摘要
本文认为 ,高质量的证券市场是能够获得充分信息的资本提供者和资本使用者有序地组织在一起的市场。它应遵循三个原则 :有效保护投资者合理利益 ;促进证券市场的效益与秩序协调发展 ;监管成本最小化与收益最大化。更为主要的是 ,必须把风险管理作为市场监管的核心内容 ;推行信用评级 ,把好信息披露关 ,抓好股份公司运作监管 ,抓好财务会计信息的适度监管 ,对证券经营机构加强监管 ,对证券市场中介组织加强管理 ,对投资者加强管理 ,以及建立有效的预警系统。
This paper holds the view that a high_quality stock market should be one wherein both providers and users of capital,who can have sufficient access to information,are orderly organized.Such a market should abide by the following three principles: effectively protecting the rational interest of invertors, promoting harmonious development of stock market in terms of profit and order,and monitoring cost minimum and benefit maximum. More importantly,market supervision must be centred around risk mangement and the credit_rating system should be implemented so as to ensure timely release of news, effective control over share_holding corporations and proper supervision on financial and accounting information.It is imperative that supervision be strengthened on securities companies,and management be intensified over intermediacy agents in stock market and over investors,and that an effective alarm system be instituted.
