中美网络投资者关系规制比较研究

Comparison Study of Internet Investor Relations Regulation in the U.S. and China

通过梳理分析美国2000年《电子发布指引》《公平披露法》和2008年《公司网站使用指引》中有关公司网站的规制条文及2013年发布的针对网飞公司不规范使用社交媒体的调查报告等,比较中美两国在网络投资者关系规制上的异同,建议我国在现有的指定媒体信息发布制度框架下,采取措施积极推动、鼓励和规范上市公司使用公司网站和社交媒体等新兴网络技术开展网络投资者关系活动,同时满足、培养和促进投资者通过网络获取信息的习惯,以使资本市场的信息更加丰富、高效和透明.

More and more listed companies use internet as a main investor relations activity channel. How to make the internet platform become an efficient and fair communication method while as the same time to avoid unfair and other illegal activity have become the major concerns of regulators and listed companies. This paper analyzes regulation rules and actions of the U. S. and suggests that China should formulate regulations matching listed companies’ internet investor relation activity needs and put in place some regulation rules to regulate and promote the development of internet investor relations on corporate website and social media,cultivate and facilitate investors practice to get information from the internet and eventually make information of capital market more rich, efficient and transparent.