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Research On Surpervision Problems Of The Financial Derivative Market In Our Country

Posted on:2008-10-27Degree:MasterType:Thesis
Country:ChinaCandidate:Y YangFull Text:PDF
GTID:2189360215967592Subject:Finance
Abstract/Summary:PDF Full Text Request
World financial derivatives market got an explosive growth in the past 30 years, and the fundamental reason lies in companies, enterprises and financial institutions to provide a lower-cost management of financial liberalization wave of financial risks effective tools In commodity markets outside of the capital market has formed a risk transfer and price discovery of the unique features of the market. But at this stage in China, the development of financial derivative market is still in its backwardness, stagnation, in the development of both scale and the level of development, and China's economic and social development situation is not proportionate. China needs development of the financial derivatives market, this is not the market for improving the structure of the banking market and the objective requirements the same is also a financial deepening of practical needs, in line with China's economic and financial development in the reality of the situation. The other hand, the financial derivatives market transactions of the complexity of the financial system makes the potential risks of increased significantly, its supervision has become the world's financial institutions are facing one of the urgent tasks. With derivative securities transactions continued expansion of the scale of its overall market risk is even greater. Domestic investors non-rational investment behavior and the impact of international speculators will be on the financial derivatives market development not unforeseen hazards. If not prevent, then it may lead to China even the global financial system collapse. This is the 1997 Asian financial crisis has been fully proved. Therefore, an appropriate reference to the international financial derivative market supervisory experience and to strengthen international regulatory cooperation, timely design of China's financial derivatives market regulatory system that is very necessary. According to this paper, China is now in the stage of its economic development, the level of the market and its legal system. draw on the financial derivative market supervision experience, a reasonable choice of China's financial derivatives market regulatory system, China's financial derivatives market realities development beneficial exploration.This paper exploring for China's financial derivatives market regulatory system the main line, First of China's financial derivatives market development history, present situation and the problems that exist. Next to behavioral finance theory foundation, expounded on the financial derivatives market risk arising from the special mechanism and on the financial derivatives market supervision reference, Then in the financial derivatives market monitoring of the economic analysis, based on game theory, tools, innovations in the financial supervision and financial dynamics analysis comparative statement of the world's major national financial derivatives market monitoring system to gain experience in the same time as China's financial derivatives market regulatory system constructed to provide theoretical support and corroboration incident. The focus of the article, the author summarizes the development of China's financial derivatives market failure in the early lessons. From behavioral finance perspective, the combination of the financial derivatives market risk cases expounded the "non-rational" investment behavior is causing a financial derivatives market risk important reasons, and raised on financial derivatives market supervision learn. In learning from international experience and the realities of China ties on the basis of Finally, I believe that the formation of a more suitable to China's financial derivatives market supervision system (regulatory objectives, content, methods, regulatory approach, the legal system, etc.)...
Keywords/Search Tags:Financial derivative products, Financial derivatives market, Regulatory system, financial behavioral theory
PDF Full Text Request
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