摘 要股票公开发行审核制度是维持股票市场正常运转的基本制度，是验证股票市场能否实现良好资源配置的关键。针对股票发行审核的合理性，既对投资者的信心构成直接影响，又关系到整个股票市场的协调性和可持续发展能力。本文首先描述了我国股票发行审核制度发展变迁的各阶段，分析了各阶段审核制度的基本特征和不足之处。随着经济市场的迅速成长，我国审核制度正朝着注册制方向改革。接着介绍了注册制的定义，分析了注册制改革的必要性，并且提出了改革中的一些注意事项与方法。最后提出从核准制到注册制的转变需要一个漫长的过渡过程，要在股票发行的不同阶段和股票市场的不同领域，从多维度进行渐进式改革，寻找适合中国国情的注册制。保证证券市场乃至整个经济资本市场的可持续发展。86393

毕业论文关键字：股票公开发行；发行审核制度；注册制；核准制

The Historical Evolution of the Stock Audit System In China 

Abstract   Stock public audit system is a basic system, maintain the normal operation of the stock market is the key to good and verify the realization of the rights of the stock market resource allocation。 In view of the rationality of the stock issuance examination, both directly influence to the confidence of investors, and relates to the coordination and sustainable development of the whole stock market。 This paper first describes the stock issuance examination system in our country the stages of development, analyzes the basic characteristics and audit system in different stages of the shortcomings。 With rapid growth of the market economy, our country's audit system are reform in the direction of registration system。 Then this paper introduces the definition of registration system, analyzes the necessity of registration system reform, and puts forward the methods and some matters needing attention in the reform。 Finally put forward the change from a system of authorization to register need a long transition process, in the different stages of share issuance and the different areas of the stock market, from a multidimensional incremental reform, to find a suitable registration system of China's national conditions。 Ensure the securities market and the whole economy the sustainable development of capital market。

Keywords: Initial Public Offering; Issue Audit System; Registration System; Approval System

目录

0 引言 1

1股票发行制度概述 2

1。1相关概念 2

1。2股票发行制度的演变 2

2 我国股票发行审核制度之“审批制” 2

2。1审批制的定义 3

2。2审批制的历史演变 3

2。2。1审批制之“额度管理”阶段 3

2。2。2审批制之“指标管理”阶段 3

2。3审批制的评价 4

3 我国股票发行审核制度之“核准制” 5

3。1核准制的定义 5

3。2核准制的历史演变 5

3。2。1核准制之“通道制”阶段 5

3。2。2核准制之“保荐制”阶段 6

3。2。3核准制之“深化改革”阶段 7

3。3核准制的评价