【摘要】：2015年,我國A股市場出現(xiàn)了明顯的異常波動現(xiàn)象,先是快速上漲,繼而卻急速下跌。本文從金融業(yè)發(fā)展、居民消費(fèi)、企業(yè)融資等角度,分析股市異常波動影響經(jīng)濟(jì)金融運(yùn)行的機(jī)理,論述了A股劇烈波動的主要原因在于股票市場價(jià)格嚴(yán)重偏離實(shí)際價(jià)值、機(jī)構(gòu)投資者有待培育、市場退出機(jī)制不健全、投資者保護(hù)機(jī)制缺乏以及證券業(yè)監(jiān)管有效性不足。本文認(rèn)為,為有效防控我國股票市場異常波動風(fēng)險(xiǎn),應(yīng)當(dāng)促進(jìn)股票合理估值,培育專業(yè)投資機(jī)構(gòu),健全上市公司退市機(jī)制,完善投資者權(quán)益保護(hù)體系,建立股票市場異常波動應(yīng)急機(jī)制。
[Abstract]:In 2015, the A-share market of our country appeared the obvious abnormal fluctuation phenomenon, first rose quickly, then fell rapidly. From the angles of financial industry development, resident consumption and enterprise financing, this paper analyzes the mechanism that the abnormal fluctuation of stock market affects the operation of economy and finance, and discusses that the main reason for the sharp fluctuation of A share is that the stock market price deviates from the actual value seriously. Institutional investors need to be cultivated, market withdrawal mechanism is not perfect, investor protection mechanism is lacking and securities industry supervision is not effective enough. This paper holds that in order to prevent and control the risk of abnormal fluctuations in China's stock market effectively, we should promote the reasonable valuation of stocks, foster professional investment institutions, improve the delisting mechanism of listed companies, and improve the protection system of investors' rights and interests. To establish an emergency mechanism for abnormal volatility in the stock market.
【作者單位】： 遼寧大學(xué)經(jīng)濟(jì)學(xué)院;香港大學(xué)經(jīng)濟(jì)學(xué)院;
【分類號】：F832.51

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本文編號：2156438