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On The Trading Cost System Of China's Securities Market

Posted on:2003-09-02Degree:DoctorType:Dissertation
Country:ChinaCandidate:C WangFull Text:PDF
GTID:1116360065957105Subject:Industrial Economics
Abstract/Summary:PDF Full Text Request
The modern industrial organization approach, represented by Harvard University's mason and Bain and based on the price theory of neo-classical school, divides industry into specific markets with positive research as the main means, forming an analytical framework of market structure, market conduct and market performance, with both concrete process and systematic logic setup. This approach provides theoretical foundation and study path for the concrete analysis of the positive study on individual industry, esp. on the relationship between the market structure factors such as industrial centralization, product differential, entry block, economy of scale, and market structure as well as market performance.This paper analyses the trading cost(explicit cost) system of our country's securities market, based on the above mentioned analytical framework and study path provided by the industrial organization approach. It falls into 7 parts:1stly, Introduction, Which defines the study object. No doubt, it is necessary to define the cost range researched in this paper, and to give a brief account of the securities trading cost, because the cost means too much.2ndly, Summery of the theories concerned. It's also necessary to give a brief introduction to and comment on the main arguments in the analytical framework of industrial organization approach and trading cost theory, due to this paper's purpose of studying on the trading cost system of China's securities market;3rdly, Analysis of the securities market structure. How to closely join the positive analysis of securities business with the industrial organization approach is a subject at the forward position of economics. In this part, the SCP analytical framework of securities business, and the basic implication and problems of securitiesmarket structure are dealt with;4thly, Trading cost system of China's securities market and structure of securities market. In this part, China's current commission system, stamp duty system and their influence on the market structure are expounded;5thly, Behavior, performance and fixed trading cost system in China's securities market. In this part, the market behavior and performance problems caused by China's current trading cost system, which are interrelated in fact, are discussed.6thly, The downward adjustment of China's securities trading cost and its influence on the securities market. One of the possible measures of reforming the trading cost system is to bring down the trading cost. This part mainly approaches the influence of trading cost downward adjustment on business volume, profit of operating section, market structure respectively, in order to supply basis to the reform of trading system;...
Keywords/Search Tags:Securities market, commission system, structure,behaviors and performance
PDF Full Text Request
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