Power Analysis Of Institutional Changing Of The Assurance System

Regarding as the importance of issuance system to share market, I take the share issuance system as the object of my thesis. I focus on the empirical studies on what changes the share issuance system. My study is on the basis of Institutional Changing Theory under the background of our country's economical reformation. The power of the institutional changing is the interaction of the institutional supplier and the demander, who ask for their own maximal of behalf according to their function of utility. The process is, if the conditions of supplier can't be balancing or the demander can't be satisfying, the institution has the passion of being changed until it does. But when the economical advancing tends to change some element of the original balance, the institution needs to be changed again. By the above law, the supplier (central government) and the demander (local government and other groups) of issuance system the issuance system push the institutional changing together. The issuance system experiences examination and approval system at first, when the security market born, and registration system, when we are experiencing now, from zero. At last, on the empirical analysis of other registered system country, the thesis takes the prospect to the registration system in China. Besides the ordinary conditions which for the other country to apply the registration system, I analysis the special qualifications for China.