投资时钟在我国资本市场的应用研究

发布时间：2018-05-21 19:29

本文选题：投资时钟 + 经济周期　；参考：《上海交通大学》2014年硕士论文

【摘要】：本文以美林投资时钟作为理论框架，探讨了该理论在中国资本市场进行大类资产配置的应用研究。文章首先介绍了经济周期与大类资产配置的关系，，重点阐述了在该领域最为重要的投资时钟理论。在描述各大类资产的特性后，以投资时钟为理论基础，选取符合中国特色的经济指标划分了2000年至2013年这一时间跨度内经济周期的各个阶段，重点研究了在我国经济周期各阶段与大类资产报酬率的关系，同时与美林时钟的结论进行对比，总结我国经济周期轮动下的大类资产配置规律，并对该理论在我国的适用性进行探讨和研究。
[Abstract]:Taking Merrill Lynch investment clock as the theoretical framework, this paper discusses the application of the theory to the allocation of large types of assets in China's capital market. This paper first introduces the relationship between the economic cycle and the allocation of large types of assets, focusing on the most important investment clock theory in this field. After describing the characteristics of various types of assets, based on the investment clock theory, the economic indicators with Chinese characteristics are selected to divide the various stages of the business cycle in the period from 2000 to 2013. This paper focuses on the relationship between the various stages of the economic cycle in China and the return on assets of large categories, and compares with the conclusion of Merrill Lynch clock, and summarizes the law of asset allocation of large categories under the cycle of China's economic cycle. And the applicability of the theory in China is discussed and studied.
【学位授予单位】：上海交通大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F832.5

【参考文献】