發(fā)布時(shí)間：2018-10-17 22:34

【摘要】：改革開放以來(lái)，中國(guó)經(jīng)濟(jì)日新月異，綜合國(guó)力顯著提升，國(guó)民生活隨之改善，對(duì)投資工具的需求也越來(lái)越旺盛。鑒于當(dāng)前的經(jīng)濟(jì)發(fā)展趨勢(shì)，我國(guó)的金融衍生產(chǎn)品市場(chǎng)迫切需要引進(jìn)新的結(jié)構(gòu)性金融產(chǎn)品。眾所周知，全球金融市場(chǎng)的結(jié)構(gòu)性金融產(chǎn)品萌芽于上世紀(jì)80年代的美國(guó)金融市場(chǎng)，隨后，，該產(chǎn)品以其銳不可當(dāng)之勢(shì)進(jìn)入歐洲市場(chǎng)并受到廣大投資的競(jìng)相追捧。隨后，在2002年的九月份，外匯結(jié)構(gòu)性存款業(yè)務(wù)開始進(jìn)入中國(guó)國(guó)內(nèi)市場(chǎng)，中國(guó)光大銀行率先在國(guó)內(nèi)推出了此產(chǎn)品，隨后國(guó)內(nèi)許多中外資銀行增加了外匯結(jié)構(gòu)性存款業(yè)務(wù)。結(jié)構(gòu)性金融產(chǎn)品是我國(guó)金融衍生產(chǎn)品市場(chǎng)業(yè)務(wù)的一次創(chuàng)新，為投資機(jī)構(gòu)帶來(lái)新的利潤(rùn)增長(zhǎng)點(diǎn)的一種業(yè)務(wù)。它以其獨(dú)有的創(chuàng)新、專業(yè)、靈活的特點(diǎn)快速發(fā)展起來(lái)，成為我國(guó)理財(cái)市場(chǎng)上一顆新星，越來(lái)越受到個(gè)人投資者和各大商業(yè)銀行的青睞和追捧。由此可見，針對(duì)全球的金融理財(cái)市場(chǎng)而言，結(jié)構(gòu)性金融產(chǎn)品是一種重要金融創(chuàng)新工具。對(duì)于國(guó)外市場(chǎng)，到目前為止，雖然結(jié)構(gòu)性金融產(chǎn)品發(fā)展的時(shí)間比較長(zhǎng)，但是廣大學(xué)者的研究成果主要集中在如何對(duì)該類產(chǎn)品進(jìn)行定價(jià)的實(shí)證檢驗(yàn)方面的研究上。而國(guó)內(nèi)市場(chǎng)，由于結(jié)構(gòu)性金融產(chǎn)品引入的時(shí)間不久，學(xué)界對(duì)此產(chǎn)品的認(rèn)識(shí)不夠充分詳細(xì)，迄今為止，未能引起學(xué)術(shù)界的足夠重視。這主要是因?yàn)橹袊?guó)結(jié)構(gòu)性金融產(chǎn)品推出的時(shí)間較短，資本市場(chǎng)不成熟，在流動(dòng)和設(shè)計(jì)方面中存在著許多問(wèn)題。諸如，各種金融衍生產(chǎn)品市場(chǎng)不夠健全，產(chǎn)品本身的設(shè)計(jì)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(wèn)題將制約其發(fā)展。那么，如何更有效率的解決該類問(wèn)題，將會(huì)對(duì)我國(guó)結(jié)構(gòu)性金融產(chǎn)品的順利發(fā)展起著重要的理論與現(xiàn)實(shí)意義。因此，本文針對(duì)我國(guó)現(xiàn)狀，借鑒了國(guó)際發(fā)展經(jīng)驗(yàn)，深入研究，以使結(jié)構(gòu)性金融產(chǎn)品能夠得到順利的發(fā)展。 針對(duì)本文的創(chuàng)新問(wèn)題，主要有以下三個(gè)方面：首先本文立足國(guó)內(nèi)日益增強(qiáng)的金融理財(cái)產(chǎn)品需求，以前景光明、設(shè)計(jì)專業(yè)靈活的結(jié)構(gòu)性金融產(chǎn)品為研究對(duì)象。收集數(shù)據(jù)對(duì)結(jié)構(gòu)性金融產(chǎn)品在市場(chǎng)中的各個(gè)方面的表現(xiàn)進(jìn)行了系統(tǒng)的總結(jié)，并對(duì)發(fā)現(xiàn)的問(wèn)題進(jìn)行全面的原因分析，從多個(gè)角度進(jìn)行了研究和探討。其次，通過(guò)研究國(guó)際市場(chǎng)上結(jié)構(gòu)性金融產(chǎn)品的發(fā)展（以歐美、亞太兩市場(chǎng)），總結(jié)經(jīng)驗(yàn)教訓(xùn)并得出啟示。在以上研究的基礎(chǔ)上，提出有針對(duì)性的、有較強(qiáng)可操作性的發(fā)展建議。再則，與傳統(tǒng)理財(cái)產(chǎn)品研究相比，盡可能的少用復(fù)雜公式，利用比較分析等方法，通過(guò)數(shù)據(jù)比較得出結(jié)論，研究方法比較獨(dú)特。 隨著我國(guó)理財(cái)業(yè)務(wù)蓬勃發(fā)展，結(jié)構(gòu)性金融產(chǎn)品以其專業(yè)性和靈活性的特點(diǎn)備受關(guān)注，已經(jīng)成為銀行新的利潤(rùn)增長(zhǎng)點(diǎn)，未來(lái)?yè)碛芯薮蟮陌l(fā)展空間。無(wú)論從投資者理財(cái)需求和銀行金融機(jī)構(gòu)的業(yè)務(wù)創(chuàng)新方面的需求，還是國(guó)內(nèi)外銀行金融機(jī)構(gòu)的相互競(jìng)爭(zhēng)的方面來(lái)看，我們都應(yīng)該對(duì)結(jié)構(gòu)性金融產(chǎn)品進(jìn)行深入探討一番。因此，本文將系統(tǒng)的介紹結(jié)構(gòu)性金融產(chǎn)品的相關(guān)知識(shí)，使讀者對(duì)該領(lǐng)域有一定的理解與認(rèn)識(shí)。著重研究了我國(guó)結(jié)構(gòu)性金融產(chǎn)品存在的問(wèn)題并進(jìn)行總結(jié)和原因分析，同時(shí)研究了國(guó)際上結(jié)構(gòu)性金融產(chǎn)品的發(fā)展?fàn)顩r，借鑒成熟市場(chǎng)的發(fā)展經(jīng)驗(yàn)，使我國(guó)在推廣結(jié)構(gòu)性金融產(chǎn)品方面得到一些啟示。鑒于對(duì)以上情況的研究，本文在此給出了針對(duì)我國(guó)結(jié)構(gòu)性金融產(chǎn)品的發(fā)展現(xiàn)狀，并相應(yīng)提出一些適應(yīng)我國(guó)基本國(guó)情的發(fā)展建議。文章的基本框架是，第一部分是導(dǎo)論，主要從結(jié)構(gòu)性金融產(chǎn)品研究的背景和意義，對(duì)國(guó)內(nèi)外結(jié)構(gòu)性金融產(chǎn)品的研究現(xiàn)狀進(jìn)行了綜述；第二部分全面系統(tǒng)的描述了結(jié)構(gòu)性金融產(chǎn)品的基礎(chǔ)框架；第三部分針對(duì)我國(guó)結(jié)構(gòu)性金融產(chǎn)品的存在發(fā)展?fàn)顩r，細(xì)致分析了結(jié)構(gòu)性金融產(chǎn)品發(fā)展中存在的常見問(wèn)題及原因；第四部分借鑒了國(guó)外結(jié)構(gòu)性金融產(chǎn)品的發(fā)展經(jīng)驗(yàn)，深入總結(jié)了歐美、亞太地區(qū)的發(fā)展現(xiàn)狀，從中獲得靈感；第五部分對(duì)我國(guó)結(jié)構(gòu)性金融的未來(lái)發(fā)展趨勢(shì)進(jìn)行展望并提出針對(duì)性的建議，得出結(jié)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(xué)位授予單位】：河南大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2014
【分類號(hào)】：F832.2

【共引文獻(xiàn)】

相關(guān)碩士學(xué)位論文 前8條

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2 李燕飛;我國(guó)商業(yè)銀行個(gè)人理財(cái)服務(wù)質(zhì)量影響因素研究[D];西北農(nóng)林科技大學(xué);2013年

3 周昕xY;銀行結(jié)構(gòu)化理財(cái)產(chǎn)品定價(jià)分析[D];清華大學(xué);2013年

4 譚婧然;我國(guó)商業(yè)銀行人民幣理財(cái)產(chǎn)品收益率影響因素研究[D];中國(guó)海洋大學(xué);2013年

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6 吳盈盈;國(guó)內(nèi)結(jié)構(gòu)性理財(cái)產(chǎn)品定價(jià)及收益研究[D];首都經(jīng)濟(jì)貿(mào)易大學(xué);2014年

7 張必成;我國(guó)商業(yè)銀行結(jié)構(gòu)化理財(cái)產(chǎn)品設(shè)計(jì)研究[D];內(nèi)蒙古大學(xué);2014年

8 韓萌;基于VaR的結(jié)構(gòu)性理財(cái)產(chǎn)品市場(chǎng)風(fēng)險(xiǎn)管理研究[D];廣東財(cái)經(jīng)大學(xué);2013年

本文編號(hào)：2278241