Only by improving supervision and balancing interests can the long-term w88 online sports betting stability be achieved
(Source: "Shanghai Securities News"2014Year7month14日）
The lack of continuity and stability of policies is the most prominent contradiction in my country’s securities w88 online sports betting. It is extremely urgent to ensure the stability and sustainable development of the securities w88 online sports betting by emphasizing the effective implementation of regulatory policies from the perspective of policy implementers' willingness to implement, and solving the problem of "policies above and countermeasures below" from the perspective of balancing interests. The logic that believes that interests can only be in two states: "balanced" or "not balanced" is incomplete. It is normal for w88 online sports betting participants to have different interests and ways of thinking, but all parties should have a say. When the goals of regulators and w88 online sports betting forces are inconsistent, if investors can be guided to try their best to understand the policies and digest them in their expectations, they can effectively avoid ups and downs in the w88 online sports betting.
China Securities w88 online sports betting20Years of leap-forward development have condensed the capital markets of Western developed countries200With many years of history, its w88 online sports betting size and exploration of multi-level w88 online sports betting structure are obvious to all. However, China's securities w88 online sports betting is a premature infant of the w88 online sports betting economy, with congenital deficiencies and acquired imbalances. With the rapid expansion of scale and the opening of the w88 online sports betting, various contradictions have become more and more prominent. The most acute point is that the author believes that policies are often temporary and volatile, lacking continuity and stability, which in turn restricts the effectiveness of supervision and the healthy development of the w88 online sports betting. What is worse is the phenomenon of "policies at the top and countermeasures at the bottom". Regulatory policies are often misunderstood. Therefore, it is extremely urgent to study the reasons for the lack of continuity and stability of policies, emphasize the effective implementation of regulatory policies from the perspective of policy implementers' willingness to implement, and solve the problem of "policies above and countermeasures below" from the perspective of balancing interests, which is extremely urgent to ensure the stability and sustainable development of the securities w88 online sports betting.
Obviously, completely consistent interests are almost impossible to exist in reality. However, since it is regulation, the introduction of a certain system and policy may not necessarily guarantee the interests of all participants, and often involves the redistribution and adjustment of interests. However, logically speaking, the understanding that regulation does not need to consider the interests of all participants is questionable. Balance of interests emphasizes that through program design, participants whose interests will be harmed to a certain extent can also realize that although the implementation of this system and policy will harm their own interests, failure to implement it will cause greater harm. Therefore, the logic that believes that interests can only have two states: "both" and "not" is actually incomplete. It is normal for w88 online sports betting participants to have differences in their starting points, local interests and ways of thinking, but all parties should have a say. "Balance of interests" is used in regulation, even if the utility maximization goal of each member involved in the regulatory policy (especially the implementer) is always consistent with the overall goal of the policy. In this sense, the concept of interest consideration represents the degree to which each member's utility maximization goal is consistent with the policy goal, and the difference in degree in different states. When the goals of regulators and w88 online sports betting forces are inconsistent, if investors can be guided to try their best to understand the policies and digest them in their expectations, they can effectively avoid ups and downs in the w88 online sports betting.
To improve the balance of interests is to fully respect the interests of all w88 online sports betting participants. The prerequisite for respect is to fully understand the interests of all participants. Certain local interests of various w88 online sports betting participants often conflict with each other. This is normal, but it must not be a reason for one type of participant to harm the interests of another group of participants. Moreover, all participants must have extensive common interests. This is the basis and premise for w88 online sports betting development, and it is also the guiding ideology that regulators must clear.
The common core interests of all participants can be summed up in two points: the securities w88 online sports betting is healthy, stable, and sustainable; each participant can share the fruits of w88 online sports betting development. This should of course be the starting point of all w88 online sports betting policies. This means that the legal status, rights, responsibilities, etc. of the participants in the securities w88 online sports betting are all equal. In accordance with the authority granted by the law and on the basis of complying with the law, all supervised objects should be treated fairly, disputes and controversies should be handled fairly, all parties should be treated fairly, no discriminatory behavior should be allowed, and normal w88 online sports betting behavior allowed by the law should not be interfered with, so that w88 online sports betting participants can have stable expectations.
For listed companies, a fair and efficient w88 online sports betting should have a unified and continuous standard w88 online sports betting: stable and clear listing and delisting standards, and effective implementation over a long period of time. The most taboo thing is that the standards keep changing, so that you don't know what to do. Moreover, the supervision of listed companies should be appropriate. In addition to operating in compliance with the law and meeting the information disclosure requirements of regulators and investors, no other agency should impose additional requirements on them. For listed companies with good business operations, we also hope that bad money will not drive out good money.
The biggest requirement of institutional investors is openness. Because institutional investors in the securities w88 online sports betting most need to obtain legal protection for their investments in the w88 online sports betting, so that they are not subject to fraud. Institutional investors who invest huge sums of money into listed companies to take risks naturally want to get reasonable returns. They especially hope to get timely and accurate information on the operating status and changes of the invested projects like their own operating companies. At the same time, because the investment behavior of institutional investors will also have an impact on investment objects due to the investment process, regulatory agencies are required to provide appropriate protection.
Large interest groups may capture regulators to ensure that their interests are not affected. Small and medium-sized investors do not have the ability to capture regulators, but they are the truly vulnerable group who need protection the most. Moreover, the development history of China's securities w88 online sports betting for more than 20 years is the history of small and medium-sized investors making great contributions to the obscurity of state-owned enterprises. Only by effectively protecting their interests can we truly embody the purpose of putting people first and respecting public interests. In short, the status of small and medium-sized investors is extremely special. On the one hand, they are the foundation of the w88 online sports betting, and on the other hand, they hope to receive stronger protection due to their objectively weak position.
Improving the interest-balanced degree of regulatory policies is fundamentally about improving the consistency between policy goals and member goals. To improve the balance of interests is to improve the effectiveness of supervision. When a policy is in mutually exclusive interests, it will be difficult or even unenforceable; when a policy is in full consideration of interests, it will be implemented well; and policies in the middle will be better implemented as the degree of balance of interests increases. Therefore, in order for regulatory systems and policies to be implemented smoothly and regulatory resistance to be eliminated, the interests of the parties involved must be considered, and the interests of the executors must be fully considered. This requires sufficient understanding of the behavior and policy response mechanisms of micro-entities participating in the w88 online sports betting, and understanding, consideration, and attention to the interests, operating characteristics, and difficulties faced by those being regulated, such as listed companies and intermediaries.
Securities trading itself is a "zero-sum" game in the short term. Regulators have no obligation and no way to make profits for all participants. However, many times regulators need to explore win-win ideas for supervision from the "zero-sum" game. Because everyone seeks advantages and avoids disadvantages, when regulators formulate and implement regulatory systems and policies, they must adopt various methods to make them willing to implement them, or to clarify the consequences of non-implementation. Therefore, the degree of consideration can be improved in the following ways. First, try to create a win-win solution that takes into account the interests of all parties, taking into account the interests of both financiers and investors. Second, try to allow all participants to share in the benefits that will arise from the implementation of this plan that will promote w88 online sports betting development. Paying attention to the core function of optimizing resource allocation in the securities w88 online sports betting, the main responsibility of regulatory authorities is to improve the laws and regulations for w88 online sports betting operation and supervision based on the principles of openness, fairness, and impartiality, and should not interfere too much in the w88 online sports betting based on administrative means. Third, all participants, especially small and medium-sized investors, have the opportunity to express their interests and demands, establish procedures for equal consultation with those who may be affected by the policy, and conduct extensive consultations and hearings from policy formulation to promulgation, with special emphasis on listening to and paying attention to the opinions of small and medium-sized investors. Fourth, when formulating regulatory policies, a favorable feedback mechanism should be established to consider whether the w88 online sports betting response after each policy is introduced meets the expected goals. In this way, it is possible to fundamentally break out of the vicious cycle of a policy that is loud when it is introduced, but is implemented with little success and ultimately fails.
(The author is a professor at the w88 casino of International Business, w88 casino)
Related links:
1.China Securities Network:
http://news.cnstock.com/news/sns_jd/201407/3097745.htm
2. People's Forum Network:
http://www.rmlt.com.cn/2014/0714/291037.shtml
3.Hexun.com:
http://stock.hexun.com/2014-07-14/166582679.html
