對ETF在中國發(fā)展的研究與探討.pdf

1、771439援旦夫擎碩士學位論文(專業(yè)學位)學校代碼：10246學號：022025470對ETF在中國發(fā)展的研究與探討系(所)：管理學院專業(yè)：J。商管理姓名：胡婷指導教師：范龍振完成日期：2005年4月30日曩麓瓣t勿壘立嫻旨。一Q22Q2!!Q塑蛙盟E!E壟圭旦筮羼曲拯立點盟塞AbstractExchange—TradedFunds，orETFs，areindexfundsthattradejustlikestocksonmajors

2、tockexchangesTheyhelptheinvestorfocusonwhatismostimportantchoiceofassetclassesTheycouldbeeasilytradedandhelptheinvestortoachieveinvestmentoravoidrisk，ETFshavebeenextremelysuccessfullyinAmericaandotherdevelopedcountriesan

3、dareassincetheirintroductionSPDRofAmericain1993Alongwithsustained，rapidandsoundeconomicgrowthinChina，ChinesestockmarkethasbeenachievementgreatlyrecentyearsThenewproductsandderivativesecuritiesemergeinendlesslyThefirstETF

4、productofChina，Shanghaistock50ETF，tradedonShanghaistockexchangefromFeb23，2005Sheisneitherthesimple“amendment”onourcurrentsecuritiesnorthe‘‘copy”ontheoverseassecuritiesSheisthesignificantinnovationandherissuingwillinfluen

5、ceandimproveourstockmarketgreatlyToChinesesecuritiesmarket，indexfundsarestillnewthingsandthereisgreatandpotentialspaceforETFsdevelopmentWhileoursecuritiesmarketexistslimitationonsystematpresentandSheisn’teffectivecapital

6、marketiikethematureanddevelopedsecuritiesmarketsFurt衄ermoretherearen’tpoliceop【axrelieflikeAmericaOurETFswillfacemoreriskandchallenge1essincomeandreturnatthebeginningthanETFsofAmericaitalsoseemsimpossibleinshorttimeforou

7、rETFstokeeprapiddevelopmentandactfunctiononsectIritiesmarketasETFsofAmericaThisarticlebasedonETFsbackgroundanditscharacteristicsandsuccessindevelopedcountriesandareas，studiedandanalyzedourfirstETFOilindexchoosingandarbit