对冲基金在我国发展的可行性分析

发布时间：2018-04-25 07:30

本文选题：对冲基金 + 卖空　；参考：《云南大学》2012年硕士论文

【摘要】：对冲基金自1949年产生至今已有62年的历史,自1992年欧洲货币危机和1997-1998年东南亚金融危机之后,对冲基金引起各国政府和学者的高度重视。随着世界经济的全球化发展以及金融领域的跨国活动越来越频繁,对冲基金在世界范围内得到了迅速的发展,其多元化投资行为不仅影响各国金融市场,还日益对国际原油、黄金等资源类商品市场造成影响,它甚至通过并购活动影响各个国家的产业结构和经济发展。2001年底我国加入世界贸易组织后,我国的经济与国际的接轨更加紧密,随着人民币可以自由兑换以及衍生金融工具市场的建立和资本市场的不断对外开放,再加上股指期货在我国的正式推出并挂牌交易,我国市场上已经开始出现杠杆交易方式和卖空机制,这使得对冲基金在我国国内能够生存成为可能。本论文在已有的金融理论以及对冲基金运作理论的基础上,结合历史上对冲基金在国外产生的原因、所需条件等因素与国内现有环境及条件进行对比,为对冲基金在我国发展的可行性进行分析。本文共分为五章,第一章主要介绍研究的背景及研究的目的和意义；在第二章中将系统地阐述对冲基金的定义、作用、特点；在第三章通过对国际国内金融市场分析对比后,就市场可行性对我国是否能发展对冲基金进行分析；在第四章通过对国际和国内相关法律法规进行分析对比后,就法律可行性对我国是否能发展对冲基金进行分析；在第五章,对对冲基金在我国发展的可行性进行评述并对未来进行一个展望。
[Abstract]:Hedge funds have been established for 62 years since 1949. Since the European currency crisis in 1992 and the Southeast Asian financial crisis in 1997-1998, hedge funds have attracted great attention from governments and scholars. With the globalization of the world economy and the increasingly frequent transnational activities in the financial field, hedge funds have developed rapidly in the world. Their diversified investment behavior not only affects the financial markets of various countries, but also increasingly affects the international crude oil. The market for gold and other resource commodities has caused an impact. It has even affected the industrial structure and economic development of various countries through mergers and acquisitions. After China joined the World Trade Organization at the end of 2001, the economy of our country has become more closely connected with the international community. With the free convertibility of RMB, the establishment of derivative financial instruments market and the continuous opening of the capital market to the outside world, in addition to the official launch and listing of stock index futures in China, Leverage trading and short selling mechanism have appeared in Chinese market, which makes it possible for hedge funds to survive in our country. On the basis of the existing financial theory and hedge fund operation theory, this paper compares the reasons and requirements of hedge funds in history with the existing domestic environment and conditions. This paper analyzes the feasibility of hedge fund development in China. This paper is divided into five chapters. The first chapter mainly introduces the background of the research and the purpose and significance of the research. In the second chapter, the definition, function and characteristics of hedge funds are systematically described. In chapter three, after analyzing and comparing the international and domestic financial markets, On the feasibility of the market analysis of whether China can develop hedge funds; in the fourth chapter through the analysis of international and domestic laws and regulations, on the legal feasibility of the development of hedge funds in China can be analyzed; in the fifth chapter, This paper reviews the feasibility of hedge fund development in China and looks forward to the future.
【学位授予单位】：云南大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.51

【引证文献】