证券市场零和博弈与监管有效性的法经济学分析

为避免股市赌场论,我国主流学界一直否认证券市场的零和博弈特点,只是强调证券市场对优化资源配置的良好属性。然而在现实生活中,在证券市场优化配置的理论框架下我们却无法回避为什么证券市场会存在内幕交易、虚假陈述、操纵市场等私利性行为,我们在现有理论框架下也无法解释为什么现有的监管制度不足以有效监管市场。基于学界与监管层在观点上并不接受证券市场为彼之所得为我之所失的零和博弈观点,因此我们的监管实践并不是根据零和博弈的特点对症下药,这是导致目前我国证券市场处于监管不足与监管过度两难境地的根本原因。为此,我们试图从证券市场博弈的零和性分析出发,对我国证券市场监管的制度诉求、有效监管的制约因素及制度选择的有效性在法经济学层面作番讨论,以期对我国证券监管的制度重塑提供相应的理论依据。     

论行政监管权与法治

行政监管制度在中国建立的十几年间,监管效果并不理想,市场经济和现代监管制度尚未完全建立,监管权力失灵已经开始显现,这种消极现象不可能通过市场经济自身的力量消除,必须遵循法治原则,通过法律对行政权力进行规制。     

清代地方政府市场干预行为探析——以广西地方官府为例

清代的广西地方官府在维护市场规则、统制经营、调控金融和公务采买等方面所采取的市场干预行为对当时广西的经济运行秩序产生了双重影响:既利于市场环境的改善,有助于经济平稳运行,也因违反市场规律而导致经济波动不稳,制约了地方经济的发展。     

市场经济视域下的社会公共诚信论略

诚信是高度社会分工的市场经济社会的伦理基础和必要条件,市场经济的发展与成熟为社会公共诚信机制的形成和完善提供坚实物质根基和强制性的法的保障。实践表明,二者是一种相辅相成、相得益彰的辩证关系。这就要求同时关注社会主义社会特有的诚信资源和市场经济法制建设,并着力理顺二者的关系,以推动经济和社会的共同发展。     

Ideology and the University

Ideology underpins recent transformations of British universities; it forms an unquestioned backdrop to policy‐making. The ideology at issue is a market‐based neo‐liberalism—accompanied by a doctrinaire private‐sector managerialism. Universities employing this ideology envision it as common sense. The ideology is thus not proselytised, but rather structures the vernacular of university speech. In reality it is a highly politicised ideology masquerading as a managerial reality. Its effect on universities has been profoundly destructive. The dignified public good of higher education has now become a huckstering marketised mechanism. What is so perplexing is the quiescence of universities. The ideology is so hegemonic that it appears exempt from criticism. University administrators are now quite unapologetic ideological functionaries and we need to relearn how to criticise those who manage us. Ultimately no ideology lasts, this present one will be supplanted, the question is what level of damage to civil and intellectual life will it inflict?     

Explanations of the Financial Meltdown and the Present Recession

The concern of this article is to locate the unfolding literature that seeks to explain the present financial crisis into three dimensions of contestability. The major areas of disagreements between various authors include: the role of government; the issues of whether the recession was unavoidable or whether it was inevitable; and the area of ideas and ideals and how economic ideas shaped and influenced the policy process. These explanations include the pragmatists and all that literature that had a time dimension of major actors trying to produce policies that aimed to stabilise the financial markets. These policy makers did not have the benefit of hindsight but were concerned that the financial markets were so fragile that there was no other choice but for governments to intervene. By contrast, there were the market fundamentalists who argued that the pragmatists had got it wrong and were therefore highly critical of the Federal Reserve and the Treasury and tended to blame the recession on government housing policy. Institutionalists have argued that the regulatory system is broken, while structuralists tend to focus on growing income inequalities, the concentration of wealth and how the changing structure explains the recession in the sense that households took the avenue of higher debt on their homes to sustain higher levels of consumption. Finally, there is the Keynesian Collectivist argument that points to the limits of Rational Expectations and Efficient markets. No one really know who is right, but the fierce debate that is emerging is highly important in that each explanation seeks to provide a framework for policy making     

包头市大学生旅游市场现状调查与分析

大学生是思想最为活跃,接受新生事物能力最强的群体,有着独特的旅游行为及特征。对包头市五所高校在校大学生旅游偏好作了较详尽的调查分析,希望通过了解这颇具潜力的旅游客源市场的特点,为这一旅游客源市场的开发奠定基础,从而推动包头旅游业的发展。     

市场信用犯罪的刑法学解读

市场信用犯罪是指市场主体在市场经济活动中,违背诚实信用原则侵害了市场信用,具有严重的社会危害性并依法应受刑罚处罚的行为。本类罪的共同客体为市场信用;客观上具有侵害受刑法保护的市场信用这一行为;主体为市场经济主体,包括自然人和单位;主观上为故意,大多具有牟利性。依据不同的标准可以将市场信用犯罪分为不同类型的犯罪。     

On Individual Business System in Normal Market

Individual business is a business entity system created in the practice of reform and opening up in China. It is the largest market entity in China, and its vitality lies in the "family culture" characteristics of Chinese society. Although individual businesses have been confirmed by law at all levels, they still have transitional and non-normative doubts. In some places, individual businesses have been transformed into enterprises. Individual businesses take advantage of the natural credit bond, low cost of organization and coordination, and are targeted to meet the needs of the market, which is conducive to absorbing employment and balancing wealth, easy to disperse and digest business risks, and has a competitive advantage in the low-end market. In a normal market, the rational choice of the parties concerned should be respected, the hierarchical structure of the market should be adapted, the complete ecology of market subjects should be maintained, and the reform of individual enterprises should be prudently implemented.     

市场中介组织经济法主体地位的定性分析

本文通过对传统经济法主体概念与分类的阐述,明确了传统概念中存在的问题,从市场中介组织作为经济法主体的必要性角度去证成它的主体地位。