| Recently with the exposure of economic scandals, the protection of small and middle-sized has been the general concern of the community. Strengthen the protection of s small and middle-sized can make good funding sources and a sustainable development for companies. At present, the academic researches in the field of investor protection mostly explore the different legal systems in a country's capital market development in the legal perspective. Although the laws can explain the reasons of different developments of capital markers well, its usefulness in practice seems feeble.Based on the predecessors, from the perspective of corporation and the implementation of institution, and considered on both equity and efficiency, this paper attempts to construct an index system in one society background. And then it evaluates the protection of investors in use of empowering method, as well as testing the index system.This paper uses the qualitative and quantitative analysis. First, the related theories of protection of small and middle-sized investors are clearified; Second, the index system is constructed; Third, by virtue of the index system the samples can be valuated.From the above analysis, we get following major conclusions:First, through the analysis,the index system contains returns from the investment, company quality, the quality of information disclosure, investor relations management, tunnel behavior, ownership structure, enforcing the law and so on seven indicators; Second, the evaluation results showed that the protection of small and middle investors is in a middle-low level; Third, it is found that the evaluation results is positive with the earnings per share and the return on equity; In addition, it's also found that the quality of information disclosure and tunnel behavior have negative correlation.The protection of mall and middle-sized investor is a vast field of research, much more efforts are needed for the further research, this article can provide some references. |
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