论资本市场信息披露机制的建设

Building of Mechanism of Throw Daylight on Information in Capital Market

在资本市场上,信息披露是投资者了解上市公司、证券监管机构监管上市公司的主要途径,信息披露制度是各国证券法律制度的重要原则。资本市场信息披露机制建设的基本理论依据是“有效资本市场理论”。美国、法国等西方发达国家资本市场信息披露机制建设的经验可以给我们很好的启发。资本市场信息披露机制的建设首先要进一步完善法律建设,其次要进一步完善执法体系,第三要进一步完善公司的治理结构,第四要进一步完善政府监管模式。

In capital market, throwing daylight on information is main method that investor know the listed company and the organization of administrating stock administrate listed company, and the system of throwing daylight on information is the important principle about law system of stock in every country. The basis theory of building of a mechanism of throwing daylight on information in capital market is “Efficient Capital Market Hypothesis”. The experience of building of a mechanism of throwing daylight on information in capital market in west developed countries such as United State of America and France can be give us good suggest. Building of a mechanism of throwing daylight on information in capital market, we fast have to more perfect law building, and second have to more perfect the system of execute the law, and third have to perfect more structure of company, and forth have to more perfect the mode of administration of government