【作者】 王丹；

【导师】 朱慈蕴；

【作者基本信息】 清华大学 ， 民商法， 2004， 硕士

【摘要】 证券虚假陈述的民事赔偿责任是我国证券立法中的薄弱环节。近年来，随着虚假陈述案件不断被揭露，失望的投资者愤怒地将出具法律意见书的律师、制作审计报告的注册会计师以及其他卷入该类违法行径的专家与发行人一并告上法庭。本文就是在证券市场这一背景下探讨专家因虚假陈述而对第三方（主要是不具有契约关系的投资者）承担赔偿责任的问题。本文的总体思路沿着两个方向铺开：一是立法理念层面，专家“为什么”要对第三人承担赔偿责任；二是立法技术层面，专家“怎么样”对第三人承担赔偿责任。并由此形成了全文两大部分共六章的体系结构。第一章简要介绍了专家虚假陈述的基本概念，重点分析了专家参与虚假陈述的动因，指出法律制度设计不可能彻底消除专家造假行为；第二章通过考察契约和侵权责任对第三人保护的历史发展，并结合证券信息服务的要求，讨论了专家对第三人责任的法理基础；第三章随即从大陆法系、英美法系等不同国家的法律规定中探寻我国界定责任性质的最实用选择；第四章在明确了专家责任是特殊侵权责任的基础上，对适格原告、归责原则、因果关系、损害赔偿等构成要件进行了说明；第五章从与发行人承担共同责任角度提出了以专家过错为主线进行责任分担的想法；最后一章回归本土反思现状，提出专家第三人责任的立法化建议和其他相关配套制度设想。始终贯穿全文的主旨是责任制度的设定要寻求投资者保护与专家职业发展的最佳平衡点。本文的写作运用了法律解释、历史分析、横向比较、实证研究等方法，以期形成明晰的论述脉络，较为系统地介绍并说明专家虚假陈述对第三人赔偿责任制度的基本问题。同时，在专家造假动因分析和连带责任设定等个别地方，也借助了经济学、社会学的有效方法论。更多还原

【Abstract】 The system of civil liability for damages concerning misrepresentation ofsecurities is the bottleneck under Chinese securities legislation. Recently, with lots ofmisrepresentation cases were disclosed, disappointed investors have aggressivelypursued the lawyers who issued the opinions, the accountants who performed theaudits, and others who involved in deals that went sour. Under this background, thisthesis discusses the liability of experts for misrepresentation to the third parties(investors with whom the defendants do not have a contract.). The theme of this thesis focuses on two aspects: one is the legislative intentionthat “why” should professionals bear responsibility for the third-party; the other is thelegislative technique that “how” should they take the responsibility. And subsequentlyforming the system framework contains two parts with six chapters. Chapter 1 introduces the legal concepts of experts and misrepresentation, puttingstress on analyzing the cause of experts participating in the wrongdoings, and pointsout the legal design cannot eliminate the misrepresentation thoroughly; Chapter 2debates the juridical basis about the third-party liability of professionals by reviewingthe development history of contracts and torts’ protection to the third party and theneed of securities information service; with that, Chapter 3 seeks the best appliedchoice for the nature of liability in China contrasting with the different regulations incontinent law and common law; after defining the special tort duty for theprofessional obligation, Chapter 4 discusses equal plaintiffs, the regulation ofliabilities due to the defendants, causation-presumption of law and loss damages;Chapter 5 puts forward the method that the contributory duty should be sharedbetween the experts and publishers by defendant’s fault respectively; the finalChapter involves some suggestions for Chinese securities legislation and othercorrelative systems. The leitmotiv is finding the best perfect equity between theinvestor protection and the profession development.更多还原