我国创业板市场退市制度研究

发布时间：2018-01-03 09:33

本文关键词：我国创业板市场退市制度研究　出处：《西南政法大学》2012年硕士论文　论文类型：学位论文

【摘要】：创业板市场做为我国多层次资本市场的组成部分，为创新型中小企业的融资提供了筹资平台。自2009年我国创业板市场建立，时至今日已经两年有余，创业板在这两年的运行中既取得了一定的成功，也暴露出了许多不足。成熟的创业板市场的发展经验告诉我们，一国的创业板要想运作良好，必须要有完善的退市制度，因此，退市制度对于创业板市场的良性发展举足轻重。我国创业板市场自建立之初，尽管在《深圳证券交易所创业板股票上市规则》中对退市方面有所规定，但仍然存在种种问题，影响了创业板市场的健康发展。经历两年的酝酿，终于在2011年11月28日发布《关于完善创业板退市制度的方案（征求意见稿）》，，开始了创业板退市制度完善的步伐。不过，该征求意见稿也仍有需要进一步完善的地方。本文在界定创业板和创业板退市制度的基础上，参考海外比较成熟的创业板市场的经验，对我国创业板退市的相关规定，包括《关于完善创业板退市制度的方案（征求意见稿）》的内容进行评析，并相应提出了完善我国创业板退市制度的对策建议。文章由引言、正文、结束语三部分构成。引言部分说明了本文的选题的背景，阐述了文章的论证思路，并进而说明了本文的研究方法和创新之处以及文献综述。正文部分分为四章：第一章介绍了创业板市场及其退市制度的基础理论。第二章考察了世界上成熟的创业板市场的退市制度，主要包括纳斯达克市场、英国另类投资市场和香港创业板市场，并对其进行了总体评价。第三章分析了我国创业板市场退市制度及其存在的不足。第四章针对我国创业板市场存在的问题，借鉴成熟的创业板市场的经验，提出了具体完善的建议。结束语部分对本文进行了总结，并对未来进行了展望。
[Abstract]:The GEM market as part of the multi-level capital market in China, provides financing platform for innovative financing of small and medium-sized enterprises. The establishment of the GEM market in China since 2009, it has been more than two years, the gem has achieved some success in the two years of operation, also exposed many deficiencies. The experience of the development of the GEM market mature tells us that the gem a country to work well, must have perfect delisting system, therefore, the delisting system for the benign development of the GEM market is very important. The GEM market in China since the beginning of the establishment, despite the provisions of the delisting in the "Shenzhen stock exchange venture in listing rules, but there are still many problems affecting the healthy development of the GEM market. After two years of deliberation, finally released" on improving the delisting system in November 28, 2011 The program (Draft) ", started the gem delisting system perfect pace. However, the draft also still needs further improvement. Based on the definition of the gem and gem delisting system on the overseas mature gem market experience, the relevant provisions of me gem delisting, including" on improving the delisting system of gem program (draft) "content analysis, and puts forward some corresponding countermeasures and suggestions to improve the delisting system of gem in our country.
The article is composed of three parts: introduction, text, and concluding remarks.
The introduction explains the background of this topic, expounds the way of argumentation, and further illustrates the research methods and innovations, as well as the literature review.
The text part is divided into four chapters: the first chapter introduces the basic theory of gem and delisting system. The second chapter examines the delisting system in the world. The mature gem market, including the Nasdaq stock market, the investment market offbeat and Hongkong gem market, and has carried on the overall evaluation. The third chapter analyzes the shortcomings the delisting system of gem in China and its existence. In the fourth chapter, aiming at the existing problems of China's GEM market, referring to the GEM market mature experience, put forward specific recommendations for improvement.
The concluding part is a summary of this article, and the future is prospected.

【学位授予单位】：西南政法大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：D922.294;F832.51

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