摘要
美国市场自20世纪60年代起建立了IPO信息披露分类审核机制,遵循市场化的理念,将审核进度、审核结果与申报文件质量直接挂钩,对于督促发行人及中介机构归位尽责,提高信息披露质量起到积极效果。建议在A股市场深化注册制改革过程中,探索完善信息披露分类审核机制,实现缓解申报企业积压和提高信息披露质量"两难并解"。
The U.S.market has benefited from a classified review mechanism for IPO information disclosure since the 1960 s.The system embodies market principles and directly links the review process and review results with the quality of the application documents.It has had a positive effect in pressing issuers and intermediary institutions to improve the quality of disclosed information.This study recommends that as A-share registration system reforms continue,it is necessary to improve the classification and review mechanism of information disclosure.This will resolve the problem of alleviating the backlog of applications while improving the quality of information disclosure.
出处
《金融市场研究》
2021年第5期95-103,共9页
Financial Market Research
关键词
注册制
信息披露
IPO
市场化
Registration System
Information Disclosure
IPO
Marketization
