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Research On Information Supervision System Of Equity Crowdfunding In China

Posted on:2018-03-07Degree:MasterType:Thesis
Country:ChinaCandidate:J P LvFull Text:PDF
GTID:2336330515471255Subject:Science of Law
Abstract/Summary:PDF Full Text Request
Equity crowdfunding is a product of the combination of Internet information technology and finance,equity crowdfunding to produce a profound change in the structure of the financial market,but also on the traditional legal system of regulatory challenges.It is the focus of the research on the construction of the legal supervision system of equity crowdfundingof shares,but the existing research has failed to put forward the constructive regulatory measures for the information asymmetry risk arising from equity crowdfunding.In view of this,this paper focuses on the information supervision system of equity crowdfunding of the stock market,with the correction of the information asymmetry of equity crowdfunding of shares as the main line,and gradually launches the research on the information supervision of the equity crowdfunding.In addition to the introduction and conclusion,this paper is divided into four parts to improve the information supervision system of China's equity crowdfunding.The first is the research on equity crowdfunding information supervision system the basic definition and theoretical basis of the information supervision.Equity crowdfunding refers to the start-up Small and micro businesses through the Internet platform to raise public equity financing projects published online,with equity as a kind of new way of financing price to the public to raise funds.It is highly dependent on information relying on the Internet,to complete the financing process and many other features.As the object of supervision,equity crowdfunding information refers to all kinds of data provide decision-making basis for equity crowdfunding market set in the transaction,including?financing information,transaction information and other types of asymmetry and characteristics of migration etc.Equity crowdfundingof the congregation to raise the regulatory system of information,the exercise of information is the regulatory authority of the Commission,the Internet Banking Association and local financial regulators.The contents of supervision is to equity crowdfunding market information disclosure in the delivery of a series of behavior.Usually use the means of supervision including information disclosure,information sharing and so on.According to the theory of government is necessary to equity crowdfunding supervision information,equity crowdfunding problems of asymmetric information economics theory,the market mechanism cannot to properly resolve,supervision of government intervention,implementation of law fairness and efficiency value to government information supervision.Secondly,it analyzes the current situation of equity crowdfunding information supervision system.The current equity crowdfunding regulatory legislation,although related to equity crowdfunding information and regulatory agencies to determine the distribution function,information disclosure system and information sharing mechanism can be found.But through the normative analysis,equity crowdfunding information supervision supervision the inter agency function configuration is not reasonable,lack of coordination mechanism of information disclosure system fuzzy;a series of problems still need to implement the information sharing mechanism and information service institutions lack of regulatory system.Again for the extraterritorial experience of reference.The author selects equity crowdfunding the regulatory legislation is more mature in the United Kingdom and the United States,the two related legislation in the selection and allocation of regulatory functions,the establishment of information disclosure system and other aspects of the study.Summed up the current regulatory framework should be based on the rational allocation of regulatory functions,and the construction of the information disclosure system to adapt to equity crowdfunding and other two aspects can be used for reference in China's advanced experience.Finally,as the conclusion of the paper,the specific scheme is given to optimize China's equity crowdfunding raise regulatory system information.This part puts forward the optimization,equity crowdfunding shareholding system of information supervision system should follow two principles of moderation and differentiation.From the view of information put forward to optimize China's equity crowdfunding regulatory system information should include:Reasonable allocation of equity crowdfunding to raise information regulatory functions,focusing on coordination between regulatory agencies.The system of information disclosure equity crowdfunding is reconstructed,the contents,standards and forms of information disclosure are defined,and the establishment of information disclosure system is explored.Construction of information sharing mechanism to achieve the sharing of information between equity crowdfunding regulators,market players.Finally,it is to improve the regulatory system of information service institutions,including the improvement of the legal system of credit,the introduction of the regulatory system to regulate the information intermediary...
Keywords/Search Tags:Equity crowdfunding, Asymmetry information, market mechanisms, Information supervision, System optimization
PDF Full Text Request
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