NASDAQ from OTC Market to Securities Ezchange and Its Enlightenments
This paper includes a brief review of NASDAQs (National Association of Securities Dealers Automated Quotation) changing from an electronic quotation of OTC market to a national securities market of the U.S., from membership to corporate and its route of becoming a transnational group. Analyze NASDAQ in the technology & services innovations, the system & mechanism innovations and the characteristics of both. And further analyze the enlightenments of NASDAQs successful experience on the building of Chinas OTC market and the direction of further research. This article holds: The building of Chinas OTC market should use corporate as the organizational form of market, from internal governance structures and external governance mechanisms to promote the system and institution-building and innovations, and stimulate the technology & services innovations. Analyzing NASDAQ will be a good starting point for analysis about the building of Chinas OTC market.
OTC Market Securities Ezchange Market Innovation Corporate Governance
JIN Qiang
Center for Studies of Corporate Governance Nankai University, Tianjin, P. R. China, 300071 & TEDA State-owned Assets Operation Corporation, Tianjin, P. R. China, 300457
国际会议
The 5th International Sympsium for Corporate Governance(第五届公司治理国际研讨会)
天津
英文
287-298
2009-09-01（万方平台首次上网日期，不代表论文的发表时间）