中国资本市场发展指数研究

发布时间：2018-02-04 21:51

本文关键词： 资本市场统计指数指数投资金融衍生品　出处：《中国海洋大学》2012年硕士论文　论文类型：学位论文

【摘要】：中国资本市场从诞生那天就一直处在中国经济改革和发展的前沿，它推动了中国经济体制的改革和社会资源的优化配置。随着我国国民经济的不断发展，资本市场逐步成长壮大，其在国民经济中发挥作用的范围和程度也日益扩大和提高。中国资本市场发展迅速，1978年，中国经济体制改革全面启动，伴随股份制经济的发展，中国资本市场开始萌生。1992年10月，国务院证券管理委员会和中国证监会成立，标志着中国资本市场开始逐步纳入全国统一监管框架，全国性市场由此形成并初步发展。二十年间，中国资本市场从无到有，从小到大，从区域到全国，得到了迅速的发展，它走过了一些成熟资本市场几十年甚至是上百年的道路。总结中国资本市场的发展经验，研究其发展轨迹与趋势，对继续保持资本市场的发展速度，加快中国国民经济建设具有重要意义。目前，学术界中研究中国资本市场发展水平的成果很多，，但大多属于定性分析，定量研究的非常鲜见。本文将统计学的“指数”概念引入资本市场的研究，直观地衡量中国资本市场的发展水平。选取资本市场发展单个指数衡量指标，运用适合中国资本市场发展特点的指数模型，加以主观分析法即层次分析法，与客观分析法即熵权法相结合赋予权重，编制中国资本市场发展指数以及中国资本市场交易指数，旨在科学、客观地记录中国资本市场的发展历史及其发展规律，希望能为日后关于资本市场的研究提供新思路。本文总共分为五章，思路如下：第一章：国内外指数研究发展现状。对中国资本市场发展指数的概念进行界定；梳理了指数编制的方法；介绍了目前常用的经济指数为后文的研究奠定理论基础。第二章：资本市场子市场分析。从资本市场的内涵出发，论述了股票市场、债券市场、期货市场、证券投资基金以及中长期借贷市场的特点与作用，选取相应的个体指数指标。第三章：中国资本市场发展指数要素分析。确定了指数所包含的指标；运用主观与客观相结合的方法为指标赋权。第四章：中国资本市场发展指数编制及应用。运用合适的指数编制方法，构建出中国资本市场发展指数与中国资本市场交易指数；说明了指数的应用领域。第五章：结论。对本文的研究内容进行总结本文的创新之处在于：第一，首次将“指数”研究方法运用于资本市场发展的分析。编制中国资本市场发展指数，绘制资本市场发展指数图，并且根据所编制的指数对我国资本市场的发展进行预测。第二，对于统计指数的应用过程，创新性的进行赋权，摒弃以往采用历史数据组合作为权重的方法，而是将主观与客观赋权方法结合使用，科学的对个体指标进行赋权，综合编制总指数。由于本人能力和时间所限，本文仍然有许多待改进之处。希望本文的研究成果能够起到“抛砖引玉”的作用，使中国资本市场的发展理论得到更加深入的研究，以更好地为国民经济的发展提供支持。
[Abstract]:China capital market from the birth of that day has been at the forefront of China economic reform and development, it promotes the reform of optimal allocation of China economic system and social resources. With the continuous development of our national economy, the capital market is growing gradually, and the effect of the scope and extent of expanding and improving in the national economy.
Chinese rapid development of capital market, in 1978, China economic reform started, with the development of joint-stock economy, capital market China initiation.1992 in October, the Securities Regulatory Commission of the State Council and the China Commission was established, marking the Chinese capital market began to gradually into the national unified regulatory framework, the national market thus formed and developed. Twenty years, Chinese capital market from scratch, from small to large, from regional to national, has been developing rapidly, it has passed by some mature capital market and even hundreds of years of road for decades. Chinese summed up the experience of the capital market, the research of the development and trend of development path, continue to maintain the speed of the capital market, has important China speeding up the construction of national economy.
At present, a lot of study on the development level of capital market Chinese academic achievements, but most of them are qualitative and quantitative research are rare. The statistical "index" concept into the capital market research, the development level of capital market directly measure Chinese. The choice of capital market development of a single index measure, using the index model suitable for the development of the capital market to China characteristics, subjective analysis, the analytic hierarchy process, and objective analysis method combining entropy method to give weight to prepare Chinese capital market development index and Chinese capital market index, in order to objectively record the history of science, and the development law of China capital market, hoping to provide a new way to study on the capital market day.
This article is divided into five chapters, which are as follows:
The first chapter: the status quo of index research at home and abroad, defines the concept of China's capital market development index, combs the method of index compilation, and introduces the commonly used economic index, laying the theoretical foundation for later research.
The second chapter: analysis of the capital market. Starting from the connotation of city scene of the capital market, the stock market, bond market, futures market, securities investment fund and the long-term loan market characteristics and function, selecting the individual index accordingly.
The third chapter: the analysis of the index elements of China's capital market development. The index is determined, and the method of combining subjective and objective is used to empower the index.
The fourth chapter: the compilation and application of China's capital market development index. By using appropriate index compilation method, the index of China's capital market development and China's capital market transaction index are constructed, and the application area of index is explained.
The fifth chapter: conclusion. Summary of the research content of this article
The innovation of this article lies in:
First, the index method is applied to the analysis of capital market development for the first time. The index of China's capital market development is drawn up, and the index chart of capital market development is drawn, and the development of China's capital market is forecasted according to the index compiled.
Second, for the application process of statistical index, we should empower innovatively, discard the past method of using historical data combination as weight, but combine subjective and objective weighting methods, scientifically weighting individual indicators, and comprehensively compiling total index.
Due to the limitation of my ability and time, this paper still has much to be improved. I hope this research can play some role, so that the development of capital market theory China get more in-depth research, in order to better serve the development of the national economy to provide support.

【学位授予单位】：中国海洋大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.5;F224

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