Building up the growth enterprise market , which mainly provides public financing service to small and medium high - tech companies . the establishment of growth enterprise market is the most important breakthrough during the structural innovation of china ' s capital market 一般来说，创业板市场就是在主板市场之外的证券交易市场，其目的主要是为具有高成长性的中小企业和高新技术企业提供融资服务，成为中小企业的直接融资渠道。
The second board market should be put into the whole reform framework of china ' s economic system . we can promote china ' s marketization process through setting up the second board . 5 . fostering sufficient surroundings of system and law is very important 国际创业板的基本经验可归结为以下几点： 1 、成熟规范的主板市场是发展创业板的基础； 2 、力戒行政干预； 3 、真正市场化的运行规则； 4 、与风险投资紧密结合； 5 、坚持改革和创新。
So this brand - new market should operate on the market principle from the very beginning of the establishment , obey the international routine . we should not establish it according to the rule of the mainboard , which will distort it . if it operate on this way , it due to be unsuccessful 因此，这个全新的市场从创办伊始就应该一切按市场化原则运作，按国际惯例运作，而不能依据主板市场的原则来打造创业板市场，使其产生主权化的扭曲。
It would n ' t increase market efficiency if we introduce dealer system into china ' s second - board market at once because china ' s economy is transferring , so it is n ' t suitable to introduce dealer system into china ' s second - board market now . it should adopt the auction system in second - board market like in main board market 论证了在中国这样一个经济转型期内，在二板市场上引入做市商制度并不会增加市场效率，提出中国目前不适宜在二板市场上引入做市商制度，而应延续主板市场的竞价制度。
Venture capital is a new way of investment and finance , whose development and maturity can not lack the support of capital market . the capital market in china plays a critical role in the start of domestic venture capital . different from nasdaq in usa , the capital market in china will assume the dual mission as the source and exit of venture capital at the same time . public company in the key board market can apply stock capital to venture capital by director or indirect means ; the second board market in construction will invest flow capital and lower the admission threshold of high - tech enterprise , thus supporting the development of venture capital 风险投资是一种新的投融资方式，它的发展与成熟离不开资本市场的支撑中国的资本市场在启动国内风险业中发挥着先导作用，与美国的nasdaq市场不同，中国的资本市场将同时承担起充分风险投资源头和出口的双重使命：主板市场中的上市公司可以通过直接或间接的方式将存量资本运用于风险投资，二板市场正在抓紧制订之中，将通过投入增量资本，降低高科技企业的上市门槛支持风险投资的发展。
The article analyzes the construction of the securities framework and the securities regulation laws and the securities regulation system under specific national and historical conditions . the author makes a comparative study of several oversea regulatory systems and draws the conclusion that the ideal securities regulatory system in the second - board market should be one centering in self - regulation , and complemented by government regulation 特别是分别从证券发行监管制度、证券交易监管制度、证券商和证券业监管制度、自律机构监管制度等方面具体阐述了主板市场监管方面的现状以及存在的问题，并在对其客观评价的基础上，提出了一些改进建议。
According to these researches and america ' s successful experience , some result is given as follow : when the venture enterprise is very successful , it will be listed on the main board . if it does n ' t reach the main board - listing standard , it should be listed on the second board of overseas 根据以上研究分析并借鉴美国成功经验，得出研究结论为：当风险投资项目完全成功时，尽量考虑到主板市场上市，因为目前中国主板市场上市，市盈率普遍偏高，可以筹集到更多资金。
Secondly , it analyses different deal systems of second - board markets in all countries and elicits : at present the mainstream of deal system in second - board markets is auction system , and most of the deal systems in second - board markets come from main board markets because it reduces the instauration costs and is convenient for brokers and investors to trade off 然后，对世界各国二板市场及其交易机制进行比较研究，得出：当前世界二板市场交易制度的主流是竞价制，且大部分二板市场的交易机制都是从主板市场那儿延续过来的，这样可降低二板市场的设立成本，便于经纪商和投资者迅速适应交易。
Otcbb is called " commissioned shares transfer system " whose curtain was opened in 2001 . though otcbb has not gained much attention , it is as significant as , if not more , to our capital market and perfecting of corporation law and securities law . to some extent , it is much more important than the second board market 它虽然没有像二板市场那样受到如此多的关注，但是三板市场的建立和完善对我国资本市场及《公司法》和《证券法》的完善意义重大，绝不亚于二板市场，在某些方面如处理主板市场的退市股票，国有股流通以及为中小企业融资等方面甚至超过了二板市场。
This paper focus its attention on the features of growth enterprise market , especially the paper believes that accounting information disclosure and regulation should meet the demand of effective operation in the market . drawn on the experience of overseas " growth enterprise markets , based on china ' s main - board market , the paper analyzes in - depth the question of accounting information and regulation in growth enterprise market . certain policy recommendations are given based on these analyses 本文从创业板市场特征入手，以“上市公司披露的会计信息应能满足创业板市场有效运行的需要”为基本立足点，借鉴海外创业板市场的经验和教训，考察我国主板市场会计信息披露的现实状况，对创业板市场会计信息披露及监管问题进行了深入的分析和研究，并提出了自己的创新思路。
