我国股权众筹投资者适当性制度的构建

发布时间：2018-03-10 20:49

本文选题：股权众筹　切入点：投资者适当性　出处：《现代经济探讨》2017年02期 　论文类型：期刊论文

【摘要】：信息披露制度对股权众筹投资者保护提出了悖论性难题,其保护投资者之功能已被严重削弱甚至失灵。股权众筹投资者适当性制度旨在确保股权众筹项目对于投资者而言是适当的,乃加强投资者保护的一条可行路径。在理论层面,投资者适当性制度的主流理论适用于股权众筹领域皆有所欠缺,而信义义务理论中的脆弱性理论、不平等理论和信赖保护理论则可较为全面、准确地解释股权众筹投资者适当性制度的正当性与合理性;在制度层面,应构建投资者分类制度和投资限额制度,同时明晰股权众筹平台所应承担的投资者适当性一般义务与特殊义务之内容。
[Abstract]:The information disclosure system poses a paradoxical problem to the protection of the stock rights investors. Its function of protecting investors has been seriously weakened or even malfunctioned. The system of equity crowdfunding investor appropriateness is designed to ensure that the equity crowdfunding project is appropriate for investors and is a feasible way to strengthen investor protection. The mainstream theory of investor appropriateness system can be applied to the field of equity crowdfunding, while the vulnerability theory, the unequal theory and the trust protection theory in the theory of fiduciary obligation can be more comprehensive. It explains the legitimacy and reasonableness of the appropriate system of stock rights investors, and at the institutional level, we should construct the investor classification system and the investment quota system. At the same time, the content of the investors'appropriate general obligation and special obligation should be clearly defined.
【作者单位】：厦门大学法学院;
【基金】：中国法学会2015年重点委托课题“福建自贸区若干重大法律问题研究”(项目编号:CLS[2015]ZDWT28) 中央高校基本科研业务费专项资金资助项目“财税金融法”(项目编号:20720151038) 西南政法大学2016年度学生科研创新计划项目“互联网金融市场软法治理研究”(项目编号:2016XZXS-005)的阶段性成果
【分类号】：F832.4

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