监管套利的动因、模式与法律效力研究

发布时间：2018-03-08 12:06

本文选题：监管制度　切入点：监管套利　出处：《江西财经大学学报》2011年03期 　论文类型：期刊论文

【摘要】：监管套利是市场主体利用制度间的差异性或制度内部的不一致性,为降低成本或获得利润而设计的一系列交易。近年来许多重要的金融事件,无论是对冲基金掀起的金融风暴,还是资本玩家设计的借壳上市,都可以从监管套利这一角度找到逻辑支撑。监管本质上是一种强制性契约,监管套利正是在监管契约自身内在特点的基础上产生的一种必然结果。其有五种模式:从一个监管主体转到另一个监管主体;从一种市场主体身份转为另一种市场主体身份;从一种业务形式转换成另一种业务形式;从一个时间段转移到另一个时间段;从一种核算制度转入另一种核算制度。
[Abstract]:Regulatory arbitrage is a series of transactions designed to reduce costs or make profits by taking advantage of the differences between systems or inconsistency within the system. Many important financial events have occurred in recent years, regardless of the financial turmoil caused by hedge funds. Or the backdoor listing designed by capital players can be supported logically from the perspective of regulatory arbitrage, which is essentially a mandatory contract. Regulatory arbitrage is an inevitable result on the basis of the inherent characteristics of regulatory contract. There are five modes of regulatory arbitrage: from one regulatory subject to another, from one market subject to another; From one business form to another business form; from one time period to another time period; from one accounting system to another accounting system.
【作者单位】：天津财经大学金融系;
【基金】：国家自然科学基金项目(70873087) 教育部人文社会科学研究项目(07JA790047)
【分类号】：D922.28;F831.5

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