The Research Of Market Structure And Market Performance Of China’s Equity Fund Industry

In recent years, with the rapid development of open-end funds, equity funds more andmore draw people’s attention. At the same time, global securities investment fund industrygiant is gradually entering our country, which will have a huge impact on the pattern ofChina’s fund industry. Due to a variety of different types of funds between huge difference, ifthe analysis of the entire industry, the results are not so precise, so, we choose equity fundsspecific analysis.Firstly, the theoretical knowledge about the financial industry market structure andperformance are described, Review process and the status of research and development athome and abroad related theories. Secondly, the evolution of China’s stock market fundindustry structures are briefly introduced, and the market structure of China’s stock fundindustry empirical analysis. Use of empirical Panzar-Rosse model, the selected data for the2010to2012period is greater than or equal to the establishment of a three-year stock funds.Through empirical analysis, our stock fund industry in a monopolistic competition amongmarket structure and competition mainly dominated. In addition, market concentration,barriers to entry and exit barriers, etc., detailed description of the characteristics of China’sstock fund industry market structure and causes. Thirdly, the stock market performance of thefund industry for a simple analysis using analytical results of the market structure and marketperformance, the relationship between equity fund industry market structure and performancebetween empirical research. Data selection2010to2012before the stock funds issued shareof equity funds accounted for eight of the fund company. After the empirical analysis of therelationship between market structure and performance to meet the pure conspiracyhypothesis that by increasing market concentration can improve the performance of equityfunds. In addition, market performance and stock price also received GDP impact of externaleconomic environment. Finally, according to the results of the analysis on China’s stock fundindustry put forward relevant policies and views, so that our equity funds industry able torapid and healthy development.