本文選題：票據(jù)市場 + 轉(zhuǎn)貼價格　； 參考：《浙江大學(xué)》2017年碩士論文

【摘要】：中國票據(jù)市場通過三十多年的發(fā)展已經(jīng)取得顯著的成果,運(yùn)行機(jī)制不斷完善,市場規(guī)模不斷擴(kuò)大,參與主體不斷增加,市場份額不斷提升。中國票據(jù)市場作為利率市場化程度最高的貨幣子市場之一,已成為我國金融市場的重要組成部分,為國家貨幣政策的實施提供操作空間,對于服務(wù)中小企業(yè)、完善金融市場功能發(fā)揮不可或缺的重要作用。票據(jù)轉(zhuǎn)貼市場是銀行間票據(jù)交易的主要場所,是利率市場化程度較高的市場。在轉(zhuǎn)貼市場中,商業(yè)銀行通過票據(jù)交易實現(xiàn)信貸規(guī)模的調(diào)劑和資金的融通。面對日趨激烈的市場競爭,轉(zhuǎn)貼價格已成為商業(yè)銀行價格競爭的主要手段。分析票據(jù)轉(zhuǎn)貼價格的影響因素,有助于把握市場利率的變動規(guī)律,有利于形成合理的定價機(jī)制,有益于制定有效的交易策略。為此,本文以定性與定量、理論與實際相結(jié)合,對研究對象票據(jù)轉(zhuǎn)貼價格的影響因素進(jìn)行分析。具體分析內(nèi)容如下:首先,本文闡述了研究背景和研究意義,并且根據(jù)市場實際交易提出研究思路與方法,最后提出創(chuàng)新與不足。同時基于國內(nèi)外票據(jù)市場的研究文獻(xiàn),從票據(jù)市場運(yùn)行研究和票據(jù)市場利率定價研究兩方面對現(xiàn)有研究成果進(jìn)行評述和總結(jié)。其次,對英國、美國、日本和臺灣地區(qū)成熟票據(jù)市場進(jìn)行研究分析,總結(jié)其發(fā)展經(jīng)驗。對比中國票據(jù)市場的成長歷程和發(fā)展現(xiàn)狀,揭示存在的不足和面臨的風(fēng)險。最后,根據(jù)文獻(xiàn)綜述和理論研究的結(jié)論,結(jié)合我們票據(jù)市場的發(fā)展現(xiàn)狀,運(yùn)用統(tǒng)計計量方法從基準(zhǔn)利率、資金影響因素、信貸影響因素、宏觀經(jīng)濟(jì)影響因素和其他影響因素五方面論述票據(jù)轉(zhuǎn)貼價格的影響因素進(jìn)行實證分析,并根據(jù)研究結(jié)果提出相關(guān)建議和后續(xù)設(shè)想。
[Abstract]:After more than 30 years of development, China's bill market has achieved remarkable results, with the continuous improvement of the operating mechanism, the expansion of the market scale, the increasing of the participants and the increasing of the market share. As one of the most market-oriented money sub-markets, China's bill market has become an important part of China's financial market. It provides operational space for the implementation of national monetary policy and serves small and medium-sized enterprises. Improving the function of financial markets plays an indispensable and important role. Bill transfer market is the main place of interbank bill trading and the market with high interest rate marketization. In the reselling market, commercial banks realize the adjustment of the credit scale and the financing through the paper trading. In the face of increasingly fierce market competition, reselling price has become the main means of commercial bank price competition. Analyzing the influencing factors of bill reselling price is helpful to grasp the changing law of market interest rate, to form a reasonable pricing mechanism and to formulate effective trading strategy. Therefore, this paper analyzes the influencing factors of bill transfer price by qualitative and quantitative analysis, theory and practice. The specific contents are as follows: first, this paper expounds the research background and significance, and puts forward the research ideas and methods according to the actual market transactions, and finally puts forward the innovation and insufficiency. At the same time, based on the domestic and foreign paper market research literature, the paper reviews and summarizes the existing research results from two aspects: paper market operation research and bill market interest rate pricing research. Secondly, the paper analyzes the mature paper market in Britain, America, Japan and Taiwan and summarizes its development experience. By comparing the growth process and present situation of China's bill market, this paper reveals the shortcomings and risks faced by China's bill market. Finally, according to the conclusion of literature review and theoretical research, combined with the development of our paper market, the paper uses statistical measurement method to analyze the basic interest rate, capital influence factor, credit influence factor. This paper discusses the influencing factors of bill reselling price from five aspects of macroeconomic and other influencing factors, and puts forward relevant suggestions and future ideas according to the results of the research.
【學(xué)位授予單位】：浙江大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2017
【分類號】：F832.2

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本文編號：1882031