The Reasons For The Formation Of The Electronic Trading Market Research

With the development of E-commerce, Electronic Exchange Market (EEM) also booms very quickly as an important part of e-commerce. Some scholars have done some research on EEM, but there is still lack systematic and methodic research on such field. Based on the analysis of the development and research of the EEM, the paper focuses the attention on the cause of formation of the EEM, mainly analysis the technical, supply and demand aspect of such cause. Then the paper does further research on the application scope of the EEM, and give the corresponding empirical result.The paper briefly analyzes the formation of EEM in China during chapter 1. It first introduces the E-commerce, its rapid development and its important part: Electronic Exchange Market (EEM). Then the paper uses some samples and several cases to describe the formation of EEM in China nowadays, and classify the EEM. Based on such analysis, the paper defines the EEM and its basic elements, concluding the importance of research of such field.In Chapter 2, we give a synthesis of the research, and bring out the total framework of the paper. First, we do a brief synthesis and comment on the research of the E-commerce and EEM. During such summarize, we draw an important conclusion that EEM is a special form of traditional exchange market in the E-commerce times, so we must return to the original research of the Traditional Exchange Market (TEM). Therefore we give a synthesis on the TEM, and emphasis on the Zhejiang' industrial market. After such analysis, we make out our basic research method: antitheses, our basic research content: the cause of formation of the EEM, and the paper's research framework.During chapter 3, the paper analyzes the technical cause of formation of the EEM. First we introduce the premise of the formation of EEM: Digitalization and Networking. And then we analyze the digital of the market exchange method, after that we describe three basic function of the exchange market (supply of information, matching and pricing, supply of market infrastructure) and its digitalization. At last we show the innovation of the digitalization of the function of EEM: integration of exchange and business, introducing of the financial derivative goods.In chapter 4, we analyze the cause of formation of the EEM from the supply viewpoint. First we give the framework of the cause of formation of the TEM from the supply viewpoint, and we conclude that exchange market has come into being because it has three important functions: network externality, reducing the transaction cost and reducing the exchange risk. Then we analyze the basic influence of the EEM, and do some further research on how EEM can reduce the transaction cost, internalize the network externality and reduce the exchange risk.During chapter 5, the paper analyzes the cause of formation of the EEM from the demand viewpoint. Similar to the last chapter, we give the framework of the cause of formation of the TEM from the demand part. As both side of the exchange: buyer and seller face to several exchange ways (such as bilateral and multi-lateral exchange), therefore we bring out an exchange way selection model. Using such model, we cananalyze the endogenous and exogenous variables of the model, and the exchange way selection decision from bilateral to multi-lateral viewpoint. At last we conclude the exchanger' aggregation effect, exchanger' aggregation condition and how the exchanger can sequentially select its exchange way. At last we analyze how the EEM will influence those variables of the model, and draw the conclusion of the cause of formation of the EEM from the demand viewpoint, and prove such conclusion by biased market of EEM.In chapter 6, we analyze the application scope of the formation of EEM. First we review the past research on the application scope of TEM based on Transaction Cost Economics (TCE), and nowadays research on the same question of EEM. 0 Using same model of last chapter, we introduce the endogenous transaction cost, analyze several concealed exogenous v...