Study Based On The Reputation Of The Regulator The Securities Regulatory Perspective

Applying the theory reputation, this paper discusses the question of the effectiveness of securities regulation. The article points out: on the one hand, the regulators reputation can improve the effectiveness of supervision; On the other hand, how to monitor the conduct of the regulators and to improve the credibility of the regulator is the reason, which can not be ignored to monitor the effectiveness. Thus, the reputation of the securities regulatory authorities become an important aspect of securities regulation. In this paper, we analyze the Supervision status of China's securities market. The regulatory authorities lack motivation to establish the credibility, is the important reasons for the coexistence of China's securities market in the inefficient operation.The following is the basic framework of the structure of this article:The chapter one is the introduction of the paper. It includes the background, value, Main content and research method of the essay. This part also introduces Article ideas, as well as a description of institutional arrangements.The chapter two reviews the theory of securities regulation. First, it defines the concept of securities regulation. And then sum up the current securities regulatory status of the theoretical study. From the overview, the literature is still relatively rare to challenge the assumption that "full credibility of the regulator (the credibility)". Thus, we study the effectiveness of securities regulation from perspective of the regulator reputation.The chapter three is the theoretical analysis on the reputation. First of all, we introduce the theory of reputation. Then, combined with the theory of reputation, this part discusses reputation of the securities regulator. Finally, in a game model, we discuss the relationship between regulator reputation and effectiveness of securities regulation.The chapter four is empirical part. It uses the empirical data on China's stock market to test the effectiveness of securities regulation, to test how the regulator's reputation to influence the validity of regulation.The Chapter five is the concluding part. At the basis of the above analysis, also the characteristics of China's banking sector, we find out the reasons that effect the regulator's reputation, put forward some suggestion to improve the regulator's reputation and the validity of regulation.