中國引入備兌權(quán)證產(chǎn)品研究-基于股改權(quán)證的經(jīng)驗(yàn).pdf

1、中國引入備兌權(quán)證產(chǎn)品研究基于股改權(quán)證的思考摘要目錄ⅡABsTltJ研。]II第——章弓I言。111研究出發(fā)點(diǎn)112文獻(xiàn)綜述一1一i22各蘢權(quán)證對(duì)標(biāo)存9股票報(bào)酬率爵守影璃一2122各兌權(quán)證對(duì)標(biāo)的段票波動(dòng)性的影響3上23番兌荔F證列布粥綴鏢頒發(fā)饉黝多影聘一41，Z4國內(nèi)在各兌權(quán)證研究方面的成果綜述一413文章結(jié)構(gòu)和主要內(nèi)容一514創(chuàng)新點(diǎn)。一6第二章國外備兌權(quán)證的發(fā)展及其對(duì)我國的啟示21備兌權(quán)證概述一82』J招；嘴岔一82L2盔西翰蜉j岔劈Z

2、約棼92工各兌灰趕觥茲FⅡ22國外權(quán)證市場(chǎng)發(fā)展的歷史與現(xiàn)狀一1123國外備兌權(quán)證市場(chǎng)的發(fā)展歷史與現(xiàn)狀1324從國際經(jīng)驗(yàn)看權(quán)證市場(chǎng)的發(fā)展模式一14—25成熟備兌權(quán)證市場(chǎng)的研究及對(duì)我國的啟示172丘J搿喧影矽備j；!灰證力分場(chǎng)j72丘2香確舅移騫說教氆匠i蘿壢2j第三章在我國發(fā)展備兌權(quán)證的可行性分析2731我國權(quán)證市場(chǎng)的發(fā)展概況27—32我國發(fā)展備兌權(quán)證產(chǎn)品的可行性分析一3133我國股票權(quán)證市場(chǎng)的發(fā)展模式分析35第四章我國引入各兌權(quán)證對(duì)證券

3、市場(chǎng)的影響。3841備兌權(quán)證的推出對(duì)證券市場(chǎng)功能和結(jié)構(gòu)的影響38—42備兌權(quán)證的推出對(duì)投資者的影響一3943備兌權(quán)證的推出對(duì)標(biāo)的證券的影響44—44備兌權(quán)證的推出對(duì)發(fā)行人的影響一4545d、結(jié)一45第五章對(duì)我國引進(jìn)備兌權(quán)證的研究結(jié)論和政策建議4751研究結(jié)論一4752政策建議47參考文獻(xiàn)致謝525S中國引入備兌權(quán)證產(chǎn)品研究一基于股改權(quán)證的思考AbstractComparedwiththematuremarketsoverseas，the

4、reareastructuralshortageandthelownumberofsupplyinChina’Swarrantsmarket一——’doubledefect’Atpresent，China’Sstocksmarketonlytotheexistenceofequitywarrantsandstockwarrants，notcoveredwarrants：onlytotheexistenceofcallwarrants，n

5、otputwarrants：onlyadozenorsowarrantslistinginthetransaction，comparedwitheveryyearinoverseasmarketstensofthousandsandevenoverhundredsofthousandswarrantstradedgrandoccasion，thegapisconsiderablyChina’Smarketdefectsledtoexce

6、ssivespeculationcharacteristicsofthewarrantsmarketTherefore，howtodevelopChina’Swarrantsmarket，theintroductionofcoveredwarrants，derivativesplayinganinherentfunctionofpricediscovery，stabilizingtheexcessivespeculationinthem

7、arketandhealthydevelopmentofChina’SsecuritiesmarkethavebecomeanimportantissueBasedonthecurrentstocksmarketscale，thereserveofsubjectstocks，theStockExchangeofhardwareandsoftwarefacilities，theexistingwarrantsmarketinvestors

8、，theissuerreserves，marketsupervisionsystemand，aswellasinsideandoutsidethehistoricalaccumulationinareassuchasanalysis，itisconsideredthatthereissolidfoundation，goodcondition，afeasibilityforourcountrytointroducecoveredwarra

9、nts：ontheanalysisofstockwarrantsmarketdevelopmentpattern，developmentgoals，environmentanddevelopmentconstitute，thatthecurrentpriorityshouldbegiventofosteringthedevelopmentofcoveredwarrantsmarket：Inananalysisoftheintroduct

10、ionofcoveredwarrantsafterthestructureandfunctionofthestockmarket，investors，thesubjectsecuritiesandissuersinareassuchasthepossibleimpactoftheintroductionofcoveredwarrantsthattheadvantagesoutweighthedisadvantages，withurgen

11、cy：Concerningtheintroductionofcoveredwarrantsonpolicyproposals，ontheonehand，theproposalistoimprovethecurrentspotmarket，theintroductionofshortsellingandtradingthesamedayrotationmechanism；ontheotherhand，itisnecessarytostre