China's A-share Market Systematic Risk Assessment And Countermeasures

Our country's securities market passed by ten remaining years of development, its scale quickly extend and the investor number keep on increasing, and positive effect to increase to national economy too contain significant to build up. But can't get around of is, opposite prosper the national securities market in the west 100 remaining years of life's development process, our country's securities market is a newly arisen security market, and existing every kind of problem with blemish. From the income and risks, the two aspect that most investors concern come seeing, our country's securities market exists income not very well, bigger problem of risk. To theories field, actual situation field and take charge of the section, the generous character of the securities market risk and the analysis of the risk factor doubtless have the important meaning to theories and actual. William F.Sharpe in 1963 and 1964 brought up the Single factor model and CAPM, divide the stock market risk as the systematic risk and unsystematic risk, this text put great emphasis on taking the discussion for our country securities market's systematic risk.This article divides four parts. Chapter 1 to securities market risk and the systematic risk's concept, define proceeds, meaning taking the generally describe. Chapter 2 introduces basic measuring method towards securities market risk and systematic risk. On this foundation take the examination to the specific weight that systematic risk occupying the total risk in our country's securities market. From the dime of systematic risk occupying the total risk degree, we compare our country's securities market with The west prospers nation, Get the conclusion that the systematic risks are the main source of the securities market risk on our country's A securities market and with prosper the national securities market to compare, the systematic risk occupy the total risk obviously higher. Chapter 3 takes analysis to the general influence factor for the systematic risk and the main influence factor for our country's A securities market's systematic risk. Thinking that choice compulsivechange development mode result in the country's securities market systematic risk show the higher proportion in the total risk. The systematic risk that caused by administration, the whole of company's quantity is lowly, the rule of law environment is not perfect, lack to do sell short mechanism are four main risk's factor to influence our country's securities market systematic risk. Chapter 4 brings up four concrete Counter plans for control our country's stock market system risk on the base of chapter 3. Including improve market mechanism, widespread advance quantity of company, establish the sound law system and introduce into the sell short mechanism to with other and related derivatively financial tools.