本文選題：證券市場　切入點(diǎn)：產(chǎn)業(yè)結(jié)構(gòu)　出處：《廣東商學(xué)院》2012年碩士論文　論文類型：學(xué)位論文

【摘要】：自從我國證券市場誕生以來它對我國經(jīng)濟(jì)發(fā)展起著重要的作用，而國民的經(jīng)濟(jì)發(fā)展方向與可持續(xù)性很大程度上取決產(chǎn)業(yè)結(jié)構(gòu)的優(yōu)化升級。本文先闡述了證券市場發(fā)展史與我國產(chǎn)業(yè)結(jié)構(gòu)優(yōu)化升級演變史，在此基礎(chǔ)上導(dǎo)出證券市場發(fā)展與產(chǎn)業(yè)結(jié)構(gòu)優(yōu)化升級的關(guān)聯(lián)模型。然后從四個(gè)方面論述了證券市場對產(chǎn)業(yè)優(yōu)化升級的作用機(jī)制即：（1）融資功能機(jī)制；（2）資源配置機(jī)制；(3）風(fēng)險(xiǎn)分散與交換機(jī)制；4）信息披露與傳導(dǎo)機(jī)制。最后從三個(gè)角度對上述理論進(jìn)行實(shí)證分析并檢驗(yàn)：（1）我國股票市場與債券市場對三次產(chǎn)業(yè)產(chǎn)值影響比較實(shí)證分析；（2）我國證券融資率與證券流動(dòng)率對產(chǎn)業(yè)結(jié)構(gòu)優(yōu)化率影響實(shí)證分析。（3）我國證券市場發(fā)展對高技術(shù)產(chǎn)業(yè)結(jié)構(gòu)優(yōu)化升級影響實(shí)證分析。 通過理論研究與實(shí)證分析及檢驗(yàn)得出以下結(jié)論：（1）股票市值與債券余額增長對第二、第三產(chǎn)業(yè)產(chǎn)值增長的作用是對第一產(chǎn)業(yè)產(chǎn)值增長作用5倍左右，同時(shí)股票市值、債券余額與證券市值不是第一產(chǎn)業(yè)產(chǎn)值的格蘭杰原因；（2）證券融資率每提高1%，產(chǎn)業(yè)優(yōu)化率上升0.322646%，由因果檢驗(yàn)可知，證券流動(dòng)率不是產(chǎn)業(yè)優(yōu)化率原因；（3）證券化率提高1%，，高技術(shù)產(chǎn)業(yè)優(yōu)化率上升0.118507%。因此總的來說證券市場對產(chǎn)業(yè)結(jié)構(gòu)優(yōu)化升級有一定的促進(jìn)作用。但是由于我國的證券市場還不夠成熟，相關(guān)法律制度及監(jiān)管不完善等問題使得我國證券市場對我國的產(chǎn)業(yè)結(jié)構(gòu)優(yōu)化升級的作用有限，因此必須加強(qiáng)完善我國的證券市場，使其對我國的產(chǎn)業(yè)結(jié)構(gòu)優(yōu)化升級的作用得到充分發(fā)揮。
[Abstract]:Since the birth of China's securities market, it has played an important role in the economic development of our country. The direction and sustainability of national economic development largely depend on the optimization and upgrading of industrial structure. This paper first describes the history of the development of the securities market and the history of the optimization and upgrading of the industrial structure of our country. On this basis, the related model between the development of the securities market and the optimization and upgrading of the industrial structure is derived. Then, the paper discusses the mechanism of the securities market acting on the industrial optimization and upgrading from four aspects, that is, the function mechanism of financing, the financing function mechanism and the resource allocation mechanism. Finally, the empirical analysis of the above theory from three angles and the test of the impact of stock market and bond market on the output value of three industries in China (2) the empirical analysis of the impact of China's stock market and bond market on the output value of the three industries. (2) A comparative analysis of the impact of the stock market and the bond market on the output value of the three industries. Empirical Analysis on the impact of China's Securities financing rate and Securities flow rate on the Optimization rate of Industrial structure; (3) the empirical analysis of the impact of the development of China's securities market on the optimization and upgrading of high-tech industrial structure. Through theoretical research and empirical analysis and test, we can draw the following conclusions: (1) the effect of market value and bond balance growth on the growth of the output value of the tertiary industry is about 5 times that of the primary industry, and at the same time, the effect of the increase in the balance of bonds is about 5 times that of the primary industry. Bond balance and Securities market value is not the Granger cause of the output value of the Primary Industry.) for every increase in the financing rate of securities, the industrial optimization rate will rise by 0.322646. The causality test shows that. The securities flow rate is not the reason of industrial optimization.) the securitization rate increases by 1%, and the optimization rate of high technology industry increases by 0.1185077.Therefore, in general, the securities market can promote the optimization and upgrading of the industrial structure to a certain extent. However, the securities market in our country has a certain role in promoting the optimization and upgrading of industrial structure. The market is not mature enough. Some problems such as imperfect legal system and supervision make our securities market play a limited role in optimizing and upgrading the industrial structure of our country, so we must strengthen and perfect the securities market in our country. To optimize and upgrade the industrial structure of our country to play a full role.
【學(xué)位授予單位】：廣東商學(xué)院
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2012
【分類號】：F832.51;F121.3

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