韩国金融衍生品市场研究
发布时间：2018-09-07 22:24
【摘要】：金融衍生品最初出现于20世纪70年代，它的出现对当时的金融和经济活动起到了丰富和促进作用。对于大多数中国人来说，金融衍生品这个概念还是个陌生的词汇，更遑论利用金融衍生品这种形式来选择性的降低风险，最大化投资的收益。金融衍生品，简而言之，就是通过采取更为灵活多样的合约形式，对公司自身的风险进行有效的整合，然后通过市场行为，将形成的风险转移给对此风险有意的风险操作者，从而实现公司内部的资源的优化配置。 金融衍生品市场的完善程度也是衡量一个国家金融市场完整和成熟与否的标志，对于任何国家来说，金融市场的发展，毕竟伴随着金融衍生品市场的发展，这一过程对于金融市场的完善和整体运营效率的提升具有非常重要的现实意义，对此进行研究，在一定程度上能丰富我国金融市场研究理论，为我国社会主义市场经济体系下的金融衍生产品的完善提供一定的理论支持。虽然韩国的金融衍生品市场诞生的时间要晚于美国，但是韩国从自身的实际情况出发，虽然在一定程度上参考了美国的金融模式，但是根据国内市场的实际需求和整体的发展情况进行的金融产品衍生产品的开发，在经过初期的低迷之后，还是成为全球范围内重要的金融产品衍生品交易中心。 上世纪末期，韩国经济发展趋于缓慢，在很大程度上对金融产品的销售和发行带来了一定的负面影响，但是从整体上来说，金融衍生产品的交易量始终保持在较高水平，而在最近几年的全球范围内的金融危机，对于韩国所造成的实质性影响相对较小，因此对韩国的金融衍生品市场进行研究是很有必要的。 在论文的设计过程中，综合采用了文献分析、市场调研、信息搜集等多种研究方法。通过对韩国金融衍生品市场的形成和发展过程进行研究，在充分考虑中国金融市场现实状况的基础上，设计出适合我国的金融衍生品市场的模式，以期望通过本文为中国的金融衍生品市场战略发展做出应有贡献。 本论文结构共分为六大部分: 第一部分绪论，论述了本文的选题背景、研究的目的，通过对国内外研究动态的回顾和综述，在现有相关研究背景和研究结论的基础上提炼出本文的创新点，对我国金融衍生品市场发展的具有一定的理论意义与现实意义。在本文的研究中，重点对韩国金融衍生品市场的形成过程进行了相关的研究，尤其是对这一过程中的法律法规方面的论述，更是具有一定的创新意义。 第二部分结合韩国金融衍生品市场介绍了金融衍生品市场的相关理论，如金融衍生品及其分类、金融衍生品的经济功能，金融衍生品的风险管理和监管等。 第三部分介绍了韩国金融衍生品市场的形成过程、现状、发展，法律法规和韩国金融衍生品市场的特点。 第四部分通过对中韩金融衍生品市场发展的比较分析，得出中韩两国在金融衍生品市场中的不同点。 第五部分是本文最重要的两章，，阐述了韩国金融衍生品市场中存在的问题：如对场内金融衍生品过于依赖、整体金融市场进入标准过于宽松等原因造成的韩国金融衍生品市场的发展缓慢等以及韩国金融衍生品市场对中国的启示，并以此为依据，对我国的金融衍生品市场的构建和完善提出了意见和建议。是本文的核心章节。 第六部分得出了本文的研究结论：在向国外的不断学习借鉴过程中，我们应该结合我国的实际情况，找到一个适合我国国情的发展方向，推行具有本国特色的金融衍生品市场，同时使中国的金融衍生品市场更为国际化。 中国现在的市场处于发展初期，很多方面还准备的不够充分，为更好的建立、完善金融衍生品市场、促进市场长远发展的功能，还需要继续完善、健全信息披露制度，减少市场参与各方的信息不对称；完善相应的法律、法规，使得各项操作有法可依；强化监管和行业协会的职能，倡导自律管理；更好的引导机构投资者的行为，培育具有长期投资这价值投资理念的投资者。 由于本人跨行学金融，属于初学阶段，因此水平有限，加之金融衍生品市场在我国不是很成熟，对它的研究只是处于起步阶段，因此本文难免存在一些纰漏和错误，在此恳请各位专家学者不吝赐教，学生万分感谢。
[Abstract]:Financial derivatives first appeared in the 1970s, which enriched and promoted the financial and economic activities at that time. For most Chinese, the concept of financial derivatives is still a strange word, let alone the use of financial derivatives as a form of selective risk reduction to maximize the income of investment. Benefits. Financial derivatives, in short, is the effective integration of the company's own risks through the adoption of more flexible and diverse forms of contracts, and then through market behavior, the resulting risks will be transferred to the risk of intentional risk operators, so as to achieve the optimal allocation of resources within the company.
The perfection of the financial derivatives market is also a sign of the integrity and maturity of a country's financial market. For any country, the development of the financial market, after all, is accompanied by the development of the financial derivatives market. This process has a very important practical significance for the improvement of the financial market and the improvement of the overall operational efficiency. This research can enrich the theory of financial market research in China to a certain extent and provide theoretical support for the perfection of financial derivatives under the socialist market economic system in China. To some extent, it refers to the financial model of the United States, but according to the actual demand of the domestic market and the overall development of financial derivatives development, after the initial downturn, or become an important financial derivatives trading center in the world.
At the end of last century, South Korea's economic development tended to be slow, to a large extent, the sale and issuance of financial products has had a negative impact, but on the whole, the volume of financial derivatives trading has been maintained at a higher level, and in recent years, the global financial crisis has caused substantial damage to South Korea. Therefore, it is necessary to study the financial derivatives market in Korea.
In the process of designing this paper, the author synthetically uses various research methods such as literature analysis, market research, information collection and so on. Through the research on the formation and development process of the financial derivatives market in Korea, and on the basis of fully considering the actual situation of China's financial market, the author designs a suitable model for China's financial derivatives market in order to look forward to it. Through this article, we should make a due contribution to the strategic development of China's financial derivatives market.
The structure of this thesis is divided into six parts.
The first part is the introduction, which discusses the background of this paper, the purpose of this study, through the review and summary of the domestic and foreign research trends, and on the basis of the existing relevant research background and conclusions, extracts the innovation of this paper, which has a certain theoretical and practical significance for the development of China's financial derivatives market. In this paper, we focus on the formation process of the financial derivatives market in South Korea, especially the discussion of laws and regulations in this process, which is of certain innovative significance.
The second part introduces the relevant theories of financial derivatives market, such as financial derivatives and their classification, the economic functions of financial derivatives, the risk management and supervision of financial derivatives.
The third part introduces the forming process, present situation, development, laws and regulations of the Korean financial derivatives market and the characteristics of the Korean financial derivatives market.
In the fourth part, through the comparative analysis of the development of China and South Korea's financial derivatives market, we get the differences between China and South Korea in the financial derivatives market.
The fifth part is the most important two chapters of this paper. It expounds the problems existing in the Korean financial derivatives market, such as the slow development of the Korean financial derivatives market caused by the over-reliance on intra-market financial derivatives, the loose entry standards of the overall financial market and so on, and the Enlightenment of the Korean financial derivatives market to China. On this basis, the paper puts forward some suggestions on the construction and perfection of China's financial derivatives market.
The sixth part draws the conclusion of this study: in the process of learning from foreign countries, we should find a suitable development direction for China's national conditions, promote the financial derivatives market with its own characteristics, and make China's financial derivatives market more international.
China's current market is in the early stage of development, many aspects are not fully prepared, in order to better establish, improve the financial derivatives market, promote the long-term development of the market function, but also need to continue to improve, improve the information disclosure system, reduce the market participants in information asymmetry; improve the corresponding laws and regulations, so that the operation of various operations. There are laws to abide by; strengthen the functions of supervision and trade associations, advocate self-discipline management; better guide the behavior of institutional investors, cultivate investors with long-term investment value investment concept.
As I cross-bank finance, belong to the initial stage, so the level is limited, coupled with the financial derivatives market in China is not very mature, the study of it is only in its infancy, so there are inevitably some omissions and errors in this paper, I would like to invite experts and scholars to teach, students thank you very much.
【学位授予单位】：西北农林科技大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F833.126
本文编号：2229585
[Abstract]:Financial derivatives first appeared in the 1970s, which enriched and promoted the financial and economic activities at that time. For most Chinese, the concept of financial derivatives is still a strange word, let alone the use of financial derivatives as a form of selective risk reduction to maximize the income of investment. Benefits. Financial derivatives, in short, is the effective integration of the company's own risks through the adoption of more flexible and diverse forms of contracts, and then through market behavior, the resulting risks will be transferred to the risk of intentional risk operators, so as to achieve the optimal allocation of resources within the company.
The perfection of the financial derivatives market is also a sign of the integrity and maturity of a country's financial market. For any country, the development of the financial market, after all, is accompanied by the development of the financial derivatives market. This process has a very important practical significance for the improvement of the financial market and the improvement of the overall operational efficiency. This research can enrich the theory of financial market research in China to a certain extent and provide theoretical support for the perfection of financial derivatives under the socialist market economic system in China. To some extent, it refers to the financial model of the United States, but according to the actual demand of the domestic market and the overall development of financial derivatives development, after the initial downturn, or become an important financial derivatives trading center in the world.
At the end of last century, South Korea's economic development tended to be slow, to a large extent, the sale and issuance of financial products has had a negative impact, but on the whole, the volume of financial derivatives trading has been maintained at a higher level, and in recent years, the global financial crisis has caused substantial damage to South Korea. Therefore, it is necessary to study the financial derivatives market in Korea.
In the process of designing this paper, the author synthetically uses various research methods such as literature analysis, market research, information collection and so on. Through the research on the formation and development process of the financial derivatives market in Korea, and on the basis of fully considering the actual situation of China's financial market, the author designs a suitable model for China's financial derivatives market in order to look forward to it. Through this article, we should make a due contribution to the strategic development of China's financial derivatives market.
The structure of this thesis is divided into six parts.
The first part is the introduction, which discusses the background of this paper, the purpose of this study, through the review and summary of the domestic and foreign research trends, and on the basis of the existing relevant research background and conclusions, extracts the innovation of this paper, which has a certain theoretical and practical significance for the development of China's financial derivatives market. In this paper, we focus on the formation process of the financial derivatives market in South Korea, especially the discussion of laws and regulations in this process, which is of certain innovative significance.
The second part introduces the relevant theories of financial derivatives market, such as financial derivatives and their classification, the economic functions of financial derivatives, the risk management and supervision of financial derivatives.
The third part introduces the forming process, present situation, development, laws and regulations of the Korean financial derivatives market and the characteristics of the Korean financial derivatives market.
In the fourth part, through the comparative analysis of the development of China and South Korea's financial derivatives market, we get the differences between China and South Korea in the financial derivatives market.
The fifth part is the most important two chapters of this paper. It expounds the problems existing in the Korean financial derivatives market, such as the slow development of the Korean financial derivatives market caused by the over-reliance on intra-market financial derivatives, the loose entry standards of the overall financial market and so on, and the Enlightenment of the Korean financial derivatives market to China. On this basis, the paper puts forward some suggestions on the construction and perfection of China's financial derivatives market.
The sixth part draws the conclusion of this study: in the process of learning from foreign countries, we should find a suitable development direction for China's national conditions, promote the financial derivatives market with its own characteristics, and make China's financial derivatives market more international.
China's current market is in the early stage of development, many aspects are not fully prepared, in order to better establish, improve the financial derivatives market, promote the long-term development of the market function, but also need to continue to improve, improve the information disclosure system, reduce the market participants in information asymmetry; improve the corresponding laws and regulations, so that the operation of various operations. There are laws to abide by; strengthen the functions of supervision and trade associations, advocate self-discipline management; better guide the behavior of institutional investors, cultivate investors with long-term investment value investment concept.
As I cross-bank finance, belong to the initial stage, so the level is limited, coupled with the financial derivatives market in China is not very mature, the study of it is only in its infancy, so there are inevitably some omissions and errors in this paper, I would like to invite experts and scholars to teach, students thank you very much.
【学位授予单位】：西北农林科技大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F833.126
【引证文献】
相关期刊论文 前1条
1 孙冬梅;张磊;;证券衍生品交易若干法律问题初探——以陈某诉广东省机场管理集团公司认沽权证侵权纠纷案为例[J];法制与社会;2013年25期
本文编号：2229585
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