Analysis On The Game In China Security Market Among Private Investou Listed Company And Intstitutions

The establishment of Shanghai and Shenzhen securities markets in1990s symbols theformation of converging transactions markets in china. Through22years’ development,there are2433local listed companies in our country at nowadays. In China securitymarket private investors are the source of energy market, they affect the prosperity anddevelopment of the market. Private investors play important roles in the stock market,butthey are still vulnerable groups.Their interests are violated always,which hit their investorconfidence,no doubt this will hinder China’s stock market and economic development.Discussing private investor interests protection in the Chinese stock market, is conduciveto the stable, healthy development of China’s stock market.This paper based on the game theory as important tool,absords a lot of researchachievements at home and abroad.First of all,this paper has summarized and analyzed thedevelopment of China’s stock market and stock market participants’ behavior,showing theprivate investors in the weak position in the market;Then,analyes the game relation of theprivate investors with listed companies and institutional investors,established privateinvestors and listed companies between the signal game model, analyzed the influencefactors of affect their strategy, and put forward the protection for the interests of theindividual solutions.And then analyses the game between the private investors andinstitutional, under the condition of complete information and found that under thecondition of complete information, the stock market is effective, but China’s stock marketis far from realization of complete information conditions, so in this paper, the model wasmodified and established under the condition of incomplete information dynamic game；the lastly, some protection Suggestions are put forward in the weak position in the game.