我国证券市场上投资者保护的实施特征及其完善方式——一个产权经济学视角

Research on Enforcement Characteristics of Investor Protection and its Improvement——A View of Property Right Economics

从产权经济学的角度,投资者保护的性质是三种不同产权实施方式的综合:自我实施、国家之外的第三方实施以及国家实施。我国证券市场的政府主导性特征,决定了投资者保护的实施特征以国家的相机实施为主,其他实施方式的功能没有得到充分发挥。因而完善我国证券市场投资者保护的实施方式,需要考虑到不同实施方式之间的协调。

The enforcement of investor protection is the combination of self-enforcment,a non-state third party enforcement and state enforcment.The main enforcement characteristics of investor protection in Chinese security market were decided by the markets＇characteristic of government-pushed.Some sugguestions on improving the enforment of investor protection were followed with an analysis on the enforment characteristics.