| In the 90s of the twentieth century, the economy of America increases dramatically: the appearing of new industry impetus the recurrent and continuous prosperity of whole economy, and escalates original industry as a result of virtuous cycle, which can be called as new economy. Meanwhile, the stock market index in America rises several times in a few years. There is a common consciousness that these two phenomena can not be torn apart. The stock market is the foundation of new economy, raising a large portion of funds. From certain kind of meaning, it is an honest saying that the stock market contributes greatly to the new economy.The author observes such interesting phenomenon and bends her mind on such research with a thinking clue to find the relationship between the strong economy of America and the continuous rising stock price. I find that the true meaning of sustaining function of stock market to America economy lies in the innovative behaviors of enterprises. Such innovative behaviors of enterprises are very critical to the surviving and development of enterprises. Generally speaking, innovation of enterprises can be divided into two categories one is the innovation in the respects of productive relationship, mainly refers to the innovation of institution and management. The other is the innovation in the respects of productive power, mainly refers to the innovation of techniques and industries. By the result of research, the stock market has a sustaining function not only on innovation of industries but also on creating environment for innovation of institution and management.The thesis combines the real incidents with theories. Preliminary, the author pursues the theoretical analysis of the reason that stock market has the function of sustaining the enterprises' innovation. Then,the author researches mainly on the new trail of logic that the sustaining function by stock market to new economy of America, especially on many hot debate points, such as manipulation of stock market, the realistic characteristics that transplant blood to enterprises without profits and related problem of bubble. From the author's own point of view, the trail of logic that stock market sustain the new economy may be explained as follows: new conceptions leads to funds raising and operation of the stock market, then brings along with the new industries and enhances the adjustment of economic structure. It is true to say that the rudimentary knowledge of newborn things is more important than quantum calculation. The industries truly have the value of technique sustaining and commercial marketing as long as such knowledge is right. Then, the risks of investment can be reduced greatly. As a result, the new industry model may survive the hardest time by the way of multiple help rather than to be destructive blow. In fact, the meaning of the new economy is that such economy enables every individual and enterprise to get a tool which enables them to exchange the information directly and join the global economy without the boundary of nationalities. Every one can express himself freely through the Internet. Just as the explain of an economist that the true world economy is the global allocation of world economic resources, internet enables the human resource, the most active and the most creative as well as the most revolutionary economic resources, to be rationally allocated in whole world. Through the widespread of inter-net, some important rules in the economic activity have been changed dramatically too. When we talk about the innovation behavior of enterprises, we know that it is a unknown area that failure and risks lies. One success must be get at the cost of many testing failures. Stock market is the natural vanguard in the new industries. In this market, future gains must be specially paid attention to. The capital always devotes to find the future gains without efforts saved, thus contributes to the combination of industry and capital. At the beginning of industry development, people have little knowledge t... |
