| 基于多任务模型的证券交易所经营、监管激励失衡内在机理分析 |
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| 引用本文： | 曹 潇,张 瑜,张弓长,林 波.基于多任务模型的证券交易所经营、监管激励失衡内在机理分析[J].河北科技大学学报,2009,30(3):279-284. |
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| 作者姓名： | 曹 潇 张 瑜 张弓长 林 波 |
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| 作者单位： | 1. 西北工业大学经济研究中心,陕西西安,710072
2. 河北科技大学高等教育研究所,河北石家庄,050018 |
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| 摘 要： | 借鉴HOLMSTROM和MILGROM的分析框架,以中国证券交易所为对象,构建了一个基于激励契约的多任务模型,旨在考察中国证券交易所经营与监管激励失衡的内在成因及其协调对策。研究表明,交易所经营与监管任务之间的互替关系及其各自可观测性的不同,是引致其经营与监管激励失衡的重要原因。
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| 关 键 词： | 证券交易所 经营 监管 |
| 收稿时间： | 2009/3/17 0:00:00 |
| 修稿时间： | 2009/4/3 0:00:00 |
Analysis of supervisory incentive of stock exchanges in China:Distribution of supervisory power between government and stock exchanges |
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| CAO Xiao,ZHANG Yu,ZHANG Gong-chang and LIN Bo.Analysis of supervisory incentive of stock exchanges in China:Distribution of supervisory power between government and stock exchanges[J].Journal of Hebei University of Science and Technology,2009,30(3):279-284. |
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| Authors: | CAO Xiao ZHANG Yu ZHANG Gong-chang and LIN Bo |
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| Institution: | CAO Xiao1,ZHANG Yu2,ZHANG Gong-chang1,LIN Bo1 |
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| Abstract: | With HOLMSTROM and MILGROM,a multi-task model was introduced based on incentive contract.The model shows that the exchange of management and supervision of stock exchenges and the differences in their observability are the main causes for management and supervision incentive imbalance. |
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| Keywords: | stock exchanges operating supervisory |
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