我国股票市场绩效研究

发布时间：2018-06-13 16:11

本文选题：股票市场 + 绩效　；参考：《江西财经大学》2012年硕士论文

【摘要】：随着我国经济的快速发展,股票市场的规模日益扩大、功能不断增加,但我国股票市场的这些功能是否得到了有效的发挥,或者说股票市场的绩效如何,已经成为国内外许多经济学者研究的重点。这个问题的研究对我国未来经济的全面、健康发展有着极为重要的意义。本文以我国股票市场的绩效作为研究对象,通过对股票市场各种功能进行分析,选取我国股票市场发展的历史数据并运用股票市场绩效评价的相关模型进行定性和定量分析。通过定性分析和定量实证检验的方法来考察我国股票市场在筹集资金、优化资源配置和对促进宏观经济增长等功能上的绩效。并在此基础上提出构建结构合理、规模适度、功能完备、运作规范的股票市场体系的对策建议。本文共包括四章：第一章,主要介绍本文的选题背景、国内外相关研究文献综述、研究的意义、内容、思路和方法以及研究的创新与不足等内容。第二章,主要是对我国股票市场绩效进行理论概述。通过对我国股票市场发展的回顾,分析我国股票市场的功能及其对经济增长的传导机制。并在理论上探讨了我国股票市场效率的各种检验模型。第三章,对我国股票市场的绩效作出定性和定量分析。主要对我国股票市场筹资效率、资源配置效率和信息效率进行定性分析,并运用单位根检验、协整检验、格兰杰因果检验等分析方法,检验了我国股票市场发展与经济增长的绩效情况。得出我国股票市场绩效不高的结论。第四章,分析影响我国股票市场绩效的原因及对策建议,包括有：信息披露不完善、投资者结构不合理、上市公司治理结构不完善、股票市场层次结构失调、股票市场法律法规不够健全等。提出相应的对策,包括有：完善信息披露机制、调整我国股票市场投资者结构,培育理性投资者、改善我国上市公司的治理结构、建立多层次的市场结构体系和健全相关法律法规,保证股票市场的健康运行。
[Abstract]:With the rapid development of our country's economy, the scale and function of the stock market is expanding day by day. However, whether these functions of the stock market in our country have been effectively brought into play, or what is the performance of the stock market, It has become the focus of many economists at home and abroad. The study of this problem is of great significance to the overall and healthy development of our country's future economy. This paper takes the performance of Chinese stock market as the research object, through the analysis of the various functions of the stock market, selects the historical data of the development of the stock market of our country and carries on the qualitative and quantitative analysis by using the related model of the stock market performance evaluation. Through qualitative analysis and quantitative empirical test, this paper investigates the performance of Chinese stock market in raising funds, optimizing resource allocation and promoting macroeconomic growth. On the basis of this, the paper puts forward the countermeasures and suggestions to construct the stock market system with reasonable structure, moderate scale, complete function and standard operation. This paper consists of four chapters: the first chapter mainly introduces the background of this paper, domestic and foreign related research literature review, research significance, content, ideas and methods as well as research innovation and deficiencies. The second chapter is a theoretical overview of the performance of China's stock market. By reviewing the development of China's stock market, this paper analyzes the function of China's stock market and its transmission mechanism to economic growth. This paper also discusses the various test models of stock market efficiency in China theoretically. The third chapter, the qualitative and quantitative analysis of the performance of China's stock market. This paper mainly analyzes the efficiency of raising funds, the efficiency of resource allocation and the efficiency of information in the stock market of our country, and applies the methods of unit root test, cointegration test, Granger causality test and so on. This paper examines the performance of stock market development and economic growth in China. Draw the conclusion that the performance of our stock market is not high. The fourth chapter analyzes the reasons and countermeasures that affect the performance of China's stock market, including: imperfect disclosure of information, irrational structure of investors, imperfect governance structure of listed companies, and imbalance of hierarchical structure of stock market. Stock market laws and regulations are not sound enough. The corresponding countermeasures are put forward, including: perfecting the mechanism of information disclosure, adjusting the structure of investors in our stock market, cultivating rational investors, improving the governance structure of listed companies in our country. Establish a multi-level market structure system and improve the relevant laws and regulations to ensure the healthy operation of the stock market.
【学位授予单位】：江西财经大学
【学位级别】：硕士
【学位授予年份】：2012
【分类号】：F832.51;F224

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