金融市场与机制.docVIP

Chapter1 Role of Financial Markets and Institutions 1. Financial Market (Def.): A market in which financial assets (securities) such as stocks and bonds can be purchased or sold. 2. Broad Classifications of Financial Markets 1) Money versus Capital Markets n Money: Short-Term, 1 Year; High Quality Issuers; Debt Only; Primary Market Focus; Liquidity Market--Low Returns n Capital: Long-Term, 1Yr; RangeofIssuerQuality; Debt and Equity; Secondary Market Focus; Financing Investment--Higher Returns 2) Primary versus Secondary Markets n PRIMARY: New Issue of Securities; Ex