Investment Selection And Management Of The Network Economy

(Including contents)As the new century arrives, innovative people have realized the power of the new waves of the internet economy. The development in computer network and information technology has transfonned the human society from the industrial-economy age to the information age. Major changes in the economic structures ?from nomad economy, to agricultural economy, to industrial economy, to information economy - have greatly impacted our beliefs, theories, and practice. Meanwhile, such changes push the human society forward, and improve the material lives and the spiritual lives of the human race.Just as the way the industrial revolution changed the world, the internet economy has profound influence on our life, changing the way we work, live, study, and think. You can do all kind of things on the net: reading news, searching for information, making comments, purchasing supplies, selling goods, and bidding projects... Whether you have felt it or not, the dawn of the internet age has arrived.The internet economy is bound to change our viewpoints, create new economic models and organizational models, and induce new economic theories of the internet age. As a graduate student of economics, I am very interested in the new development of the world. As a long-time practitioner in the securities industry, the fact that clients are trading securities online also increases my interest in this topic. These are the reasons why I am fascinated by the internet economy.The internet economy is an extensive and sophisticated topic. Considering my research focus (investment theory and practice), with the permission of my tutor professor Huabing Qiu, I decided to adopt "Investment selection and management in the internet age" as my Ph.D. dissertation title.As a whole new economic structure with unique features, the internet economy has become an irresistible trend that will deeply reformed the economic operation and organization. Enterprises of the internet age will have their unique operational approaches and characteristics. Changes in the economic environment will profoundly impact investment, which by itself is an important economic activity. Changes in investment theories will bring to changes in investment behaviors. Such changes require corresponding changes in the methods of investment management and risk control. In order to adapt to the new economic structure, traditional enterprises must adopt new philosophy and reorganize operation. Given the world environment, China has no other choice. Particularly, as we join the WTO and melt into the international economy, we have to seize the opportunity brought by the internet age, and realize our dream of a strong China.This dissertation combines the comparison method and the contrast method, theoretic analysis and empirical analysis, qualitative analysis and quantitative analysis. Under the guidance of Marxism materialism and historical materialism, using Marxism economic principles, based on research fruits of the information economics and system economics, this dissertation analyzes and discusses the investment selection and management of the information age, and proposes a basic thought framework.This dissertation consists of seven chapters. The organization and main points are as follows:Chapter 1, theoretic analysis of the internet economy. This chapter focuses on the definition, function, and value of the internet economy. Section 1, the definition of the internet economy, summarizes other scholars' definition of the internet economy, and points out that the definition of the internet economy in the paper is extensive in the sense that it is an economic form that contrast to agricultural economy and industrial economy. Section 2 introduces the development of the internet economy, including the origination and development of the internet, the worldwide internet economy, and the development of the internet economy hi China. This shows that the development of the internet economy is market-oriented, rather than center-planned. Section 3 analy...