1、沈阳师范大学 硕士学位论文 论我国上市公司的信息披露制度 姓名：崔译文 申请学位级别：硕士 专业：民商法学 指导教师：吴钧 20090301 2006 On Information Disclosure System of Chinas Listed Abstract China has entered the era of popular stocks since 2006, and securities investment has become one of the important means for peoples day-to-day financial management.
2、Securities are special financial products which investors trade in the securities market. Since the quality of securities is difficult to observe from outside, the value of securities is usually reflected by comprehensive indicators of finance and law. Therefore, information disclosure system is an
3、important legal system in the stock market. Information disclosure system, also known as publicity system or public disclosure system, is a general term of a set of conduct codes and activity guidelines for the securities-related information disclosed to the public, or submitted and reported to secu
4、rities management department or self-regulatory institute in certain ways by relevant parties in the process of securities issuance, listing and trading in the stock market in accordance with laws, regulations, management rules of securities authority and relevant provisions of securities exchange p
5、laces. Information disclosure system, since its coming into being, has been playing a huge role to protect investors, ensure the efficient operation of securities market, and promote the healthy development of the national economy, becoming an important instrument for the government to intervene in
6、the securities market and conduct macroeconomic control . Meanwhile, information disclosure is a main way for the investors to know the listed company, and for the securities regulatory authorities to monitor the listed companies. However, Chinas listed companies are able to take advantage of the im
7、perfect information disclosure system. Repeated violations, false statements, insider trading etc. continue to occur, and the governments supervision is more often remedial rather than real-time monitoring prevention. Therefore, many medium and small investors tend to become the ultimate victims of
8、securities exchange. Chinas current legislation of information disclosure system is unsound, and the research on information disclosure system is mostly limited to financial field, rare in the legal field. In order to improve the information disclosure system and fill the legal gap, the author state
9、s the view of improving information disclosure system through semantic analysis of information disclosure system, false statements, and insider trading, etc., comparison of studies home and abroad, analysis of the Hangxiao Steel Company case, as well as analysis of information disclosure system toge
10、ther with literature review. After hard work of collecting and sorting out substantial literature and with the combination of personal opinion, the author composes this thesis with the hope of putting forward constructive ideas and making contribution to the legal system of Chinas securities market. Key words Information disclosure system, false statements, insider trading 1 2006 2007 1 31 1 1 2 3 1 2 st 3 2 1 3 1 2 3 2 4 2 1998 1 3 2004 420 4 2004 443 4 1 2 3 1 2 5 3 4 5 . . . 2004(1):25 5 5 61 1 2 2-5 3 6 6 4 2 1 2 3 9 30
