證券市場內幕交易規範研究－－公開原則是萬靈藥嗎？

The Research of Insider Trading Regulations in the Stock Market - is the Full Disclosure a Panacea?

本文從效率市場觀點，以中國證券市場屬於弱式效率市場理論為基礎，從上市公司其內幕信息所蘊含的財產價值角度對內幕交易規範展開論述。研究證券市場中公開原則所維持的公平性，與內幕信息財產權保障間的衡平問題。目前為中國企業積極改制的階段，高淳陶瓷案為第政官員涉入內幕交易的案件，本文藉由該案對內幕交易規範中公開信息否則禁止交易的原則，從內幕信息財產權的視角進行研究。

On the basic of the Efficient Market Hypothesis, China's securities market is weak form efficient market theory which is based on the property value of listed companies of its inherent insider information insider trading norms start on. Equity of the stock market maintained by the principle of openness and the issue of equity between insider information to protect property rights. At present, the China enterprises have entered in an actively restructuring phase.