摘要：上市公司质量的优劣直接影响着证券市场是否可以繁荣发展，而证券市场想要繁荣发展，也绝对离不开上市公司。两者是相互联系，密不可分的。但从我国已经在证券市场上市的公司来看，它们的质量普遍都偏低，长此以往影响了我国证券市场的发展。为了解决这一不利局面，我国证券监管部门提出了保荐人制度，这一制度起初在国外经常用于二板市场。保荐制度在我国证券市场发展的这些年，其优越性是毋庸置疑的，但是仍然有许多问题存在并等待更完善的解决。69013             

本文通过从保荐代表人制度及保荐代表人激励和约束机制的必要性的分析，来突出这一制度的重要性，并分析其中存在的问题，从激励与约束两方面来提出解决问题的观点。所以根据保荐代表人制度推行后产生的新情况、新变化、新问题，保荐代表人激励与约束机制进行不断的修改和完善，并且把激励与约束机制有效的结合，相互体现，才能在最大程度上发挥保荐代表人的有效性。

毕业论文关键字：保荐代表人；保荐人制度；激励；约束

Sponsor representative of the incentive and constraint mechanism

   Abstract: The quality of listed companies to a large extent decides the prosperity of the securities market, and the prosperity and development of the securities market is inseparable from the listed companies. Both are mutual connection, inseparable. But the quality of listed companies in the stock market in China is generally are low, in different extent influence the development of the securities market in China, in order to effectively solve the problem, China's securities regulator in order to change this unfavorable situation, in the main market in abroad is usually used to sponsor the second-board market system was introduced. But although the recommender system has its undoubted advantages, but its development in our country also exposed many problems in the process. 

   In this paper, from the sponsor representative system and the sponsor representative analysis of the necessity of incentive and constraint mechanism, to highlight the importance of the system, and analyzes the problems, from two aspects of incentive and constraint to put forward the idea to solve the problem. So according to the recommender system after pushing the new situation, new changes and new problems, and sponsor representatives to continually modify and perfect incentive and constraint mechanism, and the combination of effective incentive and constraint mechanism in the incentive constraints, pay attention to the incentive in the constraints, can maximizes the effectiveness of sponsor representative. 

   Key Words：Sponsor representative；Sponsor system；Encourage；Restrain

目  录

一、引言 1

    (一)选题背景与研究目的 1

1.选题背景 1

2.研究目的 1

(二)研究的主要内容、方法和重点 1

1.研究的主要内容 1

2.研究的方法 2

3.研究的重点 2

二、我国保荐代表人制度的概述 4

(一)保荐代表人制度的基本介绍 4

(二)我国保荐人制度的产生和发展  4

(三)激励与约束机制的必要性 5

三、保荐代表人的激励与约束机制存在的问题