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  本文關(guān)鍵詞： 新三板 做市商 擴容 轉(zhuǎn)板制度　出處：《東北財經(jīng)大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

【摘要】：2006年1月證監(jiān)會決定對中關(guān)村園區(qū)內(nèi)的高新技術(shù)非上市企業(yè)進入代辦股份轉(zhuǎn)讓系統(tǒng)進行試點,自此,“新三板”在深交所正式掛牌啟動。這標(biāo)志著我國在發(fā)展多層次資本市場的過程中又邁出了巨大的一步,新三板市場的建立為投資者和高新科技企業(yè)帶來了新的投資機會和融資渠道,同時是對建設(shè)我國多層次資本市場體系中場外市場的又一次探索,也是落實國家大力推動結(jié)構(gòu)調(diào)整、利用資本市場高新技術(shù)等新型企業(yè)的一次實踐。 本文的研究是建立在新三板迎來全國擴容的背景下。隨著新三板掛牌企業(yè)越來越多,其服務(wù)于中小企業(yè)的功能越來越強,無論是掛牌公司本身的經(jīng)營業(yè)績,還是市場的定向增資和股份交易額,都呈現(xiàn)出企穩(wěn)向好的態(tài)勢。但是我國新三板的開辦不過7年多的時間,落后發(fā)達國家較長時間,我國新三板市場在制度完善上也距英美等國家有較大的距離。如何更好的發(fā)揮三板市場應(yīng)有的功能,建立多層次資本市場體系,還有很長的路要走。 本文是基于對英美國家三板市場分析比較的基礎(chǔ)上提出我國新三板市場的功能定位,并就目前新三板存在的問題,提出構(gòu)建新三板的建議和方案。對英美國家三板市場從上市程序、上市條件、退市標(biāo)準(zhǔn)、轉(zhuǎn)板制度、做市商制度等各個角度進行了分析研究,其主要目的就是希望能對我國新三板市場的建設(shè)給予一些啟發(fā)和幫助。同時認為我國新三板市場當(dāng)前存在的最重要的幾個問題是擴容問題、引入做市商制度的問題和轉(zhuǎn)板的問題,這也是新三板下一步發(fā)展最需解決的三點,結(jié)合對英美市場的比較分析以及我國新三板當(dāng)前的狀況,分別對這三個問題予以分析并提出可行性方案。
[Abstract]:In January 2006, the CSRC decided to conduct a pilot project on the transfer system for the shares of the agents of high-tech and unlisted enterprises in the Zhongguancun Park. Since then, the "New third Board" has been officially launched on the Shenzhen Stock Exchange. This marks another huge step in the process of developing a multi-level capital market in China. The establishment of the new third board market has brought new investment opportunities and financing channels for investors and high-tech enterprises, and it is also another exploration of the construction of the over-the-counter market in China's multi-level capital market system. It is also a practice of promoting structural adjustment and utilizing new-type enterprises such as high-tech capital markets. The research of this paper is based on the new third board welcome the national expansion background. With the new third board listing enterprises more and more, its service to small and medium-sized enterprises is becoming stronger and stronger, regardless of the listed company's own operating performance, It is also the targeted capital increase in the market and the volume of share transactions, both showing a trend of stabilizing and improving. However, China's new third board has only been in operation for more than seven years, and it has lagged behind the developed countries for a long time. There is still a long way to go to improve the system of the new third board market in China and other countries, such as the United States and the United States, how to better play the function of the third board market and establish a multi-level capital market system. Based on the analysis and comparison of the third board market in Britain and America, this paper puts forward the function orientation of the new third board market in our country, and discusses the problems existing in the new third board market at present. This paper puts forward some suggestions and schemes for the construction of the new three boards. It analyzes and studies the listing procedure, listing conditions, delisting standards, conversion system, market maker system and so on in the third board market of British and American countries. Its main purpose is to hope to give some inspiration and help to the construction of the new third board market in China. At the same time, it is believed that the most important problems existing in the new third board market in our country are the expansion of capacity. The introduction of the market maker system and the issue of turning over the board are also the three most important points to be solved in the next step of the development of the new three boards, combining with the comparative analysis of the British and American markets and the current situation of the new three boards in China. The three problems are analyzed and the feasible scheme is put forward.
【學(xué)位授予單位】：東北財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F832.51;F831.51

【引證文獻】

相關(guān)碩士學(xué)位論文 前1條

1 徐鐵云;科技型中小企業(yè)新三板掛牌規(guī)范問題研究[D];浙江工商大學(xué);2015年

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本文編號：1514238