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研究生: 譚濟德
Tsogtbayar, Tamjid
論文名稱: 蒙古證券法之評論研究+
A Critical Review of Mongolian Securities Law on the Disclosure for Public Offering of Securities
指導教授: 李伯岳
Lee, Bo-Ywe
學位類別: 碩士
Master
系所名稱: 管理學院 - 國際管理碩士在職進修專班(IMBA)
International Master of Business Administration(IMBA)
論文出版年: 2006
畢業學年度: 94
語文別: 英文
論文頁數: 80
中文關鍵詞: prospectus and market participantsregistration statementpublic offering of securitiessecurities
外文關鍵詞: public offering of securities, registration statement, prospectus and market participants, securities
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  • This Report examines the securities regulations concerning the disclosure for public offering of securities in a way to compare the similarities and differences of the securities laws among the United States, Taiwan and Mongolia. Content analysis, Delphi analysis and Correlation analysis are used to conduct this study.
    The Content analysis reveals that the objectives of securities laws are to facilitate an efficient market and how the securities laws can standardize the disclosure requirements on a prospectus of public offering, the requirements on market participants and the enforcement powers of the Regulatory regarding to such disclosure requirements.
    The Delphi analysis evaluates the significance of the securities rules concerning the disclosure for public offering that are issued based on the results of the comparison of the studying securities laws for Mongolian securities regulation.
    The Correlation analysis examines the relationships among variables under the research conceptual model.
    A Questionnaire of Delphi analysis was collected from 116 respondents, including 19 regulators, 18 market makers, 28 professionals, 21 securities issuers, and 30 securities holders who work on the securities market of Mongolia.

    This Report examines the securities regulations concerning the disclosure for public offering of securities in a way to compare the similarities and differences of the securities laws among the United States, Taiwan and Mongolia. Content analysis, Delphi analysis and Correlation analysis are used to conduct this study.
    The Content analysis reveals that the objectives of securities laws are to facilitate an efficient market and how the securities laws can standardize the disclosure requirements on a prospectus of public offering, the requirements on market participants and the enforcement powers of the Regulatory regarding to such disclosure requirements.
    The Delphi analysis evaluates the significance of the securities rules concerning the disclosure for public offering that are issued based on the results of the comparison of the studying securities laws for Mongolian securities regulation.
    The Correlation analysis examines the relationships among variables under the research conceptual model.
    A Questionnaire of Delphi analysis was collected from 116 respondents, including 19 regulators, 18 market makers, 28 professionals, 21 securities issuers, and 30 securities holders who work on the securities market of Mongolia.

    ACKNOWLEDGEMENTS i ABSTRACT ii TABLE OF CONTENTS iii LIST OF TABLES vi LIST OF FIGURES vii DEFINITION OF KEY WORDS viii CHAPTER ONE INTRODUCTION 1 1.1. Research Background 1 1.2. Research Motivation 2 1.3. Research Objectives 4 1.4. Research Procedure and Methodology 5 1.5. Research Structure 6 CHAPTER TWO LITERATURE REVIEW: THEORY OF SECURITIES REGUALTION 7 2.1. Concepts of the Securities Regulation 7 2.2. Disclosure Requirements 12 2.3. Requirements and Restrictions on Market participants 15 2.4. Securities Regulators’ Powers and Public Enforcement 17 2.5. Chapter summary 19 CHAPTER THREE RESEARCH DESIGN AND METHODOLOGY 20 3.1. Conceptual Model 20 3.2. Construct Measurement 21 3.3. Data Analysis Procedures 22 CHAPTER FOUR CONTENT ANALYSIS: COMPARING THE SIMILARITIES AND DIFFERENCES OF THE REGULATION OF SECURITIES LAWS 25 4.1. The Purpose of Securities Laws 26 4.2. The Public Offerings of Securities 28 4.3. The Disclosure Requirements on Securities Laws 30 4.4. The Requirements and Restrictions on Market Participants on Securities Laws 34 4.5. The Regulators’ Powers and Public Enforcement on Securities Laws 37 4.6. Chapter Summary and Results 43 CHAPTER FIVE DATA ANALYSIS: EVALUATING THE SIGNIFICANCE OF SECURITIES RULES ON THE DISCLOSURE 47 5.1. Selection of Respondents 48 5.2. Selection of Variables and Questionnaire Design 49 5.3. Data Collection and Preparation 52 5.4. Delphi Analysis 54 5.5. Correlation Analysis 61 5.6. Chapter Summary 63 CHAPTER SIX RESEARCH CONCLUSIONS AND SUGGESTIONS 65 6.1. Research Conclusions 65 6.2. Research Limitations 68 6.3. Research Suggestions 69 REFERENCES 71 APPENDEX 1. Questionnaire 74 APPENDEX 2. Histograms of the Quantitative Variables Before Examining Data 77 APPENDEX 3. Histograms of the Quantitative Variables After Examined Data 79

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