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This article, from the environment factors that influence the choice of the mode of accounting supervision over the security market, after an analysis and assessment of the mode of accounting supervision over the American security market and the current situation in China, proposes a four-level mode of accounting supervision in China. 文章从影响证券市场会计监管模式选择的环境因素着手 ,通过对美国证券市场会计监管模式的分析与评价 ,并结合我国证券市场会计监管模式的现状 ,提出了构建四层次会计监管模式的设想。 As a resource allocation mean, security market leads the resource liquidation by pricing to realize the optimized allocation. Based on the historical development of America's security market, it is assumed that the competition mechanism and information asymmetry should accacnt for of the security market levelization,in which competition mechanism is the the major power to propel security market lexelization. 证券市场作为一种资源配置的手段,主要通过价格的导向作用来引导资源的流动,实现资源的优化配置。结合美国证券市场发展的历史分析,认为竞争机制和信息的不对称是推动证券市场多层次分化的主要因素,其中竞争机制是推动证券市场多层次分化持续的动因。 Based on the illustration of the born and evolution of US institutional investors and their involvement of corporate governance as the agents of individual investors,the writer here ensures the positive effects of the institutionalinvestors' involvement in corporate governance.The aim of institutional investors is to supervise instead of direct interference with the daily management of listed companies.The writer expects more active and effective role may the institutional investors play in the Chinese listed... Based on the illustration of the born and evolution of US institutional investors and their involvement of corporate governance as the agents of individual investors,the writer here ensures the positive effects of the institutionalinvestors' involvement in corporate governance.The aim of institutional investors is to supervise instead of direct interference with the daily management of listed companies.The writer expects more active and effective role may the institutional investors play in the Chinese listed companies'corporate governance. 通过美国证券市场中机构投资者(各类基金)的产生、发展及其作为股东在参与上市公司治理等问题上发挥的作用,从而肯定机构投资者参与上市公司治理的现实需要、有利条件和积极作用,为我们提供了可资借鉴的经验。在分析中国目前上市公司的特点的基础上,应着力探讨从立法和实践中为机构投资者参与中国上市公司治理创造有效的条件。
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