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证券市场创新的影响因素影响证券市场创新的因素可分为三类:市场参与者的需求、金融机构的供给、政府与监管当局的影响。1.市场参与者对金融创新的需求(1)风险规避对创新的需求。随着证券市场波动性的加剧,市场参与者需要规避风险的金融工具与金融策略。首先,随着我国价格体系从固定变为浮动,会融风险不断加大。如汇率从固定变为
Influencing Factors of Securities Market Innovation Factors affecting the innovation of securities market can be divided into three categories: the demand of market participants, the supply of financial institutions, the influence of government and regulatory authorities. 1. Market participants' demand for financial innovation (1) Risk aversion The demand for innovation. As the volatility of the securities market intensifies, market participants need to hedge their financial instruments and financial strategies. First of all, as China's price system changes from a fixed one to a floating one, risks of integration will continue to increase. If the exchange rate from fixed to