试论证券市场的伦理相关性

The Ethical Relativity of Stock Market

证券市场不仅仅属于金融领域,也与伦理密切相关。证券市场中的信用缺失以及对三公原则的践踏,必然引起广泛的社会灾难。证券市场的高风险特质、交易的预期性与非人格化特征决定了证券市场的良序发展必然依赖诚信原则和三公原则。诚信是行为人建立在诚实可信基础上的心理承诺与契约实践相统一的行为及其道德价值的体现,它有效制约和防范市场主体的个人行为;三公原则致力于市场环境的公开、公平与公正,保证所有市场参与者都能按照市场经济的原则,在相互尊重对方利益的基础上进行投融资活动,是证券市场规范化的一个基本要求,是保障投资者合法利益的前提和基础。诚信原则和三公原则共同构成证券市场的伦理原则体系,共同保障证券市场健康稳定的发展。

Stock market not only belongs to the realm of finance, but is closely relevant to ethics as welt. The absence of credit and the trample on the principles of ＂open, impartiality and justness＂ are certain to cause sweeping social tragedy. The high risks, the anticipative trades and the impersonalization of stock market determine that the well--ordered development of stock market must rely on the principles of credit and the principles ＂open, impartiality and justness＂, which jointly constitute the system of ethical principle and guarantee the healthy and steady development of stock Markey.