上海股交中心运行障碍的法律对策研究

发布时间：2018-06-23 12:04

本文选题：信息披露 + 证券监管　；参考：《湖南大学》2015年硕士论文

【摘要】：区域性场外交易市场作为我国构建多层次资本市场的重要基础组成部分,对其建立合理有效的法律规制势在必行。在全国三十多个已建立或正在筹建的区域性股权交易市场中,由于上海股权托管交易中心有资金规模大、覆盖范围广、创新能力强、国际化程度高等优势,因此对于它的法律规制研究最具典型意义和研究价值。通过对上海股交中心的实地调查与考察,运用数据分析法和历史对比法对大量数据进行分析总结出上海股交中心的运行障碍的表现以及原因,将表现概括为内部运行障碍和外部运行障碍两个方面。内部障碍包括企业准入标准模糊、做市商制度的缺位、信息披露缺乏层次性和转板渠道封闭;外部运行障碍包括上位法缺失、行政垄断和监管缺失。并以此分析提出相应的解决对策。内部运行障碍的法律对策立足于股交中心的整个运作系统,将主体准入制度、交易制度、信息披露制度和转板制度当作一个有效运作法律体系统一分析,解决这一问题的主要对策是以证监会为主要机构颁布适合整个区域性股权交易市场的可操作性操作细则。外部运行障碍主要是以上海股交中心作为区域性股权交易市场的组成部分为前提,面临的外部法律规制的构建与完善,可分为上位法的完善、打破行政垄断和市场监管制度三个方面进行研究,解决的主要对策是完善整个法律体系,建立上位法,为区域性场外市场的法律适用提供法律依据。
[Abstract]:As an important part of the construction of multi-level capital market, the regional over-the-counter market is imperative to establish reasonable and effective legal regulation. In more than 30 regional equity trading markets that have been established or are in the process of being set up, the Shanghai Equity Trusteeship Trading Center has the advantages of large capital scale, wide coverage, strong innovation ability, and high degree of internationalization. Therefore, the study of its legal regulation has the most typical significance and research value. Through the field investigation and investigation of Shanghai Stock Exchange Center, using the data analysis method and historical contrast method to analyze a large number of data, the paper summarizes the performance and reasons of the Shanghai Stock Exchange Center's running obstacles. The performance can be summarized into two aspects: internal operation obstacle and external operation obstacle. Internal obstacles include vague access standards of enterprises, absence of market maker system, lack of levels of information disclosure and closure of turntable channels; external operational obstacles include lack of upper law, administrative monopoly and lack of supervision. Based on this analysis, the corresponding solutions are put forward. The legal countermeasures of internal operational obstacles are based on the whole operation system of the stock exchange center, and make a unified analysis of the subject access system, the transaction system, the information disclosure system and the turnaround system as an effective operating legal system. The main countermeasure to solve this problem is to promulgate the operational rules suitable for the whole regional stock trading market with the CSRC as the main organization. The external obstacles are mainly based on the Shanghai Stock Exchange Center as a component part of the regional stock exchange market, and the construction and improvement of the external legal regulations can be divided into the improvement of the upper law. To break the administrative monopoly and the market supervision system, the main countermeasures are to perfect the whole legal system, establish the upper law, and provide the legal basis for the application of the law in the regional over-the-counter market.
【学位授予单位】：湖南大学
【学位级别】：硕士
【学位授予年份】：2015
【分类号】：D922.287

【相似文献】