论我国证券市场恶性投机行为及其监管对策

On the Pernicious Speculation Action And CorrespondingSupervising Countermeasures in the Stocks Market of China

近年来 ,我国证券市场先后多次出现虚假包装上市、内幕交易、操纵市场等严重违规违法问题 ,不仅损害了广大中小投资者的经济利益 ,而且也扰乱了我国的金融秩序。从理论和实践的角度充分认识我国证券市场中存在的恶性投机行为 ,重视监管工作 ,并找出切实有效的监管对策 ,对于化解和防范证券市场风险、发挥资本市场功能、促进国民经济持续稳定发展有着十分重要的意义。本文作者分析了有效资本市场理论所受到的现实约束 ,论证了实施证券市场监管的必要性 ,剖析了我国证券市场中的恶性投机案例 ,指明了加强证券市场监管的根本对策 ,并提出了提高监管效率的监管方法。

There are some problems such as false packing and marketing, secret transaction and handling market, which have happened in the stocks market of China when it has developed rapidly these years. To stress supervising work and to take effective countermeasures are very important to elaborate the functions of stocks market and promote the development of national economy. The theory of effective capital market is analyzed at first. The necessity of applying supervision is demonstrated then. The typical cases of pernicious speculation are interpreted too. The author pointsd out the key countermeasures to strengthen the supervising work and propose a supervising method to promote the efficiency of supervision at the end.