【摘要】：新三板市場是我國資本市場的重要組成部分，是我國發(fā)展多層次資本市場、優(yōu)化資本市場功能的必要舉措。新三板市場既能為無法在主板、創(chuàng)業(yè)板上市的中小企業(yè)提供股份轉讓、增發(fā)融資的平臺，又能為中小企業(yè)提供輔導培育服務，促進其優(yōu)化公司治理結構、完善信息披露制度。同時，對于從主板、創(chuàng)業(yè)板退市的公司，新三板市場可以提供一個股份轉讓交易的場所。因此，新三板市場有著重要的存在價值與不可或缺的市場作用。但是，自新三板市場開辦以來，市場交投冷清，極少有投資者愿意涉足該市場，導致場外交易市場功能無從發(fā)揮，多層次證券體系更是無從建立。探究其產(chǎn)生的原因，相關法律體系不健全已嚴重阻礙了新三板市場的健康有序發(fā)展。立法體系的不足限制了新三板市場的持續(xù)發(fā)展、交易制度的缺陷抑制了投資者的積極性、信息披露制度的不足導致市場操縱與欺詐問題頻發(fā)、監(jiān)管機制的失位制約了市場功能的有效發(fā)揮等。 本文的研究目的在于對我國新三板市場現(xiàn)行法律問題進行分析并借鑒國外成熟資本市場經(jīng)驗，，從而提出對我國新三板市場相關法律制度完善的建議。為實現(xiàn)該研究目的，本文主要從四大方面進行研究：首先，對我國三板市場的產(chǎn)生及其發(fā)展進行概括說明，并界定其法律范疇。其次，試從我國新三板市場現(xiàn)行的法律制度進行分析并指出其未完善之處。再次，通過對國外成熟資本市場的三板市場法律制度的分析，總結出值得我們借鑒的相關法律制度。最后，通過比較分析及理論論證提出完善我國新三板市場的相關法律制度的具體措施及相關建議。
[Abstract]:The new third board market is an important part of the capital market of our country. It is the necessary measure to develop the multi-level capital market and optimize the function of the capital market. The new third board market can not only provide a platform for share transfer and additional financing for small and medium-sized enterprises that cannot be listed on the main board and gem, but also provide guidance and nurturing services for small and medium-sized enterprises, promote the optimization of corporate governance structure and perfect the information disclosure system. At the same time, for companies delisting from the main board and gem, the new third board market can provide a place for share transfer transactions. Therefore, the new three-board market has an important value and indispensable market role. However, since the opening of the new market, few investors are willing to set foot in the market, which makes the function of the over-the-counter market impossible to play, and the multi-level securities system can not be established. To find out the reasons, the unsound legal system has seriously hindered the healthy and orderly development of the new three-board market. The deficiency of the legislative system restricts the sustainable development of the new third board market, the defects of the trading system restrain the enthusiasm of investors, and the deficiency of the information disclosure system leads to the frequent market manipulation and fraud. The loss of supervision mechanism restricts the effective exertion of market function and so on. The purpose of this paper is to analyze the current legal problems of the new third board market of our country and to draw lessons from the experience of foreign mature capital market, and then put forward some suggestions to perfect the relevant legal system of the new third board market of our country. In order to achieve the purpose of the research, this paper mainly studies from four aspects: first, the emergence and development of the third board market in China are explained and its legal scope is defined. Secondly, it analyzes the current legal system of the new three-board market and points out its imperfections. Thirdly, through the analysis of the legal system of the foreign mature capital market, we summarize the relevant legal system that we should learn from. Finally, through comparative analysis and theoretical argumentation, the author puts forward concrete measures and relevant suggestions to perfect the relevant legal system of the new third board market in China.
【學位授予單位】：華中科技大學
【學位級別】：碩士
【學位授予年份】：2013
【分類號】：D922.294

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相關期刊論文 前10條

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本文編號：2154203