中国银行纸黄金投资的市场风险管理研究

发布时间：2018-05-15 18:52

本文选题：纸黄金 + 风险管理　；参考：《湖南科技大学》2012年硕士论文

【摘要】：近年来，随着我国生活必需品价格的大幅上涨，民众切身感受到了通货膨胀带来的压力。黄金抵御通胀和保值增值的功能引发了人们投资黄金的热潮。纸黄金是一种银行账户式的虚拟黄金。投资者按银行纸黄金报价在预先开设的账户中买卖虚拟黄金，，不涉及实物黄金的交割，并通过把握纸黄金价格的波动赚取差价收益。纸黄金以其投资门槛低，开户容易，操作简单等特点，吸引了众多投资者参与，成为了投资者比较追捧的黄金投资方式之一。2011年仅工商银行的纸黄金和纸白银的交易额就已突破9100亿元，客户数达300余万户。由此可见，纸黄金已经成为了投资黄金的一种重要手段。本文主要研究了中行纸黄金投资的市场风险管理的相关问题。第一章绪论部分交代了本文的研究背景、意义和方法，并对国内外金融风险管理研究进行述评。第二章论述了我国纸黄金投资的概念、发展概况及影响纸黄金价格的主要因素。第三章论述了中行纸黄金投资风险识别的相关内容，主要包括了市场风险和非市场风险。第四章研究了中行纸黄金投资的市场风险评估问题，通过建立VaR-GARCH模型对中行纸黄金投资的市场风险评估进行了实证分析。第五章对中行纸黄金投资的市场风险控制方法进行了研究。第六章对中行纸黄金投资的市场风险管理进行了总结，并提出了需要进一步研究的问题。本文以国内外金融风险管理研究成果为理论基础，使用了规范分析和实证分析相结合的方法对中行纸黄金投资的市场风险管理进行了系统的研究。运用定性与定量相结合的方法，识别了中行纸黄金投资者面临的市场风险和非市场风险，运用计量模型对中行纸黄金投资的市场风险度量进行了实证分析，并根据市场风险评估结果提出了一些中行纸黄金投资的市场风险控制方法。
[Abstract]:In recent years, with the sharp rise in the price of necessities, people feel the pressure of inflation. The function of gold to resist inflation and maintain and increase value has triggered the upsurge of people investing in gold. Paper gold is a kind of virtual gold with bank accounts. Investors buy and sell virtual gold in a pre-opened account in accordance with the bank paper gold quote, not involving the delivery of physical gold, and making a difference in return by grasping the fluctuation of paper gold prices. With its low investment threshold, easy account opening and simple operation, paper gold has attracted many investors to participate. It has become one of the most popular ways for investors to invest in gold. In 2011, only ICBC's paper gold and paper silver traded more than 910 billion yuan, with more than 3 million customers. Thus, paper gold has become an important means of investment in gold. This paper mainly studies the market risk management of Bank of China paper gold investment. The first chapter introduces the research background, significance and methods of this paper, and reviews the financial risk management research at home and abroad. The second chapter discusses the concept of paper gold investment in China, the general situation of its development and the main factors affecting the paper gold price. The third chapter discusses the related contents of Bank of China paper gold investment risk identification, mainly including market risk and non-market risk. Chapter 4 studies the market risk assessment of Bank of China paper gold investment, and makes an empirical analysis of the market risk assessment of BOC paper gold investment through the establishment of VaR-GARCH model. The fifth chapter studies the market risk control method of Bank of China paper gold investment. Chapter 6 summarizes the market risk management of Bank of China paper gold investment, and puts forward some problems that need further study. Based on the research results of financial risk management at home and abroad, this paper makes a systematic study on the market risk management of Bank of China paper gold investment by combining normative analysis with empirical analysis. By using qualitative and quantitative methods, the paper identifies the market risk and non-market risk faced by BOC paper gold investors, and makes an empirical analysis on the market risk measurement of BOC paper gold investment by using the econometric model. Based on the results of market risk assessment, some market risk control methods of BOC paper gold investment are put forward.
【学位授予单位】：湖南科技大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F224;F832.48

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