Researches On Instauration And Risk Prevention Of Second-board Market Of Our Country

In 1990s,a bright feature in the international market is that numerous capital marketsset up stock market-second-board market,aimed at innovational company of middleand small scale. Emergence of the second-board market is not a occasional and isolated phenomenon,in fact,it is necessity of the development of knowledge economy and the globality of economy. In our country,the development of capital market just has a short period of time,and its construction emphasis is mostly in Shenzhen and Shanghai securities businesses. With the development of socialist market economy,the present single market system reveals its limitation increasingly;it must be imperative under the situation to construct capital market system of different arrangement including the second-board market. So it has great theoretic and practical meaning to analyze and research the operational pattern of second-board market of our country.This paper illustrates the impersonal inevitability and possibility to set up the second-board market of our country by contrastive researches on its procreant reason,background and overseas primary operational patterns,and designs instauration pattern and market regulations of the second-board market of our country by the numbers. The primary contents are as follows:1. The paper expatiates the concept, characters and overseas developmental conditions of the second-board market in a systemic point of view,and puts forward the necessity and possibility to set up the second-board market of our country.2. The paper illustrates the choice of instauration pattern of the second-board market of our country by contrastive analysis of overseas primary operational patterns of the second-board market.3. Set out from the situation of our country,the paper constructs the market operational regulations of the second-board market in the mass and puts forward a little advice to the operational regulations of our second-board market.4. The paper puts forward some corresponding countermeasures to the possible risks in our second-board market by referring experience and lesson of risks management in overseas mature second-board market.The paper indicates that the second-board market is new and absolute market that is isolated from the main-board market;it is an important segment of the capital market,it will have great effect and far-reaching meaning to the development of our securities business.