本文采用了对比分析的研究方法,从制度分析的角度对比了创业板和美国对管理层讨论分析方面的规定并指出了问题所在;从制度实施的角度对比了我国创业板和中小板样本企业的披露数据并分析了问题及原因。通过分析我们得出了我国创业板管理层讨论分析质量仍有待改善,并提出了较为可行的改进措施。 This paper uses the comparative analysis of research methods, from the perspective of institutional analysis of the GEM and the United States to the management discussion and analysis of the provisions of the problem and pointed out the problem; from the perspective of the implementation of the system compared to China’s GEM and SME sample companies Disclosure of data and analysis of the problem and the reasons. Through analysis, we conclude that the quality of discussion and analysis of the GEM management in our country still needs to be improved, and put forward some feasible improvement measures.