中美内幕交易监管机制对比研究  

The Comparison of Regulation in Insider Trading between China and America

作　　者：张维[1] 张莹[1] 

机构地区：[1]天津大学管理学院,天津300072

出　　处：《哈尔滨工业大学学报（社会科学版）》2006年第4期89-94,共6页Journal of Harbin Institute of Technology(Social Sciences Edition)

基　　金：国家自然科学基金资助项目(70471062);天津市自然科学基金资助项目(023600411)

摘　　要：由于信息的不对称以及股市买卖内在机制所导致的内幕交易的存在,使得在一小部分交易者获得超额利润的同时,大多数中小投资者的利益受到了严重的损害。在世界保护广大中小投资者的大背景下,国际理论界已经对衡量内幕交易和监管体制进行了大量研究,并建立了相关的理论模型。在对中美法律体制和监管机制进行系统对比的基础上,应吸取国外的先进经验,弥补法律制定、实施以及制度设置上存在的不足,建立有效的监管机制以限制内幕交易的进行。Because of the existence of the asymmetric information and special inner mechanism between the transactions, the profits of the dispersed traders are impaired while insiders gain excessive profits. In the background of protecting the common investors＇rights, there have been momentous theory models according to the measurement of the insider trading as well as the establishment of the regularity. Theoretically and practically, effective corporate governance prevents the generation of the insider trading. Through systematical comparison of the Exchange Acts and admonishing techniques between the U. S and China, it will be found that there are many malpractices existing in the constitution and execution in China, therefore a great number of the innovation should be brought in to mortify the extant situation.

关 键 词：内幕交易 监管制度 交易法案 监控技术 

分 类 号：F833.5[经济管理—金融学]