我国区域性资本市场法律制度研究

发布时间：2018-04-29 20:04

本文选题：区域性资本市场 + 中小微企业融资　；参考：《中国社会科学院研究生院》2017年硕士论文

【摘要】：区域性资本市场,也称“四板市场”,是继我国沪深交易所(主板或一板)、深交所创业板(二板)、全国中小企业股份转让系统(新三板)之后,为省级行政区域内中小微企业提供融资和证券转让服务的私募证券市场。在当前我国国民经济步入中低速发展的“新常态”下,中央到地方积极倡导“大众创业”、“万众创新”、促进中小微企业健康发展、解决中小微企业融资难和融资贵问题,而区域性资本市场作为我国多层次资本市场体系中专门服务于中小微企业的基础层市场,在支持“双创”、解决中小微企业融资“两难”和服务实体经济等方面发挥着重要作用。同时也应该看到,由于法律地位不明确、相关法律制度缺陷、市场功能不完善等原因,区域性资本市场自身合法性及规范发展受到严重制约。本文以“我国区域性资本市场法律制度研究”为主题,在全面介绍区域性资本市场功能定位、主要特征、发展状况的基础上,深入剖析了我国区域性资本市场法律制度状况及其存在的主要缺陷,结合境外场外市场和国内多层次市场的法律制度对比研究,提出我国区域性资本市场法律制度的改进方向。全文共分为四章:第一章“区域性资本市场概述”,详细介绍了区域性资本市场的基本概念、在多层次资本市场中的定位、基本功能和主要特征。通过对区域性资本市场的全面了解,为研究我国区域性资本市场法律制度的缺陷,做好铺垫和准备。第二章“我国区域性资本市场的发展状况”,运用实证分析方法和相关数据资料,对我国区域性资本市场自成立至今的历史沿革、发展特征进行分析。通过对区域性资本市场发展历程和市场实践的回顾,评判其对建设多层次资本市场体系、支持中小微企业发展、服务实体经济的重要作用,为加快区域性资本市场法律制度建设的必要性和紧迫性提供佐证。第三章“我国区域性资本市场法律制度及缺陷分析”,重点介绍了我国区域性资本市场现有的法律制度状况,从法律地位不明确、法律制度低位阶、顶层设计和立法规范缺失、发行交易制度封闭性等四个方面,剖析我国区域性资本市场法律制度存在的主要缺陷。第四章“我国区域性资本市场法律制度的改进方向”,在前三章研究分析的基础上,以问题为导向,从市场地位的法律修正、发行和交易制度的法律突破、市场监管制度的法律完善、信息披露的规制创新、区域性资本市场的立法建议等五个方面,针对性地提出完善我国区域性资本市场法律制度的改进方向。
[Abstract]:The regional capital market, also known as the "fourth board market," is after China's Shanghai and Shenzhen exchanges (main Board or one Board), Shenzhen Stock Exchange growth Enterprise Market (second board), National small and Medium-sized Enterprises share transfer system (new third board), Private equity market that provides financing and securities transfer services for small and medium enterprises in provincial administrative areas. Under the "new normal" of the middle and low speed development of our national economy, the central to local governments actively advocate "mass entrepreneurship" and "numerous innovations" to promote the healthy development of small and medium-sized enterprises, and to solve the financing difficulties and expensive problems of small and medium-sized enterprises. The regional capital market, as the foundation market of our country's multi-level capital market system, which specially serves small and medium-sized enterprises, is supporting "double innovation". Solving the financing dilemma of SMEs and serving the real economy plays an important role. At the same time, due to the unclear legal status, defects of relevant legal system, imperfect market function and other reasons, the legitimacy and normative development of regional capital market are seriously restricted. Based on the theme of "study on the legal system of Regional Capital Market in China", this paper introduces the function orientation, main characteristics and development of regional capital market in an all-round way. This paper deeply analyzes the legal system of regional capital market in China and its main defects, and puts forward the direction to improve the legal system of regional capital market in our country, combining with the comparative study of the legal system of the overseas over-the-counter market and the domestic multi-level market. The paper is divided into four chapters: the first chapter is an overview of regional capital market. It introduces in detail the basic concept of regional capital market, its position in multi-level capital market, its basic functions and main characteristics. Through the comprehensive understanding of regional capital market, this paper makes a good preparation for the study of the defects of our country's regional capital market legal system. In the second chapter, "the development of regional capital market in China", the historical evolution and development characteristics of regional capital market in China since its establishment are analyzed by using empirical analysis method and relevant data. By reviewing the development course and market practice of regional capital market, this paper evaluates its important role in building multi-level capital market system, supporting the development of small and medium-sized enterprises, and serving the real economy. To speed up the construction of regional capital market legal system to provide evidence for the necessity and urgency. The third chapter is "legal system and defect Analysis of China's Regional Capital Market", focusing on the status of the existing legal system of China's regional capital market, from the legal status is not clear, the legal system is low, the top level design and legislative norms are missing. This paper analyzes the main defects of the regional capital market legal system in China from four aspects: the closeness of the issuing and transaction system. The fourth chapter, "the direction to improve the legal system of China's regional capital market", on the basis of the first three chapters' research and analysis, takes the problem as the direction, from the legal amendment of the market position, the legal breakthrough of the issuing and trading system, This paper puts forward the direction of improving the legal system of regional capital market in China from five aspects: the legal perfection of the market supervision system, the innovation of the regulation of information disclosure, and the legislative suggestions of the regional capital market.
【学位授予单位】：中国社会科学院研究生院
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：D922.287

【相似文献】