我國結構性金融產品的發(fā)展創(chuàng)新研究
發(fā)布時間：2018-10-17 22:34
【摘要】：改革開放以來，中國經濟日新月異，綜合國力顯著提升，國民生活隨之改善，對投資工具的需求也越來越旺盛。鑒于當前的經濟發(fā)展趨勢，我國的金融衍生產品市場迫切需要引進新的結構性金融產品。眾所周知，全球金融市場的結構性金融產品萌芽于上世紀80年代的美國金融市場，隨后，，該產品以其銳不可當之勢進入歐洲市場并受到廣大投資的競相追捧。隨后，在2002年的九月份，外匯結構性存款業(yè)務開始進入中國國內市場，中國光大銀行率先在國內推出了此產品，隨后國內許多中外資銀行增加了外匯結構性存款業(yè)務。結構性金融產品是我國金融衍生產品市場業(yè)務的一次創(chuàng)新，為投資機構帶來新的利潤增長點的一種業(yè)務。它以其獨有的創(chuàng)新、專業(yè)、靈活的特點快速發(fā)展起來，成為我國理財市場上一顆新星，越來越受到個人投資者和各大商業(yè)銀行的青睞和追捧。由此可見，針對全球的金融理財市場而言，結構性金融產品是一種重要金融創(chuàng)新工具。對于國外市場，到目前為止，雖然結構性金融產品發(fā)展的時間比較長，但是廣大學者的研究成果主要集中在如何對該類產品進行定價的實證檢驗方面的研究上。而國內市場，由于結構性金融產品引入的時間不久，學界對此產品的認識不夠充分詳細，迄今為止，未能引起學術界的足夠重視。這主要是因為中國結構性金融產品推出的時間較短，資本市場不成熟，在流動和設計方面中存在著許多問題。諸如，各種金融衍生產品市場不夠健全，產品本身的設計創(chuàng)新水平有限，政府和銀行監(jiān)管制度不完善，從業(yè)人員專業(yè)性水平不佳等問題將制約其發(fā)展。那么，如何更有效率的解決該類問題，將會對我國結構性金融產品的順利發(fā)展起著重要的理論與現實意義。因此，本文針對我國現狀，借鑒了國際發(fā)展經驗，深入研究，以使結構性金融產品能夠得到順利的發(fā)展。 針對本文的創(chuàng)新問題，主要有以下三個方面：首先本文立足國內日益增強的金融理財產品需求，以前景光明、設計專業(yè)靈活的結構性金融產品為研究對象。收集數據對結構性金融產品在市場中的各個方面的表現進行了系統(tǒng)的總結，并對發(fā)現的問題進行全面的原因分析，從多個角度進行了研究和探討。其次，通過研究國際市場上結構性金融產品的發(fā)展（以歐美、亞太兩市場），總結經驗教訓并得出啟示。在以上研究的基礎上，提出有針對性的、有較強可操作性的發(fā)展建議。再則，與傳統(tǒng)理財產品研究相比，盡可能的少用復雜公式，利用比較分析等方法，通過數據比較得出結論，研究方法比較獨特。 隨著我國理財業(yè)務蓬勃發(fā)展，結構性金融產品以其專業(yè)性和靈活性的特點備受關注，已經成為銀行新的利潤增長點，未來擁有巨大的發(fā)展空間。無論從投資者理財需求和銀行金融機構的業(yè)務創(chuàng)新方面的需求，還是國內外銀行金融機構的相互競爭的方面來看，我們都應該對結構性金融產品進行深入探討一番。因此，本文將系統(tǒng)的介紹結構性金融產品的相關知識，使讀者對該領域有一定的理解與認識。著重研究了我國結構性金融產品存在的問題并進行總結和原因分析，同時研究了國際上結構性金融產品的發(fā)展狀況，借鑒成熟市場的發(fā)展經驗，使我國在推廣結構性金融產品方面得到一些啟示。鑒于對以上情況的研究，本文在此給出了針對我國結構性金融產品的發(fā)展現狀，并相應提出一些適應我國基本國情的發(fā)展建議。文章的基本框架是，第一部分是導論，主要從結構性金融產品研究的背景和意義，對國內外結構性金融產品的研究現狀進行了綜述；第二部分全面系統(tǒng)的描述了結構性金融產品的基礎框架；第三部分針對我國結構性金融產品的存在發(fā)展狀況，細致分析了結構性金融產品發(fā)展中存在的常見問題及原因；第四部分借鑒了國外結構性金融產品的發(fā)展經驗，深入總結了歐美、亞太地區(qū)的發(fā)展現狀，從中獲得靈感；第五部分對我國結構性金融的未來發(fā)展趨勢進行展望并提出針對性的建議，得出結論。
[Abstract]:Since the reform and opening-up, China's economy is changing with each passing day, the overall national strength is remarkably improved, the national life is improved, and the demand for investment tools is also increasing. In view of the current economic development trend, there is an urgent need to introduce new structural financial products in China's financial derivatives market. As is well known, the structural financial products of the global financial markets sprout in the US financial markets of the 1980s, after which the product enters the European market with its sharp momentum and is being pursued by the vast majority of investment. Subsequently, in September 2002, the foreign exchange structured deposit business began to enter China's domestic market. China Everbright Bank took the lead in introducing the product in China, and then many foreign banks in China increased their foreign exchange structure deposit business. Structural financial product is one of the innovation of the market business of financial derivative products in our country, which brings new profit growth point to the investment organization. With its unique innovation, professional and flexible characteristics, it has become a new star in our country's financial market, and has attracted more and more attention from individual investors and big commercial banks. It can be seen that structural financial products are an important financial innovation tool for the global financial management market. So far, although the time of development of structured finance products is relatively long, the research results of many scholars mainly focus on the research on how to price the products. In the domestic market, because of the time of introduction of structural financial products, the awareness of this product is not sufficiently detailed, so far enough attention has not been paid to the academic circles. This is mainly due to the short time of the introduction of structural financial products in China, the immature capital market, and many problems in the aspects of flow and design. For example, the market of various financial derivative products is not perfect, the design innovation level of the product itself is limited, the government and the bank supervision system are not perfect, the professional level of the staff is not good, etc. will restrict its development. So how to solve these problems more efficiently will play an important theoretical and practical significance for the smooth development of our structural financial products. Therefore, in the light of the present situation of our country, this paper draws on the international development experience and deeply studies the international development experience, so that the structural financial products can be developed smoothly. In view of the innovation of this paper, we mainly have the following three aspects: Firstly, based on the domestic and ever-increasing demand of financial wealth management products, this paper studies the structural financial products with bright future and flexible design. The collection of data has systematically summarized the performance of structural financial products in all aspects of the market, and analyzed the problems found, and carried out the research from several angles. Second, by studying the development of structural financial products in the international market (in Europe and America, the Asia-Pacific two markets), summarize the lessons and draw lessons Enlightenment. On the basis of the above research, it is pointed out that it has the development of strong operability. It is suggested that, compared with the traditional wealth management product research, as much as possible, the complicated formula is used as much as possible, and the comparison analysis is used to draw the conclusion that the research method is compared with the traditional wealth management product research method. With the vigorous development of our country's wealth management business, the structural financial products have been paid more attention to their professional and flexible characteristics, and have become a new growth point of the bank and have huge future. The development space, whether from the investor's financial needs and the banking financial institution's business innovation demand, or the domestic and foreign bank financial institutions competition, we should all be deep in the structural financial products In this paper, the paper introduces the relevant knowledge of structural financial products, which makes the readers have certain knowledge in this field. This paper focuses on the problems existing in China's structural financial products, sums up and analyzes the reasons, and studies the development situation of the structural financial products in the world, and draws on the development experience of the mature market, so that our country has to promote the structural financial products. In view of the above research, this paper gives the development status of structural financial products in China, and puts forward some suggestions to adapt to our country's basic national conditions. The basic framework of the article is that the first part is an introduction, mainly from the background and significance of the structural financial product research, the research status of the structural financial products at home and abroad is summarized, the second part is the description of the structural financial product systematically. The third part analyzes the common problems and causes in the development of structural financial products. The fifth part looks forward to the future development trend of China's structural finance and puts forward some suggestions.
【學位授予單位】：河南大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F832.2
本文編號：2278241
[Abstract]:Since the reform and opening-up, China's economy is changing with each passing day, the overall national strength is remarkably improved, the national life is improved, and the demand for investment tools is also increasing. In view of the current economic development trend, there is an urgent need to introduce new structural financial products in China's financial derivatives market. As is well known, the structural financial products of the global financial markets sprout in the US financial markets of the 1980s, after which the product enters the European market with its sharp momentum and is being pursued by the vast majority of investment. Subsequently, in September 2002, the foreign exchange structured deposit business began to enter China's domestic market. China Everbright Bank took the lead in introducing the product in China, and then many foreign banks in China increased their foreign exchange structure deposit business. Structural financial product is one of the innovation of the market business of financial derivative products in our country, which brings new profit growth point to the investment organization. With its unique innovation, professional and flexible characteristics, it has become a new star in our country's financial market, and has attracted more and more attention from individual investors and big commercial banks. It can be seen that structural financial products are an important financial innovation tool for the global financial management market. So far, although the time of development of structured finance products is relatively long, the research results of many scholars mainly focus on the research on how to price the products. In the domestic market, because of the time of introduction of structural financial products, the awareness of this product is not sufficiently detailed, so far enough attention has not been paid to the academic circles. This is mainly due to the short time of the introduction of structural financial products in China, the immature capital market, and many problems in the aspects of flow and design. For example, the market of various financial derivative products is not perfect, the design innovation level of the product itself is limited, the government and the bank supervision system are not perfect, the professional level of the staff is not good, etc. will restrict its development. So how to solve these problems more efficiently will play an important theoretical and practical significance for the smooth development of our structural financial products. Therefore, in the light of the present situation of our country, this paper draws on the international development experience and deeply studies the international development experience, so that the structural financial products can be developed smoothly. In view of the innovation of this paper, we mainly have the following three aspects: Firstly, based on the domestic and ever-increasing demand of financial wealth management products, this paper studies the structural financial products with bright future and flexible design. The collection of data has systematically summarized the performance of structural financial products in all aspects of the market, and analyzed the problems found, and carried out the research from several angles. Second, by studying the development of structural financial products in the international market (in Europe and America, the Asia-Pacific two markets), summarize the lessons and draw lessons Enlightenment. On the basis of the above research, it is pointed out that it has the development of strong operability. It is suggested that, compared with the traditional wealth management product research, as much as possible, the complicated formula is used as much as possible, and the comparison analysis is used to draw the conclusion that the research method is compared with the traditional wealth management product research method. With the vigorous development of our country's wealth management business, the structural financial products have been paid more attention to their professional and flexible characteristics, and have become a new growth point of the bank and have huge future. The development space, whether from the investor's financial needs and the banking financial institution's business innovation demand, or the domestic and foreign bank financial institutions competition, we should all be deep in the structural financial products In this paper, the paper introduces the relevant knowledge of structural financial products, which makes the readers have certain knowledge in this field. This paper focuses on the problems existing in China's structural financial products, sums up and analyzes the reasons, and studies the development situation of the structural financial products in the world, and draws on the development experience of the mature market, so that our country has to promote the structural financial products. In view of the above research, this paper gives the development status of structural financial products in China, and puts forward some suggestions to adapt to our country's basic national conditions. The basic framework of the article is that the first part is an introduction, mainly from the background and significance of the structural financial product research, the research status of the structural financial products at home and abroad is summarized, the second part is the description of the structural financial product systematically. The third part analyzes the common problems and causes in the development of structural financial products. The fifth part looks forward to the future development trend of China's structural finance and puts forward some suggestions.
【學位授予單位】：河南大學
【學位級別】：碩士
【學位授予年份】：2014
【分類號】：F832.2
【共引文獻】
相關碩士學位論文 前8條
1 孫德華;我國商業(yè)銀行個人理財業(yè)務研究[D];河北大學;2013年
2 李燕飛;我國商業(yè)銀行個人理財服務質量影響因素研究[D];西北農林科技大學;2013年
3 周昕xY;銀行結構化理財產品定價分析[D];清華大學;2013年
4 譚婧然;我國商業(yè)銀行人民幣理財產品收益率影響因素研究[D];中國海洋大學;2013年
5 黃釗釗;銀行理財產品收益率與實體經濟景氣程度相關性研究[D];廈門大學;2014年
6 吳盈盈;國內結構性理財產品定價及收益研究[D];首都經濟貿易大學;2014年
7 張必成;我國商業(yè)銀行結構化理財產品設計研究[D];內蒙古大學;2014年
8 韓萌;基于VaR的結構性理財產品市場風險管理研究[D];廣東財經大學;2013年
本文編號：2278241
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