融资融券对我国证券市场的影响探析.pdfVIP

2009 12 D ec. 2009 22 4 Journa l of G uizhou Comm ercia l College Vo l. 22 N o. 4 * 融资融券对我国证券市场的影响探析 王丽坤 ( , 050061 : 2008年 10 月, 中国证监会宣布正式启动融资融券业务试点对整 个证券市场而言, 融资融券业务的推出将 接增加资本市场交易的活跃程度, 为证券市场开拓新的资金来源通 过分析我国融资融券的推行对市场的影响, 从宏观和微观的层面分析了融资融券对整 个证券市 场以及市场微观主体的影响, 进而对我国融资融券发展提出了若干建议 : 融资融券; 市场影响; 风险防范 : F832. 5 : A : 1671- 9549 ( 2009 04 - 0012- 05 The effects of m argin to ch ina securities m arket W ang L i-kun (H e i university of econom ics and bu siness, Shijiazhuang, H ebe i 05006 1 A bstrac t: In O ctober 200 8, China Securities R egu la tory Comm ission announced to launch m arg in trad ing bu siness pilot. T o the entire secur ities m arket, the introduction of m arg in trad ing bu siness w ill directly inc rease the leve l o f ac tiv ity in the cap ital ma rket transactions and deve lop new sources of fund ing for the securitiesm arke t. T his paper analyzes the in- fluence of mi plem entation o fm a rg in trading in Ch ina and therefore m akes a num be r o f recomm enda tions on the deve lop- m ent o fm arg in trading in Ch ina. China s m arg in trading bu siness advances stage by stage on the bas is o f steady progress. It w ill form M a rg in mode of opera tion suiting to Ch ina s nationa l cond itions. K ey w ord s: M arg in; M arke t mi pact; M ode Se lection 2006 7 l, 5 ,