The Institutional Change Of Chinese Securities Issuing Supervision And Management: Theoretical Model And Performance Postmortem

Being the place where the social economy resources obtain the optimized disposition, it is obviously that the securities market has high status and importance in the market economy. This has already been proved by the vital role as West capitalist country stock market to the economical development. However, we also realized that the stock market is also a market full of asymmetrically information, and easy to be influenced by human's expectation and even mood. Therefore, the securities market malfunctions existence universally. As a result of the securities'characteristic on value and price, the securities market malfunctions often more rapidly to the general economical domain market, as well as more widespread influence to the economy. In the history the most typical example is, each time the US securities market fall, it suddenly affects greatly to American and even the world economy. Take this as the warning, the various countries generally take essential supervising and managing to stock market. At present, as to the necessity of securities supervising and managing, there's already no longer more disputes neither in the theorists nor in practice. In particular the analysis and the research to the traditional control economic theory by the theorists, explained the reason why securities supervising and managing as the rationale. But theoretically, take the securities supervising and managing reason as the foundation, to analyze and...