Chapter 4 Organization and Functioning of Securities Markets(投资分析与投资组合管理)解析.pptVIP

下载本文档

7
0
约 75页
2016-03-25 发布于湖北
举报
版权申诉

Chapter 4 Organization and Functioning of Securities Markets(投资分析与投资组合管理)解析.ppt

1、原创力文档（book118）网站文档一经付费（服务费），不意味着购买了该文档的版权，仅供个人/单位学习、研究之用，不得用于商业用途，未经授权，严禁复制、发行、汇编、翻译或者网络传播等，侵权必究。。
2、本站所有内容均由合作方或网友上传，本站不对文档的完整性、权威性及其观点立场正确性做任何保证或承诺！文档内容仅供研究参考，付费前请自行鉴别。如您付费，意味着您自己接受本站规则且自行承担风险，本站不退款、不进行额外附加服务；查看《如何避免下载的几个坑》。如果您已付费下载过本站文档，您可以点击这里二次下载。
3、如文档侵犯商业秘密、侵犯著作权、侵犯人身权等，请点击“版权申诉”（推荐），也可以打举报电话：400-050-0827(电话支持时间：9:00-18:30)。
4、该文档为VIP文档，如果想要下载，成为VIP会员后，下载免费。
5、成为VIP后，下载本文档将扣除1次下载权益。下载后，不支持退款、换文档。如有疑问请联系我们。
6、成为VIP后，您将拥有八大权益，权益包括：VIP文档下载权益、阅读免打扰、文档格式转换、高级专利检索、专属身份标志、高级客服、多端互通、版权登记。
7、VIP文档为合作方或网友上传，每下载1次，网站将根据用户上传文档的质量评分、类型等，对文档贡献者给予高额补贴、流量扶持。如果你也想贡献VIP文档。上传文档

Lecture Presentation Software to accompanyInvestment Analysis and Portfolio ManagementSeventh Editionby Frank K. Reilly Keith C. Brown Chapter 4 Organization and Functioning of Securities Markets Questions to be answered: What is the purpose and function of a market? What are the characteristics that determine the quality of a market? What is the difference between a primary and secondary capital market and how do these markets support each other? Chapter 4 Organization and Functioning of Securities Markets What are the national exchanges and how are the major security markets becoming linked (what is meant by “passing the book”)? What are the regional stock exchanges and the over-the-counter (OTC) market? What are the alternative market-making arrangements available on the exchanges and the OCT market? Chapter 4 Organization and Functioning of Securities Markets What are the major types of orders available to investors and market makers? What are the major functions of a specialist on the NYSE and how does the specialist differ from the central market maker on other exchanges? What are the major factors that have caused the significant changes in markets around the world in the past 10 to 15 years? Chapter 4 Organization and Functioning of Securities Markets What are some of the major changes in world capital markets expected over the next decade? What is a market? Brings buyers and sellers together to aid in the transfer of goods and services Does not require a physical location Both buyers and sellers benefit from the market Characteristics of a Good Market Availability of past transaction information must be timely and accurate Liquidity marketability price continuity depth Low Transaction costs Rapid adjustment of prices to new information Organization of the Securities Market Primary markets Market where new securities are sold and funds go to issuing unit Secondary markets Market where outstanding securities are bought and sold by investors. The