创业板与纳斯达克的关联性研究

发布时间：2018-02-14 16:21

本文关键词： 创业板市场纳斯达克市场战略调整成长性　出处：《天津财经大学》2014年硕士论文　论文类型：学位论文

【摘要】：创业板自2009年建立以来,纵观其5年的发展状况,走过了曲折发展的道路。自2012年十八大提出要把对经济结构的战略性调整作为推进经济发展方式转变的总方向后,创业板市场出现了一片繁荣的景象。本文通过实证分析证明了十八大对创业板市场发生转折有重要的影响。尽管整个A股市场疲软,始终在2100点左右徘徊,但创业板市场与之形成鲜明对比,2013年整个创业板市场表现强劲,屡创新高。可见,我国的经济转型已经有了初步的成效,继续深入经济转型、加强经济体制改革,就要大力发展创业板市场。创业板才是中国经济的“晴雨表”,可以灵敏地反映出中国经济质和量的情况,创业板市场是未来中国资本市场的重要组成部分,代表了中国经济转型的方向。创业板的健康发展对中国经济的意义非常重要。作为新经济的代表,中国创业板与美国纳斯达克有很多相似之处,因此本文主要是基于创业板市场与纳斯达克市场的比较研究作为切入点,来分析中国经济结构转型时期创业板市场的发展。首先介绍了创业板与纳斯达克相关联的基础理论,包括创业板的概念、特点和对主板的影响、中国创业板和美国纳斯达克的建立与发展、股票价格决定因素等。接着本文通过实证详细地分析了中国创业板与美国纳斯达克的市场、板块、个股之间的联动性,实证显示创业板与纳斯达克在2012年的十八大之后具有很强的关联性,这说明中国新经济正在与世界新经济接轨,创业板市场是未来中国资本市场最具希望的市场。最后,根据两个市场的对比,进一步对形成两个市场相关联的因素进行分析,在此基础上,借鉴美国纳斯达克的成功经验对发展中国创业板市场提出了相应的对策建议。
[Abstract]:The gem since its establishment in 2009, throughout its 5 years of development, has followed a tortuous path of development. Since 2012 eighteen has put forward the strategic adjustment of the economic structure as the general direction to promote the transformation of the mode of economic development, the GEM market appeared a piece of prosperity. In this paper, through empirical analysis shows that eighteen the GEM market has an important influence on turning. Although the whole A stock market weakness, always hovering around 2100 points, but the GEM market in stark contrast to 2013, the GEM market is strong, record highs. Therefore, China's economic restructuring has made some preliminary results, further the economic transformation, strengthen the economic system reform, we must vigorously develop the GEM market. The gem is China economic "barometer", can sensitively reflect the quality and quantity of the China economic situation, entrepreneurship Market is an important part of Chinese capital market in the future, China represents the direction of economic restructuring. The very important significance for the healthy development of the gem Chinese economy. As the representative of the new economy, China gem and Nasdaq have many similarities, so this paper is a comparative study of gem and Nasdaq stock market as a starting point based on the analysis of the development of China during the transformation of economic structure of the GEM market. First introduced the gem and Nasdaq stock related theories, including the concept of the gem, and the effect on the motherboard, China gem and Nasdaq's establishment and development, the stock price decision factors. Then through the detailed analysis of the market, China gem and Nasdaq stock plate, the linkage between the evidence shows that the gem and Jonas Duck in 2012 after eighteen has a strong correlation, which shows that China new economy is integrating with the world new economy, the GEM market is the future Chinese capital market the most promising market. Finally, according to the comparison of the two markets, to further the formation of the two factors related to market analysis, on the basis of on the successful experience from the United States NASDAQ put forward the corresponding countermeasures and suggestions on the development of China gem market.

【学位授予单位】：天津财经大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.51

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