中国证券投资中的套利行为研究

发布时间：2018-04-27 20:11

本文选题：证券投资 + 套利行为　；参考：《昆明理工大学》2013年硕士论文

【摘要】：随着我国市场经济的发展,在1990年和1991年在上海和深圳分别建立两个证券交易所,经过20多年的发展,我国的证券市场的发展还存在一定的滞后性。但是,随着我国GDP总量的不断上升,再加上我国在世界GDP总量中的比例不断上升,这样也使我国的证券市场的地位得到了显著的提高。但是,由于我国的证券市场还不成熟,再加上我国在这一方面积累的经验也比较少,这就导致我国证券投资中的套利行为存在很大的问题,不利于我国证券市场健康稳定的发展,比如说中国证券投资中的套利行为方面的规范存在很大的制度和技术方面的缺陷。本文首先通过对国内外关于证券投资中的套利行为文献进行研究,并对其进行总结；其次,对套利的涵义和特点进行分析和说明,并且按照证券投资中套利产生的因素来对证券投资中的套利行为进行分类,其主要包括价格差异套利、市场间套利、周期套利、制度套利、行为金融学理论应用的套利、技术套利等几种类型；然后再对我国证券投资中的套利行为产生的原因进行分析和说明,其主要存在着制度缺失、市场结构缺陷、证券投资者行为偏差、信息披露不规范这几个方面的原因；然后,通过案例来对中国证券市场上的套利行为进行说明,主要是通过攀钢钢钒二次现金选择权套利机会分析做了套利实例分析；最后对全文进行总结和展望。通过对本文的分析,希望能够对我国的证券投资中套利行为的规范和健康发展提供些许的建议和参考,同时也为套利行为的相关理论进行案例说明。
[Abstract]:With the development of China's market economy, two stock exchanges were set up in Shanghai and Shenzhen in 1990 and 1991 respectively. After more than 20 years' development, the development of China's securities market is still lagging behind. However, with the increasing of China's total GDP and the increasing proportion of China's total GDP in the world, the position of China's securities market has been greatly improved. However, as the securities market in China is not yet mature and our country has accumulated relatively little experience in this area, this has led to great problems in arbitrage behavior in China's securities investment. It is not conducive to the healthy and stable development of China's securities market. For example, there are great institutional and technical defects in the regulation of arbitrage behavior in China's securities investment. Firstly, this paper studies and summarizes the literature on arbitrage behavior in securities investment at home and abroad; secondly, it analyzes and explains the meaning and characteristics of arbitrage. And according to the factors of arbitrage in securities investment, the paper classifies the arbitrage behavior in securities investment, which includes price difference arbitrage, arbitrage between markets, periodic arbitrage, institutional arbitrage, arbitrage of behavioral finance theory. After analyzing and explaining the causes of arbitrage behavior in securities investment in our country, there are main defects in system, market structure, behavior deviation of securities investors, and so on. Secondly, the paper explains the arbitrage behavior in China's securities market through a case study, mainly through the arbitrage opportunity analysis of vanadium secondary cash option at Panzhihua Iron and Steel Co. Finally, the full text of the summary and prospects. Through the analysis of this paper, we hope to provide some suggestions and references for the regulation and healthy development of arbitrage behavior in China's securities investment, and also to illustrate the relevant theory of arbitrage behavior.
【学位授予单位】：昆明理工大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.51

【参考文献】