证券交易所自律监管模式的形成和发展

Formation and Development of the Self-regulation Mode of Stock Exchanges

基于监管组织体内部关系结构,对几种不同监管力量的对比分析表明,在证券交易监管组织和监管机制形成之时,出于保护交易商利益的目的,选择自律监管组织和自律监管机制有其历史必然性。应用关系结构分析框架,本文还简要分析了自律监管模式的新发展。

This paper uses the internal relationship framework of regulation organizations to compare and analyze several different regulation modes.The results demonstrate that,when the regulation or- ganizations came into being,it was historical necessity to select the self-regulation organization and the self-regulation in order to protect the interests of the dealers.Based on the internal rela- tionship framework of regulation organizations,this paper briefly analyzes recent development of the self-regulation mode of stock exchanges.