退市制度

中国上市公司退市制度的发展及其影响分析

Analysis of the Delisting Rules and its Effect on the Listed Company of China

其中，以特别处理（specialtreatment）机制为核心的过渡式退市制度设计，是我国制度背景下的资本市场重要制度创新之一。

Keeping special treatment ( ST ) mechanism as a core , the transition withdrawal mechanism is one of the most important designs in capital market under the China institutional background .

另外，退市制度会通过其带有歧视性质的ST标识使得投资者产生偏见进而影响至投资者决策。

In addition , Delisting system would make investors have some bias as to affect the decision-making of investors through its discriminatory " ST " .

本章通过实验证实（1）我国退市制度中的ST标识确实是造成了投资者对ST公司的偏见，并且这种偏见是普遍、稳固存在的。

In our study , we have found : ( 1 ) the " ST " of the delisting system indeed causes investors ' prejudice to ST companies , which is common and stable .

第二章，主要介绍了海外市场的退市制度。

The second chapter mainly introduces the overseas market retreating system .

第一部分是创业板市场退市制度概述。

The first part is the overview of gem delisted system .

第四部分主要致力于我国创业板市场退市制度的完善。

Section 4 dedicates in perfecting the delisting system in China .

除此以外重点阐述了深交所创业板市场退市制度的现行全部内容。

Besides emphatically expounds the current gem delisted system all content .

论中国股市的退市制度

On the system of withdrawal from stock market in China

上市公司退市制度研究

The Study on De listing of the Listing Company

创业板退市制度是创业板市场的有机组成部分。

The Growth Enterprise Delisting System is an organic part of the GEM market .

第三章，主要介绍了中国上市公司退市制度的历史演进。

The third chapter mainly introduces Chinese delisting system of listed company of historical evolution .

但是，这样的退市制度并不完善，其中依旧存在一些看似细致，实际上却并不合理的地方。

However , such delisting system is not perfect , which still has unreasonable parts .

第二部分是其他国家和地区创业板市场退市制度比较研究。

The second part is the other countries and regions gem market delisted system comparative study .

首先回顾了中国股市退市制度建立的过程。

The first , Reviews the establishing process of the delisting mechanisms in Chinese stock market ;

因此，退市制度的完善对当下的中国证券市场来说是非常重要的。

Therefore , the perfect delisting system to the present Chinese stock market is very important .

与国外退出机制相比，我国退市制度发展时间短、速度快。

Compared with the foreign withdrawal mechanism , it develops time short and fast in China .

二是完善退市制度；

Perfect the withdrawing system ;

文章分三部分：第一章分析了退市制度的基本概念，介绍了国外的退市制度的相关规定，对我国现行的退市制度作了评价；

It consists of 3 chapters , Chapter I introduces some basic concepts about the de-listing system .

严格执行创业板退市制度有益于我国创业板的发展。

To withdraw from the market system in our country is beneficial to the development of the gem .

第四部分是对深交所创业板市场的退市制度建设给出的可行性建议。

The fourth part is to gem Shenzhen market delisted system construction is the construction of the feasible suggestion .

上市公司的退市制度是指通过法定程序将已经不符合上市条件的公司退出证券市场的法律行为。

Delisting system means the legal act de-listing the public corporation which has lost qualification in the stock market .

在这个部分，本文从投资者保护的视角切入，研究退市制度设计的有效性。

In this part , from the perspective of investor protection , we analyze the efficiency of the withdrawal mechanism .

作为证券市场的重要法律，上市公司的退市制度并没有在中国的证券市场得到足够的重视。

As the stock market listed company law , the withdrawal system not in Chinese securities market got enough attention .

我国现行退市制度存在的缺陷主要是退市标准的界定过于模糊，操作性不强；

The shortcomings of Chinese delisting system of listed company mainly lie in the ambiguous definition of the standard and jurisdiction .

本章重点在不同创业板退市制度中加以比较得出各个市场成功与失败的原因所在。

This chapter focuses on different gem delisted system in each market compared to the success and failure of the reason .

中国股市退市制度的建立和完善是一个长期的过程。

It will be a long-term process of establishment and improment of the system of withdrawal from stock market in China .

第二章逐一分析了退市制度中的退市条件、暂停和恢复上市规则和建立准退市提示制度等核心内容；

Chapter II analyzes the condition of de-listing , the rules of pause and comeback and the indication system of semi-delisting .

上市公司退市制度是一个完整证券市场法律体系的重要组成部分。

Goes on the market the withdraw law system of listed company is the important constituent of a complete stock market legal framework .

要加强商品及其商品质量的监督管理，健全和完善商品入市、退市制度。

Grass-roots staff should intensity the supervision of commodities and their quality , perfect the system of commodities entering and quitting from the market .