對(duì)ETF在中國(guó)發(fā)展的研究與探討.pdf

1、771439援旦夫擎碩士學(xué)位論文(專業(yè)學(xué)位)學(xué)校代碼：10246學(xué)號(hào)：022025470對(duì)ETF在中國(guó)發(fā)展的研究與探討系(所)：管理學(xué)院專業(yè)：J。商管理姓名：胡婷指導(dǎo)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(diǎn)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