退市制度在中国股票市场的重要地位

伴随着我国证券市场法制化、规范化的进程，上市公司退市法律制度日益收到人们的重视。文中主要围绕退市制度的重要性进行相关的介绍。     

我国证券发行保荐人制度研究

20世纪70年代西方各国纷纷在主板市场外建立了创业板市场(又称二板市场),为中小型高科技企业提供了融资便利,推动了国民经济的发展。我国于2000年启动了创业板市场,与主板市场相比,创业板市场风险更大,上市公司被摘牌、破产倒闭的概率更高。为了保护投资者的利益,促进创业板市场的健康发展,深圳证券交易所参照国外二板市场的做法,发布了《创业企业股票发行上市保荐制度暂行办法》,提出了完整的保荐人制度。2006年1月1日正式施行的《中华人民共和国证券法》正式引入了保荐人制度,这进一步完善了我国的证券发     

论如何完善我国证券法中的虚假陈述民事责任制度

我国证券法及其司法解释对证券虚假陈述行为应承担的民事责任进行了较为详细的规定。这些规定在实践中对证券市场的中小投资者的利益起到了很好的保护作用。但是,证券虚假陈述民事责任的法律制度仍然存在一些不足之处。为了完善我国证券市场的制度,充分维护投资者的权益,我们有必要对证券市场上虚假陈述的民事责任进行完善。     

刍议证券欺诈的民事责任

我国证券市场作为一个正在发展中的新兴市场,带来了经济上的繁荣昌盛,然而,证券欺诈频繁出现,已影响了中国证券市场的健康发展。随着中国越来越多投资者的入市,证券欺诈牵扯到更多人的合法权益。如何解决这一难题?完善目前的证券法律责任制度是当务之急。     

关于我国QFⅡ制度的法律反思

我国QFII制度的主要内容QFII(Qualified Foreign InstitutionalInvestors)制度即合格的境外机构投资者制度,是指允许合格的境外机构投资者在一定规定和限制下汇入一定额度的外汇资金,并转换为当地货币,通过严格监管的专门账户,投资当地证券市场,其资本利得、股息等经批准后可转为外汇汇出的一种市场开放模式。它作为一项过渡性制度安排,是那些货币没有实现可自由兑换、资本项目尚未完全开放的国家或地区实现有序、稳步开放的特殊通道。由证监会、中国人民银行联合发布的《合格境外机构投资者境内证券投资管理暂行办法》(以下简称《办法…     

完善创业板退市制度 真正建立优胜劣汰的市场机制

补遗：本刊今年第9期《完善创业板退市制度真正建立优胜劣汰的市场机制》一文，原文文末参考文献较多，因篇幅所限，当期未予刊登。现将该文参考文献予以补登。     

浅析我国金融市场的期证合作

近几年来,作为国内个人投资主要渠道的中国证券市场曾在较长时期处于较低迷的状态。如何满足居民个人的切实投资需求、扩大投资市场,已成为国内金融经纪业所面对的严峻问题。期证合作无疑为期货公司和证券公司都增加了收入渠道,也为投资者增加了更为多样灵活的投资途径。目前我国期货公司总体实力比较单薄,仅     

推出市政债券为新型城镇化建设融资

新型城镇化建设的融资需求已引起各方主体的高度重视,探索推出市政债券是其中一个重要举措。为此,当前应加快立法,加强法制建设,健全法律法规体系,完善相关法律制度;规范地方政府举债行为,强化对地方政府举债的市场约束,构建多元化的城镇化建设融资体系,建立可持续的城镇化建设融资机制;严格执行财经纪律,构建地方政府的财政信用,强化地方财政预算约束,提高地方财政预算执行的透明度;完善信用风险管理制度,加强信用风险管理,有效防范和控制市政债券的信用风险;制定市政债券投资的税收优惠政策,增强对投资者的吸引力,发展壮大投资者队伍。     

论我国证券投资者法律保护的完善

中国证券投资者保护基金有限责任公司的成立,为中国的证券投资者保护领域打下了基础。但是,我国的证券投资者保护制度本身依然存在诸多缺陷和不足。本文将立足于中国证券投资者保护制度展开研究．在现有的制度架构上进行职能完善,构建非诉解决机制,以达到完善我国投资者保护制度的目的,真正实现对证券投资者权益的保护。     

天津市农用地流转动力及动力机制分析

基于天津市农用地流转的动力机制分析,提出完善当前农村土地制度的思路.其中,农用地流转内部动力主要包括农村人口结构、 农民收入水平和农村发展水平;外部动力主要包括农用地流转制度、 农民保障制度、 政府财政补贴制度和市场完善程度.当存在规模经济时,农用地流转自适应机制会强化这一流转过程;当存在规模不经济时,农用地流转的反馈机制会通过不健全的农用地产权制度、 政府干预、 农民参与流转积极性不高和不完善的农用地流转市场来反向影响外部动力进行调整.因此,政府应健全完善农用地产权制度,采取适应的行政手段,培养农民参与流转的意愿,建立农用地流转市场,以实现规模经济.     

农村土地承包经营权流转市场运行机制研究

本文以上海、山东、湖北等地的土地承包经营权流转先行试点地区为例,分别从法律法规和试点实践经验等层面研究探讨构建土地承包经营权流转市场运行机制的客观必然性,提出构建土地承包经营权流转市场运行机制的总体框架和运行机制,以促进农村土地承包经营权有序流转,加快形成农业适度规模经营。     

上海市属国企整体上市后国有资本退出机制研究

上海市属国企整体上市后国有资本的退出,是完善国资有进有退、有序流动机制的重要内容,也是落实横向收缩国资行业跨度、纵向收缩国资管理层级、点上收缩国有股权比重的内在要求。在符合国家有关法律、行政法规的前提下,坚持"总体设计、突破瓶颈、稳步实施、形成制度",公平、公正、公开地操作整体上市公司退出部分国有资本,做到把握退出的资本、退出的标准、退出的途径和退出的时机。     

Making welfare subordinate to market activities: Reconstructing social security in Hong Kong and Mainland China

Both the Mainland Chinese and Hong Kong Special Administrative Region governments have recently been reforming their social security policies with the emphasis on welfare residualism. This paper is intended to discuss the background to the reforms and to demonstrate how the reforms are designed to reduce the governments' commitment to meeting social needs. It argues that the two governments, by developing the entry, exit, double entry, and double exit systems of social security services, have attempted to strengthen the role of the private market in regulating people's entrance to both the labour and consumption market, and public welfare services.     

对租赁型公共住房退出机制的思考

上海目前的出租型公共住房包括廉租房、租赁型经适房和公租房。随着上海住房保障体系建设的快速推进,租赁型公共住房后期管理中的退出问题受到关注,如何有效地使用公共住房资源,从一些国家和地区的经验出发,可从3个方面进行思考:根据收入及资产准入线,决定租赁型公共住房退出机制;根据承租人是否遵纪守法,决定租赁型公共住房退出机制;租赁型公共住房以出售作为退出。     

投票市场发展、资本要素积累与产业结构升级——基于中国A股市场的实证研究

首先从要素流动角度就股票市场对产业结构优化升级的推动作用提出相关假设,并从中观和微观上实证检验中国A股市场是否存在推动产业结构优化升级的作用机制。实证结果表明,股票市场规模的扩大有效推动了三次产业和工业产业的结构优化升级,市场流动性的高低对产业结构优化升级存在负向效应,而城市化进程的加快及垂直专业化程度的提高可以降低该种负向效应;战略性新兴产业上市公司经营绩效显著,并在创业板市场上最具成长性,而且行业内资本集中度越低、市场风险越高,越能激励行业内企业上市。据此,在扩大股票市场规模、增强市场流动性、上市资源选择、创业板市场建设等方面提出了相应的政策建议。     

对租赁型公共住房退出机制的另类思考——基于典型国家和地区的经验

我国香港地区公屋退出收入及资产标准的设定看似宽松、有悖公平原则,但有其科学和合理之处。而美国在公共住房的管理中对物(即房屋)的管理仅仅是一个方面,对人(即公共住房的居住者)的管理也同样重要,为保持公共住房的居住质量,对租户的某些行为必须进行严格管理。从新加坡经验看,是否实行租赁型公共住房出售政策与地区公共住房供应总量之间存在一定的正相关关系。相比之下,上海目前廉租住房的退出收入及资产标准太过严格,需要进行更多的人性化思考。     

On the expansion of the market and the decline of the family

Over the past two hundred years, large, modern firms have tended to replace small, family businesses. In parallel, the family has declined as a social institution. We suggest that these developments are interrelated. Because information of cheating in market transactions spreads only gradually in large markets, the reputation of the family firm could support contractual performance only in small, traditional markets. As markets grew in size, this reputational mechanism could no longer operate. The small, family firm was then replaced by the large, modern firm. This transition led to a decrease in the importance of the family.      

Has the Youth Labor Market in Japan Changed? An Event History Analysis Approach

Abstract: This paper examines whether the Japanese youth labor market has become more unstable, particularly since the 1990s. To address this problem, I suggest that we consider the transition rate of job exit to be the benchmark of instability in the labor market and focus on workers' career histories until they reach the age of 34 years. This paper presents six hypotheses that explain the instability of the youth labor market as follows: the total increase in the job-exit transition rate, the higher risk of job exit for provisional workers, the increase in the number of provisional workers, the increasing transition rate for provisional workers and stable regular workers, the impact of firm size, and the impact of the collapse of the bubble economy. I present the summary statistics of job exit rates and the results of the Cox partial likelihood estimation models. A conspicuous phenomenon of the 1990s entailed an increasing number of provisional workers who ran a higher risk of job exits compared to regular workers. However, the job exit transition rates are generally stable. Moreover, the transition rates for regular female workers have decreased since the 1980s due to the increasing realization of gender equality in society. Although partial likelihood estimation states that firm size and the type of officer concerned (public/private) had significant effects on the transition rates, their effect did not intensify after the collapse of the bubble economy. In sum, the evidence that the Japanese youth labor market changed in the 1990s is limited.     

上海绿色电力机制实施效果评价

上海是我国最早实施绿色电力机制的城市之一。但现行的自愿认购机制实施效果不佳,大部分绿电没有得到认购,大量绿色电力不能通过现有机制得到消费,造成可再生能源产业的良性发展缺乏动力。     

Exits from Self-Employment: Is There a Native-Immigrant Difference in Sweden?1

It is well established that non-western immigrants in Sweden are more likely to be self-employed than natives. Whether there is also a difference in the exit rate out of self-employment remains an unexplored question. Using panel data for the period 1998–2002, this study analyzes the exit rates by looking at all exits, and also at exits to different labor market states. We find that the exit rate is about 7% points higher among non-western immigrants than among natives and exits to unemployment is 14% points higher. Decomposing these differences, we find that differences in industry and earlier labor market status are important explanatory factors.