摘要
本文通过梳理A股市场和新三板市场所面临的流动性缺失、机构投资者业绩不突出等问题,并对比分析美国股市发展,研究得出:为保障科创板平稳运行健康发展,监管机构必须关注科创板的流动性,但不可盲目效仿美国股市依赖机构投资者提高流动性,加强投资者风险教育,使投资者充分认识到投资高科技企业存在的风险,适时适度调整投资者适当性管理办法。
The supervisor of SSE STAR Market promotes strict proper investor management in order to protect the benefits of individual investor, it means that individual investor should have adequate financial assets and investment experiments, so that a lot of individual investors cannot invest the STAR Market stocks. The supervisor encourages people to invest fund focusing STAR Market. This approach is controversial to the spirits of registration system and the money lost by fund firm comes from individual investors. Ever A share market always fall in liquidity crisis, the high risky STAR Market’s liquidity cannot rely on institutional investors in the short term. The NEEQ Market ’s liquidity lessens should be attached enough importance, the strict approaches for proper investor management may challenge the adequacy of STAR Market’s liquidity.
出处
《价格理论与实践》
北大核心
2019年第5期17-21,25,共6页
Price:Theory & Practice
关键词
科创板
流动性
机构投资者
适当性管理
SSE STAR Market
Liquidity problem
Institutional investors
Pproper investor management
