论世界股市的发展

论世界股市的发展

一、On the Development of World Stock Market(论文文献综述)

Yangzi Dongmu[1](2021)在《Study on the relationship between China’s foreign direct investment and the host state-owned business environment》文中认为The business environment of the host country is an important factor for every enterprise in the country of exporting foreign capital.In this study,the host country’s business environment is the independent variable,China’s OFDI stock of the host country is the dependent variable,and then several control variables are added to build the econometric model of China’s OFDI and the host country’s business environment,collected data of 27 countries from 2009 to 2017 for empirical research,the results show that among the five variables representing the host country’s business environment,in addition to commercial environmental regulation,the other four The variables macroeconomic management,legal governance,social protection and the quality of the trade environment are positively correlated with China’s OFDI stocks,but only the regression coefficients of the two variables of commercial environmental regulation and legal governance are significant.The regression coefficient of market size and openness in the control variables is positive and significant.

刘宛婷[2](2021)在《人工智能领域下合同的风险分配(英文)》文中研究指明Since the beginning of the 21st century, human beings have successively entered three new times which are interrelated and slightly different from each other. The era of the network society, the era of big data and the era of artificial intelligence (AI) jointly mark the three sides of the new era of human beings and jointly form a new social era.

Yahong Jiang[3](2021)在《Research on Value Investment of Start-up Companies——A Case Study of Tomboy X & Eridan》文中提出This study investigates how investors can strengthen their value investment by applying the SWOT analysis in the Start-up company context.By conducting a constructive study with two cases,we develop a construction for qualitative and quantitative reference information with the help of the literature on Start-ups and value investment,the data on CB insights.com.This reference information for two Start-ups comprises funding data,investors,web traffic,news articles,patent data,and regulatory filings.This study also associates each information element to the internal factor assessment and external factor assessment of two Start-ups and accordingly develops metrics regarding the value investment.In addition,it demonstrates the different nature of two Start-ups for operating business to highlight the divergent value metrics.The key contributions of this study are the developed construction for qualitative and quantitative reference information and concluding that the founding team,market,product,business model,and competition are important factors for the development of Start-up company and investors’ decision-making.The results of this study,and particularly the developed criterion,build avenues for further research on Start-ups and value investment.

Rong Qiu,Haojun Li[4](2021)在《Warning and Crisis:A Perspective of Short-term International Capital Flows》文中指出With the further deepening of economic globalization,short-term international capital flows are becoming more and more frequent,which have different degrees of impact on the global financial market and the financial stability of various countries in the world.Since the Mexican financial crisis and the Asian financial crisis in 1997,a large number of malignant financial cases caused by short-term international capital flows have emerged in an endless stream,causing people to rethink the international capital flows.The US subprime mortgage crisis in 2008,the European debt crisis in 2010 and the Chinese stock market disaster in 2015 have once again aroused the attention of governments and scholars around the world for short-term international capital flows.Through the analysis of the European debt crisis and the 2015 stock market disaster,this paper studies the role of shortterm international capital flows,and explains it in combination with relevant economic indicators.Finally,taking the development of China’s stock market as the data,it demonstrates the research conclusion:under the guidance of the optimal policy objectives,it must strictly focus on the relevant warning line,strengthen the supervision of short-term international capital flows,Maintain financial stability and security.

Yuanlu Cai[5](2021)在《The Impact of Capital Market Opening on Enterprise Innovation——A Test based on Shanghai-Hong Kong Stock Connect Mechanism》文中研究指明The Shanghai-Hong Kong Stock Connect system, which was formally implemented in 2014, is a representative policy of capital market opening-up, which is of great significance to the innovation and development of China’s real economy. Based on this policy, this paper studies the relationship between capital market opening and enterprise innovation activities by using the difference-in-differences model. The empirical results show that the Shanghai-Hong Kong Stock Connect trading system has a significant promotion effect on enterprise innovation level. Among them, the promotion effect is more obvious for state-owned enterprises with low directors’ horizon and high dependence on external financing. Further research shows that the level of internal control and analysts’ attention can enhance the promotion of enterprise innovation, indicating that the Shanghai-Hong Kong Stock Connect system can promote enterprise innovation by improving the company’s internal control and external information environment. This study provides new empirical evidence for the impact of capital market opening policy on enterprises’ innovation behavior, and enriches the research on its function mechanism. It has important implications for the profound understanding of Shanghai-Hong Kong Stock Connect policy, the continuous promotion of capital market opening process, and the promotion of enterprises’ innovation and development.

Jinyang Yu[6](2021)在《Shanghai-Hong Kong Stock Connect Policy and Corporate Financing Constraints》文中进行了进一步梳理Based on the implementation of Shanghai-Hong Kong Stock Connect policy in 2014, this paper takes the data of Shanghai and Shenzhen A-share listed companies from 2010 to 2018 as samples, and uses DID model to explore the impact of Shanghai-Hong Kong Stock Connect policy implementation on corporate financing constraints. It is found that the implementation of the Shanghai-Hong Kong Stock Connect policy can help to alleviate the financing constraints of enterprises, this effect is more obvious in private enterprises, small enterprises, light tax burden and low growth form enterprises. At the same time, with the increase of information transparency, the implementation of Shanghai-Hong Kong Stock Connect policy can more effectively alleviate the financing constraints of enterprises. Further analysis shows that the implementation of ShanghaiHong Kong Stock Connect policy has effectively increased the scale of external financing, and the problem of corporate financing constraints has been alleviated. For financing constraint as a starting point, this paper makes an in-depth analysis of the role of capital market opening in corporate governance, which has certain practical significance for promoting the development of capital market.

Negash Engidaw Sisay[7](2021)在《经济一体化和中国在撒哈拉以南的非洲国家对外直接投资的溢出效应:一项实证分析》文中研究说明本研究的主要目的是从总体和行业层面分析中非经济一体化及其对中国对外直接投资可能产生的直接和间接溢出效益的前景,并从非洲视角论证“一带一路”倡议(BRI)在非洲的适用性。在各种经济全球化驱动的背景下,中国启动了以市场为导向的经济一体化改革,实施对外开放政策,这些开拓性的计划成功地将中国从一个低收入经济体转变成收入中等偏上的国家,并成为世界制造业的中心。迄今为止,中国已经获得了世界上最多的外国直接投资。同样引人注意的是,自2000年初中国实施“走出去”战略以来,中国在非洲的对外直接投资大幅增加,并在国内发展和海外溢出效应的发展中发挥了其重要的作用。最新报告显示,继外国直接投资流出激增44%,接近GDP的10%,超过增速为36%的外国直接投资流入量之后,中国已成为非洲主要的贸易、贷款和投资伙伴,并在2016年成为世界第二大海外投资国。中国对非洲的对外直接投资,特别是对撒哈拉以南的非洲国家的对外直接投资,呈现了强劲的上升趋势,从2000年的7500万美元飙升至2017年的474亿美元,预计到2020年底,将超过1000亿美元。大量之前的研究指出中国的对外直接投资在撒哈拉以南的非洲国家的基础设施发展和国家间的技术转移方面扮演了无可替代的角色,从而对于国民收入水平的提升起到了根本性的促进作用。然而最近西方一些国家的政府、媒体以及少部分学者散布了与之相反的信息,认为中国投资的迅速扩张及其对非洲的兴趣显然归因于其日益增长的自然资源需求以满足国内发展的需要,对非洲市场机会的渴望,政治力量的扩张和外交合作的需要。实际上,乍一看大多数这些研究的结论和媒体的注意力都集中在光谱的一端,通过对过度偏激的结论的强烈关注来吸引全世界的注意力,这些结论罔顾事实和重要的经济证据而服务于他们自身的投资和贸易利益。尽管如此,大部分撒哈拉以南非洲国家的政府受到对外直接投资对于经济带来的正向预期收益的推动,依然通过提供显着的政策刺激欢迎并吸引大量来自中国的对外直接投资。因此,本文将提供一个全新且稳健的证据,首次尝试填补之前学术界、信息和媒体领域的权威们关于评估中国对外直接投资在撒哈拉以南非洲的程度和可能产生的影响的信息空白。因此,本文提出了以下亟待解答的问题:中国的对外直接投资如何提高国内制造业企业的生产力;中国对外直接投资的动态机制能否促进撒哈拉以南的非洲国家的工业化进程以及中国与撒哈拉以南的非洲国家之间的双边贸易;同时分析“一带一路”倡议如何促进双边贸易,以及对非投资的未来前景。因此,据我们所知,这项研究是第一个从理论视角、政策含义和政府视角去量化和分析中国在非洲投资的动态影响的研究,这将为不断涌现的相关文献研究做出贡献。本文的计量经济学研究模型基于索洛模型-柯布-道格拉斯生产函数方法,贸易引力模型中的多元回归估计,平衡和非平衡面板数据模型,并通过各种稳健性检验对溢出效益影响进行评估。因此,在第一个实证分析中(第三章),这项研究首次评估了中国对撒哈拉以南的非洲地区的外向型对外直接投资的表现及其在横向联系上的国内企业生产率溢出效益对社会经济发展的影响。评估通过对国内制造企业与中国制造业企业生产率溢出的直接比较,分别采用最小二乘法(OLS)和广义矩估计法(GMM)进行评估和稳健性检验。总体来说,结果表明,从事制造业的中国对外直接投资公司的生产率是国内公司的两倍,并且他们的存在还能为同一行业水平的国内公司带来正向的生产率溢出效益。具体来说,调查发现,由于中国公司的存在,在相同的行业水平下,具有高吸收能力的本地企业获得了显着的正溢出效应,而吸收能力低的国内企业遭受了负溢出效应。研究还发现,在有中国制造公司参与的情况下非出口型国内企业获得了显着的正向的生产力溢出效益。其次,该研究首次对中国的对外直接投资和美国在撒哈拉以南的非洲国家的投资的工业发展溢出效益作了比较分析(第四章),以此评估哪个国家的投资对撒哈拉以南的非洲国家的产业转型更重要,并且评估中国在非洲的投资是否对美国在该地区的投资有挤出效应。这项评估分别采用面板数据集回归方法、OLS固定效应和两阶段固定效应方法进行估计、分析和稳健性检验。因此,实证研究总体上提供了强有力的证据,表明中国对外直接投资在撒哈拉以南的非洲国家的联系对工业化产生的显着正向影响超过同期美国投资的影响。此外,该研究还发现,中国对外直接投资在撒哈拉以南的非洲国家的扩大对美国在该地区的投资逐渐产生了挤出效应。最后,在实证研究的最后一部分(第五章),首次分析了“一带一路”倡议和中国对外直接投资对中国和撒哈拉以南的非洲国家双边贸易的影响。这部分主要通过贸易引力模型,平衡面板数据集和多元回归估计进行研究和稳健性检验。结果显示,中国的对外直接投资、经济一体化,投资国家和东道国的GDP以及GDP人均收入变量与中国和撒哈拉以南的非洲国家双边贸易的改善显着正相关。此外,“一带一路”倡议也显示了对双边贸易的积极影响,但研究发现,没有足够的证据来证明这一影响是显着的,因为“一带一路”倡议对促进跨境贸易流动、投资和深化所涉国家之间的区域一体化的显着影响通常需要较长的时间。研究还发现,地理距离和官方汇率的波动对中国与撒哈拉以南的非洲国家的双边贸易产生了显着的负面效应。由于使用美元作为通用货币,汇率波动可能是影响各国国际贸易的主要因素。总体而言,本研究得出结论,中国和非洲整体上在中国对撒哈拉以南非洲国家的对外直接投资中都是非常受益的。

Alessandro Bonfratello[8](2021)在《中国股市国际化的国际政治经济研究》文中研究说明

SARTAJ UL ISLAM[9](2021)在《The Impact Of China Pakistan Economic Corridor On Financial Performance: Evidence From Pakistan Stock Market》文中研究说明

玛丽娜[10](2021)在《宏观经济因素对俄罗斯股票市场收益的影响》文中研究指明

二、On the Development of World Stock Market(论文开题报告)

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三、On the Development of World Stock Market(论文提纲范文)

(1)Study on the relationship between China’s foreign direct investment and the host state-owned business environment(论文提纲范文)

1. Literature review
    1.1 Literature review abroad
    1.2 Domestic literature review
    1.3 Literature review of research methods
2. Theoretical analysis and research hypothesis
3. model building
    3.1 Variable definition and model construction
        3.1.1 Explained variable
        3.1.2 Explanatory variable
        3.1.3 control variable
    3.2 model building
4. empirical research
    4.1 Model regression results
    4.2 System inspection
    4.3 fixed effect regression results
    4.4 Regression analysis of explanatory variables
        4.4.1 Business environment regulation in the host country
        4.4.2 Macroeconomic management of the host country
        4.4.3 The host country governs according to law
        4.4.4 Host country social protection
        4.4.5 Trade environment quality of host country
    4.5 Regression results of control variables:
5. Research conclusions and suggestions
    5.1 research conclusion
    5.2 Suggestions

(3)Research on Value Investment of Start-up Companies——A Case Study of Tomboy X & Eridan(论文提纲范文)

1. Introduction
2. Data and Method
    2.1 Data
    2.2 Method
3. Results and Discussion
    3.1 Internal Factor Assessment
        3.1.1 Strength
        3.1.2 Weakness
    3.2 External Factor Assessment
        3.2.1 Opportunity
        3.2.2 Threat
4. Conclusion

(5)The Impact of Capital Market Opening on Enterprise Innovation——A Test based on Shanghai-Hong Kong Stock Connect Mechanism(论文提纲范文)

1. Introduction
2. Literature Review
    2.1 Opening of Capital Market and Enterprise Innovation
    2.2 Information Disclosure,Financing Efficiency and Enterprise Innovation
    2.3 Internal Control and Enterprise Innovation
3. Research Design
    3.1 Data and Sample
    3.2 Empirical Model
4. Empirical Results
    4.1 Descriptive Statistical Results
    4.2 Correlation Analysis
    4.3 Regression Analysis
        4.3.1 Baseline Results
        4.3.1. 1 Univariate Analysis
        4.3.1. 2 Random Effects and Fixed Effects
        4.3.2 Heterogeneity Analysis
5. Robustness Test
    5.1 PSM-DID Test
    5.2 Changing the Measure of Innovation Level
6. Impact Mechanism
7. Conclusion

(7)经济一体化和中国在撒哈拉以南的非洲国家对外直接投资的溢出效应:一项实证分析(论文提纲范文)

摘要
abstract
LIST OF ABBREVIATIONS
1 Introduction
    1.1 Background of the Study
    1.2 Problem Statement
        1.2.1 Research Objectives and Questions
        1.2.2 Research Hypothesis
    1.3 Theoretical Formulation and Methodological Aspects
    1.4 Contribution of the Study
    1.5 Structure of Dissertation and Logical Integrity
2 Literature Review
    2.1 FDI Definitions and Motives of Developing Countries to attracting FDI
    2.2 Spillover Effects of FDI on Domestic firms’ Productivity Performances
    2.3 Determinants and Impacts of Chinese OFDI Presence in Africa
    2.4 Summary
3 China’s OFDI Productivity Spillovers in SSA: Evidence from Ethiopia
    3.1 Introduction
    3.2 A Multilevel of Chinese-led SEZs and Structural Transformation
    3.3 The Theoretical Models for Empirical Estimation
        3.3.1 Productivity Measures in the Production Function Estimation
    3.4 Empirical Models Estimation
        3.4.1 Productivity Spillover Estimation Measures
    3.5 Description of the Variables
        3.5.1 Measurement of FDI Spilliver Presence
    3.6 Data Sources and Summary of Industry Distribution
    3.7 Empirical Results
        3.7.1 Instrument Validity for Robustness
        3.7.2 Instrumental Variable Results
    3.8 Conclusions
4 OFDI and Industrialization Process in SSA China versus US
    4.1 Introduction
    4.2 The Dynamics of Chinese Presence and Investment in Africa
    4.3 Theoretical and Econometric Models
    4.4 Empirical Model Specifications
        4.4.1 Econometric Models
        4.4.2 Empirical Estimation Procedure
        4.4.3 The Data
    4.5 Empirical Results and Discussion
    4.6 Endogeneity Issues for Robustness
    4.7 Conclusions
5 Analysis of the BRI and China’s OFDI in SSA
    5.1 Introduction
    5.2 Multilateralism and the General Overview of BRI and Major Routes
    5.3 Facts and Figures about China-Africa Trade and OFDI
    5.4 Econometric Model, Data Sources and Empirical Approach
        5.4.1 Econometric Model: Panel Regressions
        5.4.2 Data Sources and Description
        5.4.3 Empirical Estimation Strategy
    5.5 Empirical Results
        5.5.1 Descriptive Statistics of the Main Variables
        5.5.2 Results and Discussions
    5.6 Conclusions
6 Summary, Policy Implication, and Way of Forward
    6.1 Summary of Major Findings
    6.2 General Policy Implications
    6.3 Limitations of the Study and Future Perspectives
References
Author’s Publications Arising from the Ph D Thesis

四、On the Development of World Stock Market(论文参考文献)

  • [1]Study on the relationship between China’s foreign direct investment and the host state-owned business environment[A]. Yangzi Dongmu. Proceedings of 3rd International Conference on Innovations in Economic Management and Social Science (IEMSS 2021), 2021
  • [2]人工智能领域下合同的风险分配(英文)[J]. 刘宛婷. China Legal Science, 2021(06)
  • [3]Research on Value Investment of Start-up Companies——A Case Study of Tomboy X & Eridan[A]. Yahong Jiang. Proceedings of 5th International Conference on Economics and Management; Education; Humanities and Social Sciences (EMEHSS 2021), 2021
  • [4]Warning and Crisis:A Perspective of Short-term International Capital Flows[A]. Rong Qiu,Haojun Li. Proceedings of Second International Conference on management; economics and law, 2021
  • [5]The Impact of Capital Market Opening on Enterprise Innovation——A Test based on Shanghai-Hong Kong Stock Connect Mechanism[A]. Yuanlu Cai. Proceedings of 2nd International Conference on the Frontiers of Innovative Economics and Management (FIEM 2021), 2021
  • [6]Shanghai-Hong Kong Stock Connect Policy and Corporate Financing Constraints[A]. Jinyang Yu. Proceedings of 2nd International Conference on the Frontiers of Innovative Economics and Management (FIEM 2021), 2021
  • [7]经济一体化和中国在撒哈拉以南的非洲国家对外直接投资的溢出效应:一项实证分析[D]. Negash Engidaw Sisay. 浙江大学, 2021
  • [8]中国股市国际化的国际政治经济研究[D]. Alessandro Bonfratello. 北京外国语大学, 2021
  • [9]The Impact Of China Pakistan Economic Corridor On Financial Performance: Evidence From Pakistan Stock Market[D]. SARTAJ UL ISLAM. 山东大学, 2021
  • [10]宏观经济因素对俄罗斯股票市场收益的影响[D]. 玛丽娜. 哈尔滨工业大学, 2021

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论世界股市的发展
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