创业板的成功推出是我国多层次资本市场体系建设的重大突破。如何保证其稳定健康发展则是当前人们共同关注的核心问题。本文通过对股票可交易价值理论的研究,实证分析了创业板上市以来的交易特征,并分别针对监管部门、投资者和上市企业提出了相关对策建议。 The successful launch of the GEM is a major breakthrough in the construction of a multi-level capital market system in our country. How to ensure its stable and healthy development is the core issue that people are currently paying attention to. Based on the research of stock tradable value theory, this paper empirically analyzes the trading characteristics since the listing of GEM, and puts forward some countermeasures and suggestions for regulators, investors and listed companies respectively.