浅析我国资本市场的缺陷对二板市场推出的影响

Analysis of the Affection of Our Country's Capital Market's Defects on the Initiation of the Second Board Market

我国科技型中小企业的发展壮大迫切需要二板市场的诞生,但其生存环境——资本市场存在种种缺陷:中介机构极不成熟、机构投资者不合理、股票定价扭曲、信息披露频频违规操作,监管与自律疏漏以及制度建设薄弱等,这些都制约着二板市场的诞生。因此,我国应采取行动,努力培育和完善资本市场,为推出创业板积极创造条件。

The second board mainly faces the high science and technology ventures which will grow rapidly.It is characterized by the low standard of entering the market,the high exposure of information,the high risk,the mature investors,the market maker system and so on. Our country's science-and-technology-typed, middle-and-small ventures strongly need the born of the second board. Hower,its circumstances have various defects:the immaturiyt of intermediate organizations,the unreasonable structure of investors,the distortion of stock's price,the illegal operation of information exposure,the shortage of the law and so on,which hinder the born of the second board marked.Therefore,we should actively take actions to cultivate and complete the capital market in order to initiate the second board.