(试论影响我国股票市场的主要因素2.doc

试论影响我国股票市场的主要因素 摘 要 自1990年中国深圳、上海证券交易所成立，标明中国企业从间接融资向直 接融资、股权融资的转变，中国证券市场已成为中国经济格局中最重要的组成 部分。中国经济改革开放以来发展最快、影响最广的是证券市场，在其发展成 长的历程中，经历了极度的曲折和动荡，它不仅是中国社会主义市场经济建立 发展完善过程中最活跃、最引人注目的市场，而且也是国有及国有控股企业股份制改造建立现代企业制度的主战场之一，成为了对社会各阶层触动最深的领域。Abstract Since the establishment of Shenzhen Stock Exchange and Shanghai Stock Exchange in 1990, it is significant milestone that Chinese enterprises change its financing channel from indirect to direct financing and equity financing; the China’s Securities Market has become the most important part in China economy. With it’s by speedy development and deep impact, the China’s Securities Market has developed over the past decade of China Economy Reforming and experienced the utmost sinuosity and turbulence. It has been not only the most active and attractive market in the process of the transition of planning economy to market oriented economy in China; but also the main field of restructuring and refining state owned or controlled companies to establish modern company institutes. As Securities Market being the most concentrated place of every level of society, in where fortunes transit most quickly and monetary market and capital market intersect, the Securities Market has been highly concerned by every economic entity. This article from the internal factors (asset structure, the market system) and external (macro-economic in the GDP, exchange rate, inflation) on Chinas two stock markets should be carried out to explore. On the internal aspects of Chinas stock market system defects and the existence of a listed company share reform has made a focus on analysis. In the external context, the article on the GDP, exchange rates and the total market value of listed companies have done a correlation between the linear regression analysis, indicating the existence of the relationship between the three. Key words: Market system; Equity reform; Inflation; Macroeconomic; 目 录 1 1 1.1我国股票市场的发展经历 1 1.2股票市场的主要改革措施 1