本文将研究的潜在因素引起股票价格的变化在不同的条件。因此,必须了解这些差异背后的经济和制度影响,中国股市的特点。在这一节中,我总结了中国股市的历史。中国经济已经从一个中央计划经济(CPE),这是诞生于1949年,自1978年以来,更以市场为导向的经济。中国的经济转型已经伴随着一个伟大的社会成就自1970年代末。然而,CPE的有一些固有的缺陷,如有缺陷的功能规划机制,垄断,non-contestable地位的国有企业(国有企业),缺乏足够的激励,缺乏金融制裁,宏观经济,次优的资源分配(高,2006)。在过去的三十年里,中国伟大的经济转型成功伴随着巨大和复杂的社会变革,以正式报告了自1980年以来每年9.5%的GDP增长率(Lindbeck,2008)。中国的经济增长率一直在世界上最高的,尤其是自1990年以来。
英国格洛斯特论文代写:潜在因素股票价格
This dissertation will examine the potential factors that cause the variation of stock prices in different conditions. Therefore, it is imperative to understand the economic and institutional influence behind such differences and the characteristics of Chinese stock market.In this section, I summarize the history of the Chinese stock market. China’s economy has changed from a centrally-planned economy (CPE), which was introduced in 1949, to a more market orientated economy since 1978. China’s economic transition has been accompanied by a great social achievement since the late 1970s. However, there were some inherent deficiencies of the CPE, like the defective functioning of the planning mechanism, the monopolistic, non-contestable position of the State-Owned Enterprises (SOEs), the lack of adequate incentives, the lack of financial sanctions, the macro-economic, suboptimal allocation of resources (Gao, 2006 ).During the last three decades, China’s great successful economic transition has been accompanied by huge and complex social change, with an officially reported GDP growth rate of 9.5 percent per year since 1980 (Lindbeck, 2008). The growth rate of China’s economic has been among the highest in the world, especially since 1990.
