Dissertation > Excellent graduate degree dissertation topics show

The Research of Market Quality Impacted by the Behavior of Muture Fund

Author: WangZuo
Tutor: HeDaAn
School: Zhejiang Technology and Business University
Course: Industrial Economics
Keywords: Market Quality Herding Feedback Policy Mobility Volatility Pricing efficiency
CLC: F832.51
Type: Master's thesis
Year: 2008
Downloads: 88
Quote: 0
Read: Download Dissertation

Abstract

In recent years, China's securities market and investment fund industry to see. From the exponential trend, the 2007 index record highs, October 16, the Shanghai Composite Index hit a record high of 6124.04 points; capacity from the market, in 2007 more than 400 billion yuan IPO, stock prices and the expansion of new shares together created a market leap in capacity, total market capitalization of the Shanghai and Shenzhen more than 33 trillion yuan. In 2006, the Shanghai Stock Exchange market quality produce its first report on the quality of the market research scholars to become the focus of attention. Quality as the market in a particular trading system and market environment of financial markets a comprehensive reflection of operational performance, based on market trading as the core of the market clearing process the information reflected, instructions, prices and other trading property in the market at the level of integrated reflected. Specific point of view, the quality of the market investigation, including market liquidity, market volatility and pricing efficiency, order execution quality and other aspects. Despite the rapid development of China's securities market, the market quality has also improved, but compared with foreign developed securities market, the relative is not perfect, China's market structure is extremely unreasonable, individual investors and institutional investors serious imbalance. Of course, we should also see, from the 1998 first only standardized securities investment fund inception to the end of 2007, China has set up a fund management company 59, 363 mutual funds, fund size of more than 3 trillion yuan, investment funds position in the market has been increasing. As institutional investors, investment funds representatives, has been considerable development, its impact on the market and influence are further deepened. As a group investment fund investments, the investment behavior of rational and irrational scholars have been a focus of the study. In this paper, on the basis of such a reality, intended to illustrate the behavior of investment funds impact on the quality of the market. In this paper, based on theoretical analysis, focusing on empirical research, carried out on samples of descriptive analysis and the use of the model in-depth investigation. Investment behavior in the fund and investment strategy of the study, compared with the current general consensus is that our significant investment funds \This article first systematic examination of the Fund's investment behavior on the quality of the market, in the market index returns through segmentation research and fund Awkwardness performance characteristics study, the author found that the development of China's investment fund industry increased market mobility and increased market pricing efficiency, but also exacerbated the market's volatility. Awkwardness of Fund from the stock to see the impact has not been significant, but as the research object Awkwardness overall analysis, Awkwardness mobility better than the overall average market index, while yield volatility should be greater than the index return volatility. Overall, there have been contrary to the original intention of investment funds' investment behavior, without adhering to long-term investment philosophy, this and our current market situation is closely related. Therefore, the construction of a favorable market environment for investment without delay. I think the most important thing is to invest more in innovation and a tool to improve the quality of investors as a whole, a reasonable fund appraisal standards.

Related Dissertations

CLC: > Economic > Fiscal, monetary > Finance, banking > China's financial,banking > Financial market
© 2012 www.DissertationTopic.Net Mobile