控制权转移中的内幕交易监管案例剖析

发布时间：2019-01-17 07:07

【摘要】：国内许多研究表明,我国上市公司的大股东可以利用控制权转移来牟取私有收益,加之我国控制权转移市场尚不成熟、监管制度不完善使得内幕交易现象严重。本文采用事件研究法,以典型案例事件期的累积超常收益、超额换手率等为研究对象进行实证研究,以检验上市公司控制权转移中内幕交易的严重程度。本文梳理了2000~2013年我国上市公司控制权转移中的内幕交易案例,并以"兄弟科技"为典型案例分析其内幕交易情况,探究控制权转移事件中发生内幕交易的特点和原因,以利于监管层对此类事件加强监管和防范。
[Abstract]:Many domestic studies show that large shareholders of listed companies in our country can make use of the transfer of control rights to obtain private profits. In addition, the market of transfer of control rights in our country is still immature, and the imperfect regulatory system makes the phenomenon of insider trading serious. In this paper, the event research method is used to test the severity of insider trading in the transfer of control rights of listed companies by taking the cumulative extraordinary income and excess turnover rate of typical cases as the research objects. This paper combs the cases of insider trading in the transfer of control rights of listed companies in China from 2000 to 2013, analyzes the situation of insider trading with the typical case of "Brothers Science and Technology", and probes into the characteristics and causes of insider trading in the event of transfer of control rights. In order to facilitate the supervision of such incidents to strengthen supervision and prevention.
【作者单位】：北京信息科技大学经济管理学院;
【分类号】：F832.51;F275

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