摘要
在操纵证券市场侵权领域,不宜采纳美国的事实因果关系和法律因果关系两分法,也不宜移植德国的责任成立因果关系和责任范围因果关系两分法。司法实践中,根据直接因果关系或必然因果关系标准认定操纵证券市场侵权责任是不合理的。部分学者提出的相当因果关系理论无法有效适用于操纵证券市场侵权案件。操纵证券市场侵权案件应当实行因果关系推定,其理论基础为证明责任分配的有关理论,并非美国的"欺诈市场理论"。
In the field of stock market manipulation tort, it is inappropriate to apply American dichotomy theory of fact causation and legal causation, and it is inappropriate to transplant German dichotomy theory of liability establishment causation and liability limit causation. In judicial practice, it is unreasonable to decide tort liability according to direct causation theory or necessary causation theory. Adequate causation theory proposed by some researchers cannot be applied properly to stock market manipulation tort. Stock market manipulation tort cases should be processed with presumption of causation theory, and this theory is based on the theory of distribution of proof burden rather than American ＇market fraud theory＇.
出处
《法学评论》
CSSCI
北大核心
2017年第1期109-120,共12页
Law Review
