A Study On Western Capital Market Regulation Theory And Its Enlightenment To China's Capital Markets

The committee on capital markets regulation theory research and its enlightenment to China's capital market, mainly is aims at the 2008 economic crisis after the outbreak of the capital market, supervision of the situation. Economic crisis that lack of capital market supervision, accordingly, the western countries are also begin to pay close attention to the healthy development of the capital market, and introduced some capital market regulation of new policies, the hope can maintain good operation of capital market. China's capital market, despite its regulatory features, but in the internationalization of today, still will be affected by international influence of national economy, therefore, China should also actively improving capital market regulation for the entire market, provide a stable and good operation environment of mature.The first part of this introduction, mainly introduced this topic research meaning and research status of the capital market, supervision mostly produced by the dominance of the market, the behavior or results derived policy, and the corresponding regulation theory is relatively backward. Due to the capital market is changing, the corresponding regulation theory also changed, so far, not a system of regulatory theory can be perfectly. Especially after economic crisis has experienced the capital market, we need to change the regulatory policies into the stable development track.The second part of the capital market concept definition, introduces the main ways of capital market supervision and contradictions in the further development, introduces in detail the capital market, supervision theory groundwork. This section summarizes the present regulation of capital market in the world of the four main ways: system approach, function, ways and approaches, also usdc detailed analysis of the four regulatory approach their characteristics and advantages. This paper introduces four kinds of regulatory approach, according to data obtained a form, make the four characteristics of regulatory approach.The third part is the main body part, detailed introduces the theory of the regulatory capital market. The committee on capital markets regulation theory from the development process of this part is divided into three parts, namely the classical theory of regulation, the early development of representative in the middle of the latest development of innovation theory and the theory of capital market regulation. The committee on capital markets regulation of classical theory can be traced back to the early formation of capital market is not mature regulatory theory and the first regulatory law of the bubble. The committee on capital markets regulation theory include the mid-term development very much, therefore, the theory and the theory of demand, according to the regulation of law of effect theory and discusses the theory into three parts. The committee on capital markets regulation of demand theory including financial fragility hypothesis, public interests and supervision of the risk inherent demand hypothesis, etc. The committee on capital markets regulation effect theory includes control theory, control theory of supply and demand of rent-seeking theories and controls capture, The committee on capital markets regulation of legal theory mainly introduced in the capital market, supervision law plays a special role in the process of legal supervision, and through the mandatory and reliability, etc. The committee on capital markets regulation theory, based on the new development is mainly based on the new behavioral economics, people's behavior factors of market regulation, considering from another Angle, also can saying is to psychological factors in the capital market, supervision, and more conducive to solve practical problems of the capital market, supervision.The committee on capital markets regulation in introduced the situation of the development process and regulatory theory, through the introduction of the main part iv of several typical western countries of the capital market, supervision mode to further understanding of capital market operation and supervision. This section describes the main functions of the capital market, supervision ways to overall supervision mode, the French capital market supervision ways of British mode and to oversee usdc "way of Australian mode.The fifth part is another key section of the article mainly introduced by system, ways of China's capital market supervision regulation pattern. Around the development of China's capital market situation and supervision, and analyzed the macro environment of China's capital market, and puts forward the principle of China's capital market supervision, and based on these principles and stated above theory etc, listed in Chinese capital market supervision of Suggestions and opinions. In Chinese capital market supervision framework of thinking is the essence of this article, the hope can through the analysis, can give China's capital market supervision into some fresh thinking mode, and the steady development of China's capital market, a bit.The final part of the paper is to summarize systematically summarized, the achievements and the conclusion, and the opinions of articles in reality application value made an objective evaluation.The paper summarizes and overview of the development of capital market regulation theory with the main representative theory, and further introduced new capital market regulation theory. Western countries from understanding the regulatory capital market failure experience and draws its successful experiences for the two aspects of China's capital market supervision, and provide some Suggestions, and more according to the characteristic of China's capital market, providing with Chinese characteristics of capital market supervision Suggestions. This paper not only introduces in detail the classical theory of capital market, and also summarizes the regulation of capital market in the world of the four main ways supervision. In addition, the author also implement all the way through the countries, and various ways, a country can be more clearly see the implementation of various ways and means.