Study On Our Country’s Regulation Efficiency Of The Stock Market

The stock market has a history of nearly 25 years,it has made great achievements during the past years. But the development is still not mature enough,the regulatory efficiency is relatively low, for example: the law is not perfect,the regulatory system is not complete; the degree of punishes cases is light; the administrative interference is too heavy, and so on.The stock market is the most important part. of the financial markets. Securities regulatory institution is a general series of system,which is legislated according to the country’s basic laws and the principle to controlling the market risk, protecting the legal right of participator, reducing systemic risk, prometing the growth of national economy,so the government and its regulatory bureau can eliminate securities market failure through it. At the same time,our stock market has only nearly 25 years, the development is not mature enough,and the regulatory efficiency is relatively low. It is of significance in reality to analyze the cause formation of the low efficiency in stock market,The paper learns a lot of other’s research results, according to the Intermediate goal and fundamental goal and then puts forward the index of the regulation efficiency, following: the regulation efficiency of issuing shares; the law enforcement efficiency of regulators; the economic efficiency of stock market. The results of the empirical analysis are as follows: the regulatory efficiency of stock issuing is low, the law enforcement efficiency is higher,the stock market did promoted the development of the national economy,but the stock price volatility is larger,policy city phenomenon is more serious,so the stock market is not mature enough, regulatory efficiency is low.This article has five parts, Each chapter was writed around the regulation efficiency of stock market tightly. First of all, it pointes out that the recent stock market regulation and the problems existing in the stock market; Second, it puts forward the index of the regulation efficiency; Third, using the empirical analysis method to establish model to inspect the regulatory efficiency of the stock market. Through empirical analysis,we get that regulatory efficiency of the stock market is low,it needs to be further improved Finally,on the basic of the results of empirical analysis,combining with the actual situation in our country,the paper puts forward the policy suggestions to improve the regulation efficiency of Chinese stock market.