- On The Characteristics Of China's Stock Market, The Economics Of The Stock Price Analysis

The dissertation concludes seven chapters, and analyzes the characteristic of the stock price from different angles.In the first chapter, based on the conditions of the microeconomic individual and the optimal relationship of the supply-demand and the yield of the stock investment, we deduces the model of the supply-demand of the stock and the equilibrium price of the stock exchange, and brings forward the astringency and volatilization of the equilibrium price dependent on the character of the supply-demand. Because the stochastic impulsion functions on the price, it concludes that the price bubble comes from the procession of the equilibrium price. And utilizing the reciprocity relation of the stock price and the outstanding achievement of the enterprise management, the equilibrium model of the product and stock market is built.In the second chapter, briefly introducing the function and the relationship of the participants and the stock market, and with the completely newly angle analyzing the function of both, we reduce the "doing and learning" model of the interaction of the growth of investment and the stock market, and the model of the stock price and the enterprise management, emphasize and analyze the function of government and the market agencies.In the third chapter, on summarizing the behavior pattern and characteristic of the stock price in the mature market and sufficiently assessing the character of the indexes of Chinese stock market, we deduce the behavior pattern of the stock price in Chinese stock market, measure the connotation of information and discusse the function and efficiency of the stock price collocating the resource.In the fourth chapter, about the function of liquidity on the stock price, completely looking through the research literatures, we build the liquidity models of the enterprise, the stock and the non-flowing assets, and the equilibrium value model of the stock and the other assets.In the fifth chapter, based on the analysis of the relationship of consumption, investment and the economic policies, we generalize the model of the three.In the sixth chapter, summarizing the achievement of Chinese stock market, we put forward some "impossibility" in the development of the market, and assess the developing path and indexes, and the system risk.In the seventh chapter, analyzing the function of the market and the economic growth, we separately build the models of the stock price and economic growth based on consumption or investment. At the last, using the relation of yield of the stock investment and the entity investment in the different countries, we get the model of the capital flow in the open economy.