后股权分置时代监管、创新与市场发展  

Regulation,Innovation and Development of Securities Market in Post Non-tradable Share Reform Era

作　　者：张育军[1] 

机构地区：[1]深圳证券交易所,广东深圳518010

出　　处：《证券市场导报》2006年第7期22-35,共14页Securities Market Herald

摘　　要：后股权分置时代,是股份“流转顺畅”的时代,是中国经济的证券化时代。市场化、机构化、监管透明化、境内外市场一体化,成为我国资本市场变化的主趋势。在后股权分置时代,大力发展资本市场是基本主题,其具体表现形式为减少差异、缩小差距。由于市场参与主体利益的显性化,资本市场运行的生态环境正在发生深刻变化,过去依赖股权分置为基础的监管理念、监管模式、监管法规、监管对象、监管手段,需要革故鼎新。Post non-tradable share reform era is a free-float era with highly securitized economy. The capital market will see an increasing trend of deregulation, institutionalization, regulation transparency and market integration. Expansion and growth will be the theme, characterized by the narrowing gap with developed markets. The ecological environment of the market is undergoing fundamental change, which calls for regulation to be innovated in its principle, mode, rules, objectives and methods.

关 键 词：股权分置改革 市场监管 证券化 资本市场创新 

分 类 号：F830.9[经济管理—金融学]