本文關(guān)鍵詞：創(chuàng)業(yè)板中小投資者權(quán)益保護(hù)法律機(jī)制研究　出處：《西南政法大學(xué)》2013年碩士論文　論文類(lèi)型：學(xué)位論文

  更多相關(guān)文章： 創(chuàng)業(yè)板 中小投資者 權(quán)益保護(hù) 保薦人 信息披露 退市制度

【摘要】：我國(guó)創(chuàng)業(yè)板從2009年設(shè)立至今，已有三年多時(shí)間。在此期間，創(chuàng)業(yè)板市場(chǎng)促進(jìn)了我國(guó)經(jīng)濟(jì)增長(zhǎng)模式的轉(zhuǎn)變，為中小高新技術(shù)企業(yè)提供了新的融資渠道，為投資者也提供了更多的投資選擇。以中小投資者權(quán)益保護(hù)的視角創(chuàng)業(yè)板法律制度研究，對(duì)我國(guó)創(chuàng)業(yè)板市場(chǎng)的健康發(fā)展有重大的意義。 本文除引言外，共有四章。通過(guò)演繹和實(shí)證等分析方法。首先，第一章介紹了創(chuàng)業(yè)板市場(chǎng)的特性及定位，對(duì)創(chuàng)業(yè)板的定義提出了自己的見(jiàn)解，概括了創(chuàng)業(yè)板市場(chǎng)的主要作用，指出創(chuàng)業(yè)板中小投資者面臨的風(fēng)險(xiǎn)。 第二章分析我國(guó)創(chuàng)業(yè)板中小投資者保護(hù)的相關(guān)制度。主要是對(duì)我國(guó)創(chuàng)業(yè)板市場(chǎng)發(fā)揮事前保護(hù)作用的保薦人制度，事中保護(hù)的信息披露制度，事后保護(hù)的退市制度進(jìn)行分析。這些問(wèn)題與中小投資者權(quán)益保護(hù)緊密相關(guān)。保薦人制度是從保薦機(jī)構(gòu)和保薦代表人的任職資格，保薦機(jī)構(gòu)的保薦責(zé)任和保薦責(zé)任期限以及對(duì)保薦人違規(guī)行為處罰等方面進(jìn)行分析；我國(guó)創(chuàng)業(yè)板市場(chǎng)信息披露制度是從信息披露的監(jiān)管效率，信息的披露執(zhí)行，信息披露的內(nèi)容等方面進(jìn)行分析；最后對(duì)我國(guó)創(chuàng)業(yè)板市場(chǎng)退市新規(guī)的特點(diǎn)進(jìn)行總結(jié)，指出本次我國(guó)創(chuàng)業(yè)板退市新規(guī)存在的亮點(diǎn)。 第三章主要指出創(chuàng)業(yè)板中小投資者權(quán)益保護(hù)法律制度存在的主要問(wèn)題。保薦人制度方面主要是指出保薦機(jī)構(gòu)和保薦代表人任職資格的規(guī)定，對(duì)保薦機(jī)構(gòu)和保薦代表人違規(guī)違法的處罰都存在問(wèn)題，保薦機(jī)構(gòu)和保薦代表人的保薦期限太短；創(chuàng)業(yè)板市場(chǎng)信息披露制度方面主要是監(jiān)管效率不高，披露內(nèi)容不完整，信息披露的法律規(guī)范體系不規(guī)范;我國(guó)創(chuàng)業(yè)板退市新規(guī)雖然亮點(diǎn)頗多，但是實(shí)際操作性不強(qiáng)，賠償機(jī)制與責(zé)任追究機(jī)制缺乏，最重要的是缺乏配套的投資者維權(quán)培訓(xùn)機(jī)制。 第四章主要是探討我國(guó)創(chuàng)業(yè)板中小投資者權(quán)益保護(hù)法律機(jī)制的健全。保薦人制度要切實(shí)發(fā)揮好防范風(fēng)險(xiǎn)的作用，完善保薦人任職資格，將保薦機(jī)構(gòu)和人違規(guī)的處罰合理化，延長(zhǎng)保薦期限；信息披露制度要確保中小投資者和上市公司的管理者一樣，都能獲得真實(shí)有效的上市信息。對(duì)此筆者認(rèn)為應(yīng)該不斷加強(qiáng)內(nèi)部控制，健全信息披露外部監(jiān)管制度，不斷完善相關(guān)法律法規(guī)，建立健全的信息披露法規(guī)體系；退市制度則要注重強(qiáng)化上市公司責(zé)任，完善財(cái)務(wù)指標(biāo)，加大對(duì)違規(guī)行為的懲罰力度，強(qiáng)化投資者風(fēng)險(xiǎn)意識(shí)，建立投資者培訓(xùn)機(jī)制。 通過(guò)對(duì)創(chuàng)業(yè)板各項(xiàng)制度的分析，我們認(rèn)識(shí)到我國(guó)的創(chuàng)業(yè)板市場(chǎng)雖然取得了一些成績(jī)，但是在中小投資者權(quán)益保護(hù)方面也存在著不少問(wèn)題，本文在進(jìn)行梳理和總結(jié)的基礎(chǔ)上，提出了自己的觀點(diǎn)，，希望對(duì)我國(guó)創(chuàng)業(yè)板的發(fā)展能有所幫助。
[Abstract]:China's gem since its establishment in 2009, has been more than three years. During this period, the GEM market promoted the transformation of China's economic growth mode, to provide a new financing channel for small and medium-sized high-tech enterprises, for investors to provide more investment options. From the perspective of gem legal system on protection of the rights of the minority investment, is of great significance for the healthy development of China's gem.
In addition to the introduction this paper consists of four chapters. Through deduction and empirical analysis methods. Firstly, the first chapter introduces the characteristics and location of the gem, the definition of the gem put forward their own views, summarizes the main function of the GEM market, pointed out that the risk of small and medium-sized investors of gem.
The second chapter analyzes the related system of China's GEM investors protection. Mainly play the protective role of pre sponsor system of China's GEM market, the protection system of information disclosure in the matter, after analysis of the delisting system protection. Protection of the interests of small investors and the right of these problems are closely related. From the sponsor and sponsor system the sponsor representative qualification, the sponsor of the sponsor's liability and responsibility of the sponsor of the sponsor and the deadline violations punishment and other aspects of analysis; the GEM market information disclosure system of our country is from the information disclosure supervision efficiency, information disclosure, information disclosure contents were analyzed; finally the characteristics of the new regulations delisting business board market in China is summarized, and points out the existing gem delisting rules of this China highlights.
The third chapter points out the main problems existing in the gem legal system of investor protection. The sponsor system is mainly pointed out that the sponsor and sponsor representative qualification regulations, the sponsor and sponsor representatives of illegal punishment has the problem, the sponsor and the sponsor representative of the sponsor period is too short; the GEM market information disclosure system is the main regulatory efficiency is not high, the disclosure of information is not complete, the legal system of information disclosure is not standardized; the gem delisting new regulations in China although many highlights, but the actual operation is not strong, the lack of compensation mechanisms and accountability mechanisms, the most important is the lack of supporting investors rights training mechanism.
The fourth chapter mainly discusses China's gem investor protection legal mechanisms. The sponsor system is to effectively play a good role to prevent risks, improve the sponsor qualification, the sponsor and the penalties for violation of rationalization, extend the term; the information disclosure system to ensure that investors and managers of listed companies. That can be a real and effective market information. This author believes should continue to strengthen internal control, improve the external supervision system of information disclosure, and constantly improve the relevant laws and regulations, the establishment of legal system of information disclosure and improve the delisting system; it should focus on strengthening the responsibility of listed companies, improve the financial index, increase penalties for violations, and strengthen investor risk awareness, establish investor training mechanism.
Through the analysis of the gem of the system, we realize the GEM market in China has achieved some success, but there are also many problems in the protection of the rights of small investors, based on the review and summary, put forward their point of view, the hope of the development of the gem can be help.

【學(xué)位授予單位】：西南政法大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類(lèi)號(hào)】：D922.291.91;D922.287

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