健康發(fā)展的第一道防火墻，其有效性的高低將直接影響到股票交易市場(chǎng)的發(fā)展和穩(wěn)定，影響到整個(gè)證券市場(chǎng)的資源配置效率。因此，，如何提升創(chuàng)業(yè)板發(fā)行市場(chǎng)的監(jiān)管有效性進(jìn)而促進(jìn)創(chuàng)業(yè)板市場(chǎng)達(dá)成資源的有效配置，將是本文主要的研究?jī)?nèi)容。 本文在對(duì)國(guó)內(nèi)外相關(guān)理論梳理的基礎(chǔ)上，對(duì)證券監(jiān)管及監(jiān)管的有效性進(jìn)行了界定，明確了文章的研究?jī)?nèi)容。并在此基礎(chǔ)上通過對(duì)當(dāng)前創(chuàng)業(yè)板發(fā)行市場(chǎng)進(jìn)行實(shí)證分析，結(jié)合國(guó)外先進(jìn)創(chuàng)業(yè)板市場(chǎng)監(jiān)管的成功經(jīng)驗(yàn)，認(rèn)為當(dāng)前我國(guó)創(chuàng)業(yè)板市場(chǎng)監(jiān)管有效性不足，而要改善其監(jiān)管效果，必須做到以下四方面：首先，明確維護(hù)投資者利益的監(jiān)管理念；其次，應(yīng)突出強(qiáng)調(diào)監(jiān)管過程中的信息披露環(huán)節(jié)，消除市場(chǎng)參與者之間的信息不對(duì)稱現(xiàn)象；再次，改革目前的詢價(jià)制度，加強(qiáng)對(duì)中介機(jī)構(gòu)的監(jiān)管力度：最后，本文認(rèn)為應(yīng)加強(qiáng)媒體等社會(huì)組織在創(chuàng)業(yè)板發(fā)行監(jiān)管中的作用，以促進(jìn)市場(chǎng)透明度。 縱觀全文，本文本著實(shí)事求是、科學(xué)嚴(yán)謹(jǐn)?shù)脑瓌t，采取了理論分析與實(shí)證研究相結(jié)合、計(jì)量分析與歸納分析相結(jié)合的綜合性研究方法，為識(shí)別、測(cè)算和控制地方金融風(fēng)險(xiǎn)提供了科學(xué)、可操作的實(shí)證模型和借鑒方案，具有非常重要的現(xiàn)實(shí)意義和參考價(jià)值。
[Abstract]:In October 30, 2009, China officially launched the GEM market, optimize the allocation of resources provide places for high-tech high growth enterprises, but after the successful launch of the gem has appeared many irregularities, these problems not only affect the stock market operation, resulting in more non validity of the stock market, the stock market has hindered healthy and sustainable development. And the issue of supervision of the first firewall as the healthy development of the gem, its effectiveness will directly affect the stock market development and stability, affect the efficiency of resource allocation of the entire stock market. Therefore, how to improve the effectiveness of supervision of gem issue market and promote the effective allocation of gem the market will reach the resources, is the main content of this paper.
Based on the domestic and foreign related theories on the effectiveness of securities regulation and supervision were defined, clear the contents of the article. And on this basis, based on the empirical analysis of venture board distribution market, combined with the successful experience of foreign advanced regulation of gem, believes that the current gem market in China the lack of effective supervision, and to improve its regulatory effect, must do the following four aspects: first, clear the concept of supervision to safeguard the interests of investors; secondly, should emphasize the information disclosure supervision in the process of eliminating information asymmetry among market participants; thirdly, the reform of the inquiry system, strengthen the supervision of the intermediary organization: finally, we should strengthen the media and other social organizations in the gem issuance regulation in effect, to promote the transparency of the market.
In summary, this text realistic, rigorous scientific principle, adopt the combination of theoretical analysis and empirical research, quantitative analysis and comprehensive research methods, analysis of the combination of recognition, measurement and control of financial risks and provide a scientific and empirical model operation and reference solution, has very important practical the significance and reference value.

【學(xué)位授予單位】：山東財(cái)經(jīng)大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2012
【分類號(hào)】：F832.51

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