中美证券发行制度比较研究-郭明新

©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.(,,130012):,,,,:;;;:F830191:A:1003-7411(2005)05-0031-04,,,[1]:(SEC)SEC1934,19331934SEC,SEC,,,,,SEC,,SEC,,(NASD),,NASD,1934,SECNASD,,,:,,,,,,,,:,,,,,,,:2005-01-15:(1968-),,,,13©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.()[2],,,,1933,(),,:11,,,;21SEC,SEC,,SEC;SEC,,,,31SEC,,20,,():,,:,,;,,,,,,,,2000317,,,:,,;,,;,,:,,;;,;:,;,:,,,;,,,,:,;,,,;,,,,,,1933,,,1934,1982,,SFSK[3]S1S2S3SEC,S1,23©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.:;,,:,,,;,,,,:,,,,;,,,,,,S1F1,:,;;,,,,SEC,,,,,2004,,,,,,,,,,,,,19334(2),1982RegulationD,1990Rule144A,,,,,:SEC,,,,,,,,,,,,,,,,,,83,35%,,199273,,,,,,,,,,,33©1994-2010ChinaAcademicJournalElectronicPublishingHouse.Allrightsreserved.:[1]1[J].,2000,(6)1[2]1:[M].:,2000.[3]1[M].,20021AComparativeStudyofSecurityIssueSystembetweenChinaandtheU.S.GUOMing-xin(SchoolofNortheastAsiaStudies,JilinUniversity,Changchun,Jilin,130012,China)‘Abstract:SecuritiesissuesystemisthesystemofenteringsystemforonecountryintheCapitalmarket.TherearemanydifferencesinissuingsystembetweenChinaandAmericabecauseofthebackgroundofeconomyandtheinflu2enceofhistoricalconditions,aswellasthestructureofSecuritiesmarketandthediversityofdevelopmentstage.Inthisarticle,ItakethemethodofcomparisontocarryoutresearchforSecuritiesissuesystembetweenChinaandA2merica,inordertoobtainthefavorableenlightenmenttoimprovetheSecuritiesissuesysteminChina.KeyWords:Securities,Issuesystem,Comparison,Approval.43