Institutional Investors On China Securities Market The Effect On The Stability Of The Research

with the continuous development of the securities market and mature, highly specialized institutional investors arises at the historic moment, it is increasingly thinning and organization of investment and the socialization of inevitable product, its behavior will be in the securities market which give more and more far-reaching influence. a common ideas that investors can play the stability of securities market, so the role of the state government to the development of institutional investors, securities investment funds, as a representative of the institutional investors even more rapid development, now has become the biggest in the mainland stock market institutional investors. yet for institutional investors it really can play the role of the stability of securities market, and academia that there are two opposing points of view. a view of institutional investors’ own exist all sorts of defects and shortcomings, and their investment objectives of the value of the assets is simple, so by the development and expansion of the institutional investor team to stability of securities market is not realistic; another argument is that it is a professional institution investors investment group, and their investment behavior appears more rational, will use our abundant professional knowledge and skills of the intrinsic value of the assets of analysis, the rational investment, and institutional investors and expands the team will play the role of the stability of securities market. in this paper the domestic and international famous literature review and after this, first of market stability and institutional investors, the share price for defining the deviation from the intrinsic value of a degree of securities market stable or not, this article from the angle of the theory in the analysis of institutional investors, the effect on the stability of the market for the first and next econometric model selection variable provides the basis. this article from the a share market part of the actual conditions, empirical research analysis of securities investment fund share ratio of the stock price and the relationship between the securities investment fund position of the proportion of the change and the relationship between the stock index go up drop, and concludes that the institutional investors not only didn’t play the role of the stability of securities market, but in the securities market fluctuations play a important role. the author thinks that institutional investors failed to play stability of securities market by institutional investors reasons may be their own organizations are the internal cause and defects of the securities market structure and system are not perfect in the external cause and become. in order to make institutional investors can play the role of the stability of securities market, and promote the healthy and orderly development of the securities market, the paper in the last chapter of the bold attempts to put forward the corresponding countermeasure and the suggestion, the prospect for the stability of the chianese securities market made beneficial exploration.