Research On Investor Protection Mechanism Based On The Registration System Of Science And Technology Innovation Board

The implementation of science and technology innovation board is an important measure of China’s capital market reform.The inclusiveness and flexibility of science and technology innovation board provides financing channels for new technology enterprises.However,investors will face greater risks: the more inclusive conditions,certain particularity,differences from the other board,and small investors.Therefore,the investor protection system is the fundamental guarantee for science and technology innovation board.This paper takes the investors’ rights and interests as the research object,combines the characteristics of the science and technology innovation board,and based on the game analysis,focuses on the issues,information disclosure system and the supervision system related to investor protection,and from three aspects to explore the shortcomings of investor protection,and finally put forward the policy recommendations to improve the protection of investors’ rights.Around the above topics,this paper is divided into six parts:The first part mainly introduces the writing background,significance,ideas and methods of this paper,and through combing and summarizing the relevant literature at home and abroad,it is concluded that the current literature research generally believes that the protection of investors’ rights is of great significance to the market.The second part mainly introduces the theoretical basis of this paper.The third part establishes the function expressions of listed companies,regulators and investors.Through the game relationship between regulators and listed companies,it analyzes the impact of their behavior choices on investors’ rights,and judges the important factors that can affect the degree of protection of investors’ rights under the balanced state.Finally,the author concludes that information disclosure system,supervision system and investor quality all play an important role in investor protection.The fourth part mainly discusses the existing scheme design of investor protection in the scientific and technological innovation board system.Based on the analysis of the third part,from three perspectives respectively,we know that the current state has consciously created a healthier investment environment for investors.The fifth part and the sixth part respectively discuss the problems and suggestions of investor protection,explore the problems still existing in investor quality,information disclosure system and supervision system,and through the analysis and research of a large number of domestic and foreign literature,sort out the institutional arrangement of the overseas market matching the current market,and put forward the relevant departments Relevant policy suggestions on the protection of investors’ rights.