面向公共投资者的上市公司财务预警构想

The Idea of Financial Forewarning of the Listed Companies to the Private Investors

提高公共投资者的预警意识和预警水平对于维护其利益是必要的,也是促进我国资本市场建设的必然要求。本文从要求公共投资者确立正确的投资目的入手到研究上市公司披露的信息、建立公共投资者的决策援助机制和对"特别处理"的特别关注等几方面,要求公共投资者对上市公司加深理解,以提高公共投资者自身的对上市公司的识别能力。在保障方面,从强化公司治理结构、加强证券监管、关注会计师事务所的变更、提高法律规定的可操作性等几个方面来探讨保护公共投资者权益的方法。

It is necessary to enhance the awareness of financial forewarning released by the listed companies to protect the interests of all private investors. It is also an essential condition for China to become the capital market in the future. The paper is to provide suggestions and advices for private investors of listed companies in China: How to make an accurate assessment before you invest, how to revise the goal of your investment, how to read and analyze the relevant materials or information released by the listed companies, how to seek counsel and assistance in making decision, and how to keep a vigilant guard over the cases of 'special treatment.' To protect the interests of a vast majority of private investors, China Securities Regulatory Commission should take precautious as well as retroactive measures to help maintain the stability and smooth operation of securities market: Strengthening the structure and organization of the executive branch of the listed companies, reinforcing the mechanism of supervision of securities market, investigating the switch of accountant's office from one to another, and revising the laws and rules to fit in the new environment.