摘要：近年来，我国证券市场面临很多问题，证券市场法律法规不健全、运作不规范，投资者不够成熟，中小投资者维权意识薄弱，上市公司缺乏竞争力，盈利能力不强等，注册制改革在此环境中产生。本文立足于我国注册制改革的现状，探讨了注册制改革的必要性，特别是当下核准制存在的的问题，探究了注册制改革的影响，最后分析了未来注册制改良的策略以及方向，完善注册制的一系列配套措施，加强市场监督机制与事后处罚力度，建立健全法制保障机制。64643

毕业论文关键词：新股发行体制，核准制，注册制

Abstract:In recent years, our country faces a lot of problems in the securities market,securities market laws and regulations is imperfect, operation is not standard, small and medium-sized investors are not mature, the consciousness of maintaining the rights is not enough, which is difficult for them to protect their rights, lack of competitiveness for those listed companies are lacking in competitiveness,furthermore,profit ability is not strong, thus registration system reform in this environment arises at the historic moment. Based on our present situation of registration system reform, this article discusses the necessity and urgency of registration system reform, especially involved with the problems of the present authorization and registration system to the impact of the capital market in China, and finally analyzed the solution and direction of future registration system reform, perfect the registration system supporting measures, strengthen market supervision mechanism and penalties, establish a sound legal system safeguard mechanism.

Keywords: new issues system, authorization and registration system

1  引言 3

2  注册制概述 3

2.1  注册制概念 3

2.2  注册制发展历程 3

3  现行核准制的弊端 4

3.1  导致权力寻租，滋生腐败 4

3.2  监管层的公信力被大大削弱 5

3.3  干扰了股票市场的功能 5

4  注册制对A股市场的影响 6

4.1  对投资人的影响 6

4.2  推进股市真正市场化 6

4.3  进一步激发市场活力 7

5  实行股票注册制改革的几点建议 8

5.1  注册制改革需要放开上市节奏 8

5.2  注册制改革需要实现三个平衡 8

5.3  配套的相关法律法规必须完善且严格执行 8

5.4  从创业板过渡开始 9

结论 11

参考文献 12

致谢 13

1  引言

2013年11月15日发表的十八届三中全会《中央关于全面深化改革若干重大问题的决定》，提出要"推进注册制改革”。2014年2月7日国务院批准《注册资本登记制度改革方案》，股票发行新体制即将呈现，注册制的改革有别于以前的核准制，在注册制之下审核机构只对注册文件进行形式审核，但是它又不单单是降低公司上市的难易程度，只是交给市场来决定，更好的发挥市场资源配置的作用[1]。论文网