The income distribution effects of the stock market--论文代写范文
2016-04-26 来源: 51Due教员组 类别: Paper范文
51Due论文代写网精选paper代写范文:“The income distribution effects of the stock market”。所谓的收入分配效应是指证券市场的制度缺陷导致许多问题在股票市场操作，事务，监督和其他方面的影响，股票市场功能正常的影响。例如，资源配置扭曲，价值发现和评价功能障碍，不仅导致股票市场参与者和非参与者之间不断扩大的收入差距，但也导致了扭曲的兴趣不同的参与之间的关系。
So-called income distribution effects means stock market system defects cause many problems in the stock market operations, transaction, supervision and other aspects, affecting the normal effects of the stock market functions. For example, twisted resource allocation, dysfunction of value discovery and evaluation, not only lead to the widening income gap between the stock market participants and non-participants, but also result in the distorted interested relationship between different participations. Due to the risk of stock market exchange and the unknown of stock market investment, the stock market of any country can’t ensure that every investor to obtain balanced investment results, let alone positive investment results. Because of the differences of information collection, processing, analysis and the amount of funds owned, different individuals may obtain different investment gains in the market. But if income inequality persists in the stock market of one country, indicating the existence of income distribution effects in the stock market of this country. Even in world's most developed and prosperous U.S. stock market (with more than 200 years of history), no one will venture to deny the existence of income distribution effects. But after all, the U.S. stock market relies on the most developed real economy with the largest community of listing corporation, and the most perfect equity incentive arrangements and corporate governance. In addition, the U.S. stock market has the most powerful institutional investors and most active secondary market exchange. The investment philosophy respected by the investors is the most mature, and the activism of institutional investors well emphasizes the productive development of the stock market and curb the development of allocation functions.
The distinctive features of the stock market include:
1) Positive and negative effects exist side by side
The stock market investment is one kind of high yield investment. If the decision making is correct and operating practices are proper, the positive effects of stock market income distribution functions will lead investors to obtain huge profits in the stock market. And such income is unmatched in other markets. At the same time, the stock market investment is one kind of high risk investment. Investors may suffer huge losses, and even lose everythingInvestors may suffer huge losses, and even lose everything.
2) Significant wealth effects
The so-called wealth effect indicates that the rise of financial asset prices leads the wealth of the asset holders to increase, thereby resulting in the increased consumption. The wealth effects of stock market not just make influences on the customers. The deeper meaning is: increased consumption will stimulate production enterprises to increase investments, thus contributing to economic growth. Therefore, the wealth effects of the stock market are much more prominent than other market.
3) Extremely attractive
The stock market has a very strong attraction to investors. The stock market investment is different from the investments in other market. The distinctive features of stock market such as simple investment means, fast results, the symmetry of risk and return make it be attractive to the majority of investors.
4) Spontaneously adjust the distribution of income
The primary distribution and redistribution of income in people economic activities are intervened by the state or collective. But the regulation of the stock market in income distribution is spontaneous, completely free from the intervention of state and collective. The reasons are: 1) Investors are not forced to enter into the stock market. Moreover, the marketing manager will remind investors that market investments have risks from time to time. Therefore we can say investors’ entering into the stock market is entirely voluntary. About trading in the stock market, there are no forcing factors constraining investment. What stocks the investors want to buy stocks or sell entirely at their own judgment. And investments make their own trading decisions. 3) In the treatment of gains and losses, investors will also completely free. When investors gain much in the market, they can select to buy something or they can also choose to continue into the stock market or other investments. When investors suffer great lost in the market, they can select to stay in the market waiting for an opportunity to make a comeback, and they also can to exit the stock market and turn to other investment areas. In short, the regulation of stock market on the income distribution completely acts under the operation of the market mechanism. The income distribution level of investors in the market, as well as the following consumption expanding or consumption reduction is all determined by the market.
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