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在经历了2001年下半年的萧条之后,证券经营机构违规行为频繁曝光,在这种情况下,研究市场参与者的行为是一件非常有意义的事情。我国证券公司违规情况 1.数据来源及处理方式本文使用的数据均来自于中国证券监督管理委员会的处罚公告,包括1994年到2001年之间的所有公告。在同一个公告中,涉及多个违法主体的分别计算,比如在同一次操纵市场中,分别有A、B两家证券公司参与,那么算作两次违规行为;同一事件中涉及多个违法事实的,则作为多次违规行为处理,比如某券商从银行违规拆借资金,并把拆入的资金向客户融资用于炒股,则分别记作两次违规行
After experiencing the recession in the second half of 2001, the frequent occurrence of irregularities by securities firms is a very meaningful matter in which to study the behavior of market participants. Violation of China’s securities companies 1. Data sources and methods of treatment The data used in this article are all from the China Securities Regulatory Commission’s punishment announcement, including all the announcements from 1994 to 2001. In the same announcement, involving multiple violations of the main calculation, such as in the same manipulation market, respectively, A, B two securities companies involved, then counted as two violations; the same incident involving a number of illegal facts , Then treated as a number of irregularities, such as a brokerage borrowing money from banks illegally, and the funds borrowed from the financing for the stock market, were recorded as two violations