【摘要】：自中國改革開放推行市場經(jīng)濟以來,中國金融市場發(fā)展的步伐從未停歇過。目前,金融產(chǎn)品發(fā)展的多元化已形成了以銀行、證券、信托、保險為主的四大支柱。其中,銀行業(yè)、證券業(yè)、以及保險業(yè)在中國的發(fā)展起步較早,己形成較為成熟的業(yè)態(tài),而信托業(yè)自產(chǎn)生至2001年以前都一直處于自身定位不明確、法律界定模糊的狀態(tài),直到2001年出臺《信托法》后,信托業(yè)才異軍突起,得到迅速發(fā)展。2012年底,信托業(yè)的市場容量已經(jīng)超過保險業(yè)成為中國金融業(yè)的第三大支柱。因此,信托業(yè)在迅速擴張、“野蠻式”生長的過程中必然碰到不少問題。 本文鑒于雖然信托市場快速擴張,但目前信托產(chǎn)品市場流動性不足。信托產(chǎn)品市場的流動性不足不僅會影響到信托公司的產(chǎn)品發(fā)行以及信托產(chǎn)品的投資者的收益,甚至?xí)䦟ξ磥硇磐袠I(yè)的發(fā)展帶來不利影響。因此,本文著重研究了信托產(chǎn)品流動性問題,首先從理論角度出發(fā),總結(jié)歸納了國內(nèi)外學(xué)者對于信托產(chǎn)品以及信托產(chǎn)品流動性問題的相關(guān)研究,介紹了信托相關(guān)的基本概念,從而提出提高信托市場流動性的必要性。在對目前信托產(chǎn)品市場的流動性機制進行剖析后,歸納分析了各流動性機制的安排、特點、效率以及監(jiān)管特點,得出不同的信托產(chǎn)品適合不同的流動性機制安排。最終,提出了一些提高信托市場流動性政策建議,望對信托產(chǎn)品的流動性研究有助于信托產(chǎn)品市場建立良好的流通機制,形成規(guī)范化、成熟、健康的信托市場。
[Abstract]:Since China's reform and opening to the outside world, the pace of development of China's financial market has never stopped. At present, the diversification of financial products has formed the four pillars of banking, securities, trust and insurance. Among them, the banking, securities and insurance industries started early in the development of China, and have formed a more mature form of business. The trust industry has been in a state of unclear positioning and vague legal definition since its inception until 2001. Until 2001, when the Trust Law was issued, the trust industry did not emerge suddenly and developed rapidly. At the end of 2012, the market capacity of the trust industry exceeded that of the insurance industry and became the third pillar of the Chinese financial industry. Therefore, the trust industry in the rapid expansion, "barbaric" growth process is bound to encounter a lot of problems. In view of the rapid expansion of the trust market, but the current trust product market liquidity shortage. The illiquidity of trust products market will not only affect the product issuance of trust companies and the income of investors of trust products, but also will have a negative impact on the development of trust industry in the future. Therefore, this paper focuses on the liquidity of trust products. First, from the theoretical point of view, summarizes the domestic and foreign scholars on trust products and trust product liquidity, introduces the basic concepts of trust. The necessity of improving the liquidity of trust market is put forward. After analyzing the liquidity mechanism of the current trust product market, this paper summarizes and analyzes the arrangements, characteristics, efficiency and supervision characteristics of each liquidity mechanism, and concludes that different trust products are suitable for different liquidity mechanism arrangements. Finally, some policy suggestions are put forward to improve the liquidity of trust market. It is hoped that the research on the liquidity of trust products will help to establish a good circulation mechanism and form a standardized, mature and healthy trust market.
【學(xué)位授予單位】：華東師范大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F832.49

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本文編號：2195138