我国股票发行注册制保障机制研究

发布时间：2018-01-16 00:23

本文关键词：我国股票发行注册制保障机制研究　出处：《河北师范大学》2017年硕士论文　论文类型：学位论文

【摘要】：当前世界证券市场上股票发行审核制度主要有核准制和注册制两种审核模式,目前我国实行的是核准制的审核发行模式。虽然这是由我国的证券市场发展基础及相关的配套设施等各种因素决定的但是随着近些年我国经济的持续高速发展,当前证券市场的股票发行核准制的审核模式已经越来越难以满足证券市场的发展需求且存在的矛盾日益尖锐。所以我国的注册制改革势在必行,虽然近几年国家出台了相关的注册制改革的措施但是相关措施却迟迟无法落实,深究其背后原因有投资者理性投资理念尚未形成的原因也有与注册制相关的配套保障措施不完善不到位有关,所以为落实我国注册制的改革方案,本文将从多个方面阐述如何推进我国注册制的方案的落实。本文分为引言和正文两大部分。引言部分主要讲述了我国注册制改革的背景及改革的必要性,改革的目的和实施改革方案的可行性等这几个方面。正文主要从三个方面讲述了对我国股票发行注册制保障机制的研究。第一部分主要讲述了我国股票发行注册制的改革方案及其实行条件,首先说明了股票发行注册制的含义及优点以及建立“监审分离”制度和建立注册制实施保障机制分阶段逐步推进注册制改革这四个方面详细讲述了我国股票发行注册制的改革方案。最后从股票市场应是一个较为成熟的市场控制上市公司总数拥有完善的退市机制,证券监管体系比较完善构建和完善投资者保护的法律环境这四个方面讲述了我国股票发行注册制改革方案的实行条件。第二部分主要讲述了对世界主要资本市场注册制的实行现状以及对我国注册制改革的启示。从美国、日本、中国香港、中国台湾这四个成熟的证券市场讲述了世界主要资本市场注册制的实行现状以及对我国注册制改革的启示。例如美国证券市场成熟的监管模式日本高效的发行注册制审核模式以及中国香港审核制与注册制相结合的模式和中国台湾有效的改革经验等。启示我国证券市场改革要加强监管完善配套设施完善相应的法律法规等。第三部分主要讲述了如何建立和完善我国实行注册制的保障机制通过建立的保障机制推动我国注册制改革方案的落实。从建立完善强化事后监督约束机制和力监管充分有效的发挥证监会的监督职能角度构建注册制的保障机制中的监管制度,从修改《证券法》优化新股发行制度和严格信息披露制度的配套与完善和建立严格的退市制度三个方面构建注册制的保障机制中的相关配套措施。
[Abstract]:At present, there are two kinds of auditing modes in the world stock market: the approval system and the registration system. At present, China is implementing the approval system of the audit and issuance model. Although this is determined by the development of China's securities market and related supporting facilities and other factors, but with the sustained and rapid development of our economy in recent years. At present, it is more and more difficult to meet the needs of the development of the securities market and the contradictions of the audit mode of the stock issuance and approval system in the securities market are becoming increasingly acute. Therefore, the reform of the registration system in our country is imperative. Although in recent years the country has introduced the relevant registration system reform measures, but the relevant measures have not been implemented. The reasons behind it are the investors' rational investment concept has not yet formed, but also the registration system related to the imperfect supporting safeguards are not in place, so that the implementation of China's registration system reform program. This paper will elaborate from many aspects how to promote the implementation of the registration system in China. This paper is divided into two parts: introduction and text. The introduction mainly describes the background and the necessity of the reform of the registration system in China. The purpose of the reform and the feasibility of implementing the reform scheme. The text mainly describes the research on the security mechanism of the registration system of stock issuance in China from three aspects. The first part mainly describes the registration of the stock issue in China. The reform plan and the conditions for its implementation. First of all, it explains the meaning and advantages of the registration system of stock issue and establishes the separation of supervision and trial. This paper expounds in detail the reform scheme of the registration system in China from the four aspects of establishing the registration system and establishing the guarantee mechanism for the implementation of the registration system. Finally, the stock market should be a more mature market control. The total number of listed companies has a complete delisting mechanism. The four aspects of perfecting the legal environment for the protection of investors in the securities regulatory system describe the conditions for the reform of the registration system of stock issuance in China. The second part mainly deals with the implementation of the major capital markets in the world. The present situation of the implementation of the registration system and its enlightenment to the reform of the registration system in China. Japan, Hong Kong, China. The four mature securities markets in Taiwan, China, describe the current situation of the registration system in the world's major capital markets and its implications for the reform of the registration system in China. For example, the mature regulatory model of the US stock market, Japan's efficient issuance note. The audit mode of register system, the mode of combination of audit system and registration system in Hong Kong, and the effective reform experience of Taiwan, etc., etc. The enlightenment of the reform of China's securities market is to strengthen supervision, perfect supporting facilities, perfect the corresponding laws and regulations, and so on. The third part mainly describes how to establish and perfect the guarantee mechanism of implementing the registration system in our country. By establishing the safeguard mechanism, we can promote the implementation of the reform scheme of the registration system in our country. Supervision fully and effectively exerts the supervision function of the CSRC to construct the supervisory system in the safeguard mechanism of the registration system. This paper discusses the relevant measures of establishing the registration system from three aspects: the revision of the Securities Law, the optimization of the new issue system and the strict information disclosure system, and the establishment of a strict delisting system.
【学位授予单位】：河北师范大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F832.51

【相似文献】