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The Comparison And Research Of Japanese & America Fund's Revolution

Posted on:2005-04-05Degree:MasterType:Thesis
Country:ChinaCandidate:Z Y HuangFull Text:PDF
GTID:2156360122499401Subject:World economy
Abstract/Summary:PDF Full Text Request
Passes the development of hundreds of years, investment fund has become and had the commercial bank and insurance device that goes up the history of a hundred years, form 3 modern financial system big organizations together. In America invest in fund even exceed commercial bank have occupied the location with first finance. In the Chinese social course in forward development a lot of fresh thing changes people the content of life. Security market and investment fund are a part of in which, because their direct income source of people connects with consumer expense. But for the most shareholder, directly participate in the really needs of security market to pay out plenty of energies, undertake the matter of huge risk; Individual entrusts to manage money, is nearly impossible to also popularize because of the factor roles such as idea and cost, in China. Investment fund should become the resident investment of our country according to its theoretically convenient mechanism of efficient, low cost and low risk, is ideal as managing money to select, but fact is not such. The major purpose of our country that begins to lead into investment fund in 1991 is to stabilize capital market, and then promotes the growth of capital market. But in this course, the running behaviors of investment fund has occurred the variation of considerable level, does not reach expected effect, turns over and have aggravated market non-standard. These theoretical researches owned deserve us to study further to the fact phenomenon that deviated from. This paper aims at passing as the aspects such as day, the beautiful investment fund development of two countries, present situation as well as operation and superintendence mechanism carry out trade off study, seeks some experience and lesson for that Chinese investment fund development has to refer to meaning from it. Full text divides into 3 parts. In preface, hold currency asset proportion and fund stock from fund to hold the 3 aspects of time limit as well as the fund stock profit of price difference and dividend profit proportion, analyses the bond unfavorable influence of investing in fund for the stock market of our country to carry out analysis. In the first minute, elaborate for investing in fund concept, leave for the scholar of investment fund who calls the varied country and area and difference, that also has no a unified, recognized standard and difference for the definition of investment fund from each national conditions and the knowledge for investment fund, never same angle have given different definition, in article, have selected some concepts that has characteristic fairly to carry out introduction. At the same time in the first minute, it is for related theory of investment fund, modern asset combination theoretical, capital asset price is theoretical (CAMP), set sharp price theory (APT), effective market theory introduce and appraise, make reader have a relatively distinct overall knowledge for investing in fund. From world scope American investment fund possess the world kind of high order undoubtedly with a maximum of, scale is biggest, function is most whole to invest in fund market. Can say that American investment fund market and its system arrangement have represented the highest level of world investment fund development, also indicate basic direction and the newest tendency of world investment fund development. And Japanese investment fund is Japan as well as the representative of Asian investment fund trade, is cultural to be with the same source of Chinese culture, as the investment of the masses select one of investment fund in the development of developing way for the investment fund trade of our country of Japan have certain reference meaning. The second part of this paper is compared for the present situation of the investment fund that is from Japanese and American two countries and the aspects such as type, operation mechanism and superintendence mechanism, and is analyzed for the investment reason of two countries of different fund. Through the resear...
Keywords/Search Tags:Comparison
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