چارچوب تنظیم‌گری سازمان بورس و اوراق بهادار در ارتباط با تشکل‌های خودانتظام در بازار سرمایه جمهوری اسلامی ایران
فصلنامه بورس اوراق بهادار

فصلنامه بورس اوراق بهادار

چارچوب تنظیم‌گری سازمان بورس و اوراق بهادار در ارتباط با تشکل‌های خودانتظام در بازار سرمایه جمهوری اسلامی ایران

نوع مقاله : مقاله پژوهشی

نویسندگان
1 دانشجوی کارشناسی ارشد، گروه مدیریت مالی، دانشگاه امام صادق علیه‌السلام، تهران، ایران
2 گروه مدیریت مالی، معارف اسلامی و مدیریت، دانشگاه امام صادق علیه‌السلام، تهران، ایران
چکیده
سازمان بورس و اوراق بهادار به عنوان نهاد ناظر بازار سرمایه ایران به تنظیم و نظارت بر تشکل‌های خودانتظام، نهاد‌های مالی و ناشران می‌پردازد. این سازمان، از طریق تشکل‌های خودانتظام شامل شرکت‌های بورس تهران، فرابورس، بورس کالا، بورس انرژی، سپرده‌گذاری مرکزی و تسویه وجوه و کانون‌ها با فراهم آوردن یک نظام داد و ستد مناسب و کارآمد برای تسویه و پایاپای داد و ستدها فعالیت می‌کند. این پژوهش در نظر دارد پس از مطالعه تطبیقی نظام تنظیم‌گری در ساختار بازار سرمایه کشورهای منتخب، ناکارآمدی‌های عملیاتی در ساختار ارتباطی مقام ناظر بازار سرمایه ایران و تشکل‌های خودانتظام را از طریق مصاحبه با خبرگان علمی و اجرایی این حوزه ریشه‌یابی کند و ضمن آسیب شناسی وضعیت موجود در ساختار فعلی بازار سرمایه، با بهره‌گیری از روش تحلیل محتوای کیفی چارچوبی عملیاتی جهت تعیین حد و مرز تصمیمات، اختیارات و اقدامات ارکان بازار سرمایه در ابعاد سیاست‌گذاری، نظارت و اجرا ارائه دهد تا ضمن تشخیص و رفع خلاءها، از همپوشانی‌ها و تزاحم‌های احتمالی به ویژه در امور نظارتی نیز جلوگیری به عمل آمده و ضمن ارتباط بین ارکان، استقلال هر یک نیز در حد بهینه حفظ گردد. مضامین اصلی و فراگیر استخراج‌شده حاصل از این پژوهش عبارتند از: حاکمیت شرکتی، الگوی تنظیمی و نظارتی نهاد ناظر و استقلال نظام بورس و اوراق بهادار و تفکیک فرآیندی. در انتهای پژوهش نیز مکانیزم پیشنهادی محقق جهت تنظیم‌گری نهاد ناظر در ارتباط با تشکل‌های خودانتظام با هدف بیهینه‌سازی ساختاری ارائه شده است.
کلیدواژه‌ها

عنوان مقاله English

The regulatory framework of the Securities and Exchange Organization in relation to self-regulatory organizations in the capital market of the Islamic Republic of Iran

نویسندگان English

Masoud Sharifi 1
Mohamad Hosein Ghavam 2
Ali Salehabadi 2
1 M.Sc. Student, Department of Financial Engineering, Imam Sadiq University, Tehran, Iran.
2 Department of Financial Management, Islamic Studies and Management, Imam Sadiq University, Tehran, Iran
چکیده English

The Securities and Exchange Organization, as the supervisory body of Iran's capital market, regulates and supervises self-regulatory organizations, financial institutions and publishers. This organization operates through self-regulatory organizations including Tehran stock exchange, over-the-counter, commodity exchange, Energy exchange, central depository and settlement of funds and centers by providing a suitable and efficient trading system for the Exchange and settlement of trades. After the comparative study of the regulatory system in the capital market structure of the selected countries, this research intends to root out operational inefficiencies in the communication structure of the Iranian capital market supervisor and self-regulatory organizations through interviews with scientific and executive experts in this field. And while analyzing the existing situation in the current structure of the capital market, using the qualitative content analysis method to provide an operational framework to determine the boundaries of the decisions, powers and actions of the capital market elements in terms of policy, supervision and implementation, in order to detect and eliminate the gaps, Possible overlaps and clashes, especially in regulatory matters, have also been prevented, and while the communication between the elements, the independence of each is also maintained at an optimal level.

کلیدواژه‌ها English

"Regulation of supervisory body"
"self-regulation organizations"
"qualitative content analysis"
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