南京审计学院学报
南京審計學院學報
남경심계학원학보
JOURNAL OF NANJING AUDIT UNIVERSITY
2012年
2期
23-28
,共6页
投资者利益保护%股票市场规制目标%上市公司信息披露%转型期%政府规制%金融监管
投資者利益保護%股票市場規製目標%上市公司信息披露%轉型期%政府規製%金融鑑管
투자자이익보호%고표시장규제목표%상시공사신식피로%전형기%정부규제%금융감관
protection of investors＇ interest%stock market%objective of regulation%information disclosure of listed companies%the transitional period%government regulation%financial supervision
＂为国有企业筹资、推动国民经济增长＂这一政府股票市场规制的目标已经不能适应经济发展的要求,监管当局应该将＂加强投资者利益保护＂作为股票市场规制的核心目标,以进一步推进中国股票市场的可持续发展。保护投资者利益是股票市场政府规制目标的核心。造成我国股票市场投资者保护机制缺失的制度性基础在于政府一身兼三职的制度安排,即政府既是国有上市公司、证券交易所、证券公司的实际或者变相的终极所有者,又是投资者利益的守护神,同时也是证券市场的规制与监管者。
＂為國有企業籌資、推動國民經濟增長＂這一政府股票市場規製的目標已經不能適應經濟髮展的要求,鑑管噹跼應該將＂加彊投資者利益保護＂作為股票市場規製的覈心目標,以進一步推進中國股票市場的可持續髮展。保護投資者利益是股票市場政府規製目標的覈心。造成我國股票市場投資者保護機製缺失的製度性基礎在于政府一身兼三職的製度安排,即政府既是國有上市公司、證券交易所、證券公司的實際或者變相的終極所有者,又是投資者利益的守護神,同時也是證券市場的規製與鑑管者。
＂위국유기업주자、추동국민경제증장＂저일정부고표시장규제적목표이경불능괄응경제발전적요구,감관당국응해장＂가강투자자이익보호＂작위고표시장규제적핵심목표,이진일보추진중국고표시장적가지속발전。보호투자자이익시고표시장정부규제목표적핵심。조성아국고표시장투자자보호궤제결실적제도성기출재우정부일신겸삼직적제도안배,즉정부기시국유상시공사、증권교역소、증권공사적실제혹자변상적종겁소유자,우시투자자이익적수호신,동시야시증권시장적규제여감관자。
The objective of ＂financing state-owned enterprises, thus accelerating economic growth＂ is no longer compliant with the economic development. Regulatory authorities should make ＂strengthen the protection of investors＇ interest＂ as a core objective of stock market regulation to further promote the sustainable development of China＇s stock market. Protecting investors＇ interests is the core objective of government regulation of the stock market. The institutional foundation of the absence of the investor protection mechanism in Chinese security market is that the government plays three roles at the same time ： the ultimate owner of the state-owned listed companies and stock exchange and security companies ; the protector of investors＇ interest and the regulator and supervisor of the stock market.
