北京理工大学学报:社会科学版
北京理工大學學報:社會科學版
북경리공대학학보:사회과학판
Journal of Beijing Institute of Technology(Social Sciences Edition)
2008年
3期
11~14
,共null页
资本市场 监管 效率
資本市場 鑑管 效率
자본시장 감관 효솔
capital market; supervision; efficiency
我国资本市场的发展关系到国有企业乃至整个国民经济发展。对资本市场进行有效的监管是提高资本运作的规范性和效率的必要和必然。文章运用法律经济学的观点从以下几方面进行了探讨:一是政府的监管应体现为制度化的规范;二是信息不对称使政府监管成为必然;三是立法上实现外部成本的内化,促进资本的最大效率利用;四是资本市场主体的行为最终要靠人的自我选择。
我國資本市場的髮展關繫到國有企業迺至整箇國民經濟髮展。對資本市場進行有效的鑑管是提高資本運作的規範性和效率的必要和必然。文章運用法律經濟學的觀點從以下幾方麵進行瞭探討:一是政府的鑑管應體現為製度化的規範;二是信息不對稱使政府鑑管成為必然;三是立法上實現外部成本的內化,促進資本的最大效率利用;四是資本市場主體的行為最終要靠人的自我選擇。
아국자본시장적발전관계도국유기업내지정개국민경제발전。대자본시장진행유효적감관시제고자본운작적규범성화효솔적필요화필연。문장운용법률경제학적관점종이하궤방면진행료탐토:일시정부적감관응체현위제도화적규범;이시신식불대칭사정부감관성위필연;삼시입법상실현외부성본적내화,촉진자본적최대효솔이용;사시자본시장주체적행위최종요고인적자아선택。
China's capital market is crucial for the development of state-owned enterprises and the national economy as a whole. Thus to standardize and increase the efficiency of capital operation, it is necessary to carry out effective supervision on the capital market. This paper probes into the issue from the angle of the economic analysis of law and draws the following conclusions. Firstly, the government's supervision should be embodied by institutional norms. Secondly, asymmetric information calls for the government supervision. Thirdly, the external costs should be internalized in legislation to promote the efficiency of capital utilization. Fourthly, the main bodies' behavior in capital market ultimately depends on their own choices.