Legal Regulatory Issue Of Growth Enterprise Market

Based on the legal and economic theory with a focus on the literature of jurisprudence, securities regulation and information disclosure, and by incorporating the research findings on the Western Growth Enterprise Market, this dissertation employs comprehensive methodologies, such as comparative, empirical, the dynamic analysis and combined analysis of the theory and practice, to provide a systematic and thorough discussion on legal regulatory issue of Growth Enterprise Market (GEM) , to put forward some viable proposals in an attempt to contribute to the theoretical buildup for the improvement of the legal regulatory system of China's GEM, and to provide some concrete and effective measures for the healthy development of China's securities market.This dissertation comprises five chapters.Chapter one probes into the connotation and characteristics of GEM, introduces the history of GEM in the world and the practice of its formation in China, and provides my opinions on the discussions of China's GEM.Chapter two inquires into inevitability and moderation of regulation of GEM. Basing on the theory of Market failure and the connotation of regulation of GEM, the author demonstrates the particular reasons of failure of GEM and the inevitability of regulation of GEM. Moreover, the author elaborates the moderation of regulation of GEM, analyzing the failure of regulation of GEM, as well as the legal cost.Chapter three constructs the theory frame of law system of regulation of GEM, including the essence, value and principle.Chapter four expounds a few important issues of law system of regulation of GEM, including the regulation model, legislation system of regulation, and objects of regulation, such as the share issuing and listing, trading, and company existing.Chapter five focuses on the information disclosure of GEM. The author analyzes the basic theory and the connotation of information disclosure, compares the information disclosure mechanisms among the major overseas GEM, elaborates the weakness of China's Main Board Market and the particular requirements of China's GEM, and makes proposals to improve the information disclosure mechanism of China's GEM.