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Analysis Of The Risk And Return Of Stock Market Of Our Country

Posted on:2003-12-28Degree:MasterType:Thesis
Country:ChinaCandidate:Q TongFull Text:PDF
GTID:2156360122970073Subject:Political economy
Abstract/Summary:PDF Full Text Request
The Risk and Return of stock market is one of the front issues of financial economics nowadays, and It is a difficult issue too. The traditional investment theory proceeds comparative analysis of the cost and return to attempt to solve the problem of maximize investment return, but facing the infinite uncertainty of stock market, the traditional investment theory feel at a loss what to do. The theory of modern Portfolio Selection created by H.M.Markowitz in 1952opened the prelude of modern investment theoretical research. Afterwards, Capital assets pricing theory of Sharp, Arbitrage Pricing Theory of Ross, Option Pricing Theory of Black-Scholes and The VaR to measure risk developed by the JP Margan Company, all these structured the basic frame of the modern risk theory.Emerged from the womb of transition period from planned economy to market economy and the developing history is relatively short, the stock market of our country demonstrating all sorts of uncertainty, unripe and particularity not only have risk of the developed stock market that have and special risk of the initial stage of stock market that have, but what outstanding behaviors is that the stock market of our country is in transition from planned economy to market economy and there are much specials risks caused by the numerous contradictions and conflict now. Especially our country has already joined WTO formally in 2001, the internationalization of security market is an irreversible trend. So studying deeply the stock market risk and return of our country have very strong realistic value and theory meaning.The domestic scholar's study on stock market of our country began with the birth of the stock market of our country. Among them a lot of scholars have done a large amount of research work. But they are nearly all on the basis of a certain aspect research and analysis of carrying on a certain level, seldom study the document to present systematically. For this reason, this text sounding out and proceeding with general principle of the risk, regarding Marxist economic theory and socialist market economic theory as guide, drawing lessons from the relevant theory of western economics, on the foundation that the domestic and international scholar studies, using standardize research and real example analyses research approach together, combining of our country reality of stock market, analyses stock market risk and return of our country all-sidedly and systematically in internationalized process and closed condition. I hope this text can offer some helpful reference for health development of the stock market of our country.
Keywords/Search Tags:Stock Market, Risk, Return, Institutional Risk, The Closed Condition, Internationalization, Keep a Lookout in Risk
PDF Full Text Request
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