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论文编号：	5595
作者编号：	2120112599
上传时间：	2013/6/20 11:17:43
中文题目：	“新三板”背景下天交所挂牌条件调整的研究
英文题目：	The study of listing condition adjustment of Tianjin Equity Exchange on the background of National Equities Exchange and Quotations
指导老师：	齐岳
中文关键字：	新三板；天交所；挂牌条件
英文关键字：	National Equities Exchange and Quotations; Tianjin Equity Exchange; listing conditions
中文摘要：	被称为“新三板”的全国中小企业股份转让系统在北京正式揭牌。对于中国资本市场来说，这无疑是一个巨大的促进。人们更加关注中国的场外交易市场。更多的企业，特别是中小企业也认识到了我们除了主板市场之外还有另外一条股权融资渠道。与此同时，同为中国场外交易市场领跑者的天交所因此面临着挑战也迎来了机遇。天交所若想在激烈的场外交易市场竞争中继续自己的领先地位并实现自己更大的价值，就要与其他股票交易市场的交易条件进行比较，特别是与具有相似功能的“新三板”进行比较，进而针对市场环境并结合企业特点，对包括挂牌指标和板块设置的挂牌条件进行调整，使得整个挂牌条件更符合天交所致力于服务中小微企业的宗旨，为更多急需资金支持和规范运营管理的成长性企业提供发展的动力。在对相关指标进行调整之后，为了使市场保持稳定的态势，也为了让市场继续高效平稳运行，我们还要对相应的监管制度和绩效考核制度等辅助制度进行调整，以适应挂牌条件调整后的要求。在挂牌条件及辅助制度进行调整后，天交所将会拥有新的竞争优势。利用这个优势，天交所可以加强宣传，筛选并培育优秀企业，更充分利用机构资源，从而使得更多、更好的企业能够在天交所进行挂牌交易；有更多的企业通过天交所这个平台满足自身发展的需求，实现了自身的发展壮大；有更多的投资者在助力企业发展的同时分享到了企业成长的收益。
英文摘要：	National Equities Exchange and Quotations is founded in Beijing. For China's capital market, that is undoubtedly a huge promotion. People pay more attention to China's OTC market. More enterprises, especially SMEs recognize that in addition to the motherboard market, there is another equity financing channels. At the same time, one of the OTC market leaders in China, Tianjin Equity Exchange, therefore facing serious challenges, but also ushered in an opportunity. If Tianjin Equity Exchange hope to continue its leading position in the fierce competition in the OTC market, and to achieve greater value, it is necessary to compare with the other capital markets on the listing conditions, especially compare with the National Equities Exchange and Quotations. According to the Market environment and the characteristics of enterprises and Tianjin Equity Exchange itself, Tianjin Equity Exchange should adjust the listing conditions, making the Tianjin Equity Exchange can provide development for more growth enterprises. After adjusting for the relevant indicators, we need regulatory system and performance appraisal system to be adjusted to comply with the requirements of the conditions listed adjusted. In the listing conditions and auxiliary system adjusted, the Tianjin Equity Exchange will have a new competitive advantage. The advantage can make Tianjin Equity Exchange step up publicity, screening and nurture outstanding enterprises, and making fuller use of institutional resources. So that more and better enterprise developed and achieve its growth, more investors to help enterprises development at the same time to share the revenue growth of the enterprise, making China's capital market developed with the help of Tianjin Equity Exchange.
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