第
29
卷
摇
第
4
期
张继德
,
王嘉琦
:
终止上市制度变化
、
问题及对策研究
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[
4
]
Lew N
,
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Delisting in Australia
[
Z
]
. Working Paper
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[
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]
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:
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? [
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]
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,
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[
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]
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[
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]
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,
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:
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[
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]
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,
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[
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]
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,
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]
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,
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[
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]
张继德
.
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[
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]
.
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:
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[
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]
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.
海外创业板市场退市制度研究
[
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]
.
北
京大学学报
:
哲学社会科学版
,
2001
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):
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[
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]
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.
对完
善我国上市公司市场退出制度的思考
[
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]
椅
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学中国金融研究中心
.
中国风险投资与资本市场会议论
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成都
:
西南财经大学中国金融研究中心
,
2004
:
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]
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刘艳琴
.
上市公司退市制度实施效果的
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[
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]
.
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,
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[
13
]
任婷婷
.
我国
A
股退市财务标准之完善
———
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[
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]
.
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,
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[
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]
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.
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[
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.
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.
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]
.
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:
华东政法大学
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]
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郑丽娜
.
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]
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[
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]
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,
孙永波
,
纪佃波
.
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效性影响因素实证研究
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]
.
管理世界
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[
18
]
张继德
.
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内部控制体系研究
[
J
]
.
会计研究
,
2013
(
6
):
69 - 74.
Research on the Changes
,
Problems and Countermeasures of
Terminating the Listing of Stocks Mechanism
ZHANG Jide
1,3
& WANG Jiaqi
2
(
1. Business School
,
Beijing Technology and Business University
,
Beijing 100029
,
China
;
2. Research Institute
,
China Aerospace Science and Industry Corporation
,
Beijing 100080
,
China
;
3. Post鄄doctoral Station
,
Dongbei University of Finance and Economics
,
Dalian
,
Liaoning 116025
,
China
)
Abstract
: In order to solve the long鄄existing problem of “delisting冶 in the stock market, this paper, after SZSE (Shenzhen
Stock Exchange) and SSE ( Shanghai Stock Exchange) have just released a new mechanism of suspending and terminating the
listing of stocks, studies the new delisting mechanism of SZSE. First, this paper compares the differences between the new and
old mechanisms in terminating the listing of stocks. Second, this paper takes the *ST stocks as of April 10, 2013 in SZSE as
samples, supposing that the new mechanism has been implemented since January 1, 2008, and finds the binding effect of the new
delisting mechanism from 2008 to 2011. The study finds the binding effect of the new delisting mechanism have been greatly im鄄
proved, while some problems are found existing in the new delisting mechanism. Finally, this paper proposes the improvement
strategies for regulators in the new situation.
Key Words
: ST stocks; terminating the listing of stocks; delisting system
(
本文责编
摇
王沈南
)
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