What is financial market science?

Financialmarket (Financialmarket) Overview of financial market science Financial market science is the science of finance to study the operating mechanism of each financial submarket under the conditions of the market economy and the behavior of its various subjects. The financial market is both a tangible market and an intangible market; at the same time, it is a market system. The financial market is at the core of the modern market economic system. Definition of the financial market Financial market is to handle a variety of bills, securities, foreign exchange and financial derivatives trading, as well as interbank monetary borrowing and lending place. The elements of the financial market composition 1, the main body of the financial market: that is, the financial market traders. 2, the financial market object: refers to the financial market trading object and the subject matter of the transaction, which is usually referred to as financial instruments. Substance is money, only some to be completed with the help of some written carrier. Such as: notes, bonds and stocks. 3, the financial market media: refers to those in the financial market as a medium of exchange, to promote the completion of the transaction and collect a certain commission for the purpose of institutions and individuals. Media can be divided into two categories: one is the financial market traders. The other category is institutional media. Financial graduate students who are involved in financial activities mainly to earn commissions. 4, financial market prices: different financial instruments have different prices, with the actual return on financial instruments is closely related. There are more influencing factors and it is more complicated. The function of financial market 1, the function of transforming savings into investment; 2, the function of improving social and economic welfare; 3, provide a variety of financial instruments and accelerate the flow of short-term funds condensed into long-term funds; 4, improve the competitiveness of the economic and financial system and the efficiency of the function; 5, the function of guiding the flow of funds. The structure of financial market 1, according to the term divided into money market and capital market; 2, according to the delivery method is divided into spot market, futures market and options market; 3, according to the way and number of securities trading can be divided into primary market and secondary market; 4, according to the transaction and pricing can be divided into the open market, bargaining market, store market and the fourth market; 5, according to the attributes of the financial instruments can be divided into the basic type financial market and the Financial derivatives market; 6, according to the geographical distance between the two sides of the transaction is divided into local, national, regional financial markets and international financial markets. Supervision and management of financial markets 1, the necessity of supervision and management of financial markets 1), the participants in the financial market has a complex composition, in order to maintain a fair, just, open and healthy market order, so that the financial market operates on a standardized track, not only to prevent possible fraud, monopoly and unprocedural insider trading, to protect the legitimate rights and interests of investors and fair competition, and to exclude and resist the risk of market fluctuations. (2), the financial market as a market mechanism, with a certain degree of spontaneity and blindness. Whether it can have high efficiency, need to supervise and manage, need to carry out the necessary guidance, intervention and regulation. (3), the supervision and management of the financial market is also an important part of the government regulation and management of the national economy. 2, the financial market supervision and management objectives From the perspective of macroeconomics, is to ensure that the financial market mechanism, and thus ensure the normal operation of the entire national economic order, with efficient and developed financial system to promote the stable development of the economy. From the viewpoint of the financial market itself, it is to limit and eliminate all factors unfavorable to the operation of the market, such as the existence and development of various illegal transactions, speculative activities, fraudulent means of the party, to protect the legitimate rights and interests of market participants, to ensure that the market has sufficient depth, breadth, flexibility, and the basis of the steady operation of the market. Principles of Financial Market Supervision and Administration Principles of legality, fairness, openness, and voluntariness 4. Main Contents of Financial Market Supervision and Administration Financial market supervision and administration includes two meanings: financial market supervision and financial market management. Financial market management generally refers to the state in accordance with the relevant financial market laws, such as bill law, securities law, banking law, regulate the financial market transactions, in order to achieve the purpose of guiding the healthy and orderly operation and stable development of the financial market. Financial market supervision refers to in order to achieve this purpose, and the financial market to carry out comprehensive monitoring, analysis, find problems and timely school address, is the market operation abide by state laws and regulations, financial graduate students strictly follow the process of market management. The specific content of the financial market supervision, depending on the national economic and financial systems vary, but in general, the main financial market elements constitute the supervision. 1), the regulation of the main body of the financial market, i.e., traders 2), the regulation of the object of the financial market, i.e., trading instruments 3), the supervision and management of the financial market media 4), the regulation of the financial market prices Institutions for the supervision and management of the financial market The government implements the supervision and management of the financial market through certain specialized institutions, which are generally divided into three categories, i.e., the main supervisory institution, the auxiliary supervisory institution, and the self-regulatory supervisory institution. The primary regulator is the organization that has the main responsibility for the supervision and management of the financial market and carries out comprehensive supervision, which is generally filled by the central bank. Subsidiary regulators are institutions and departments that have partial responsibility for the regulation of financial markets and mainly regulate one or several sub-markets in financial markets. For example, the Securities and Futures Commission Self-regulatory regulatory bodies are self-regulatory bodies, which are formed through voluntary combination in the form of guilds and associations to regulate the market behavior of their members by formulating a code of conduct and self-regulatory regulations to be observed by the same ****. Such as securities industry associations, stock exchanges. China's financial market regulators 1), the main regulator is the People's Bank of China; 2), auxiliary regulators are: China Securities Regulatory Commission, China Insurance Regulatory Commission; 3), self-regulatory regulators are: China Securities Association, Shanghai, Shenzhen, the two Stock Exchange. Means of supervision and management of financial markets Financial market supervision and management organizations usually use two types of means to implement supervision, that is, legal means and economic means. Our country in the past, mainly using administrative means; with the market economy, financial market development, deepening, regulation from direct to indirect changes in the means of regulation and administrative means to the legal means and economic means of transition. The main body of the financial market ---- traders I. The important position of enterprises in the financial market Enterprises are the main body of the financial market, enterprises are the center of economic activities of a country, and thus also determines the enterprise is the basis of the operation of the financial market. From the legal form, there are three main forms of organization: sole proprietorships, partnerships, companies (limited liability company shares, limited liability company). Sole proprietorship and partnership is the traditional form of enterprise, the company is a modern form of enterprise. Regardless of the type of enterprise, its production and operation process will occur in the situation of capital surplus or deficit, the financial market has therefore become to meet the needs of all types of enterprises and investment place. In addition, as a modern form of enterprise, the company should also have a natural close relationship with the financial market due to the characteristics of its composition. An important feature of the company is the diversification of its investment bodies, which is ultimately a form of "capital association". This "capital union" process, must be realized through the financial market, such as the joint-stock company to issue shares, limited liability companies to issue bonds and so on. Financial postgraduate students can see that the diversity of the source of capital and the diversification of the main body of investment, so that enterprises become the main body of the financial market securities issuance, become the main factor in determining the size of the primary market. Second, the government's dual identity in the financial market The government, in addition to being the largest demand for funds in the financial market and the main body of the transaction, is also an important regulator and coordinator, and thus has a dual identity in the financial market. Although government regulation of financial markets is mainly delegated to regulatory agencies, such as the central bank and the finance ministry, the government often exerts pressure on financial markets on its own. On the other hand, it also exerts influence through fiscal policy, especially the management of treasury bonds and treasury bond trading, which is the role of coordination and cooperation with the central bank's monetary policy in the financial market. Third, the special position of financial institutions in the financial market In general, all organizations specializing in various financial activities, are called financial institutions. Financial graduate students in this chapter refers to the financial institutions is the money surplus and shortage of both sides of the financial transaction intermediaries, but also the supply and demand for funds, such financial institutions, including the creation of deposits of money, commercial banks, the creation of money ability to create low or no ability to create money in the bank and other non-bank intermediary institutions. In the financial market, the role of financial institutions is extremely special. First of all, it is the most important intermediary in the financial market, and is the transmitter and guide of the conversion of savings into investment. Secondly, financial institutions are also the suppliers and demanders of funds in the financial market. In short, financial institutions play a key role in the financial system due to their special position in the financial market. It is both the issuance and creation of financial instruments, but also in the market to buy all kinds of financial instruments, both the intermediary of the financial market, but also the investors in the financial market, the monetary policy of the transmitter and bearer, which is any other sector can not be replaced. Fourth, the role of institutional investors in the financial market and the way institutional investors are engaged in transactions in the financial market are some large institutions, such as insurance companies, investment trust companies and pension funds. These institutions are important investors in the financial market, not only in a special capacity, but also play a huge role. Institutional investors are mainly active in the capital markets and usually trade mainly in corporate securities, such as stocks and corporate bonds. Sometimes they also buy certain amount of gilts. Institutional investors have a greater influence on market prices because of the large amounts they trade. Institutional investors, like the household sector, are the main suppliers of capital in the financial markets. In a certain period of time, the position of the two sectors in the capital market is mutually exclusive. V. The status and role of the family in the financial market The family sector, also known as the personal sector, in any country and region, the family sector is the most important supplier of funds in the financial market, is the main subscriber and investor of financial instruments. In general, the household sector's income is always greater than its expenditure, for reasons of thrift and precaution. The household sector is a consistent investor and supplier of funds on the financial market due to the diversified and decentralized nature of its income. It is the decentralized and diversified nature of the household sector's investments that gives the financial markets their broad participation and their ability to accumulate long-term funds. It can be said that without the household sector as the main body, the financial market lacks fascination and its importance in the national economy has to be greatly reduced. Grid research counseling to provide financial postgraduate admissions examination registration guidance, each college and university financial professional in-service postgraduate admissions brief, online registration, online Q&A, faculty, curriculum, fees, each professional directory query. Financial postgraduate conditions, the latest financial postgraduate policies and regulations of colleges and universities, to help students correctly apply for the ideal college in graduate school majors. Renmin University of China, University of International Business and Economics, Chinese Academy of Sciences Graduate School, Shanghai University of Finance and Economics, East China University of Science and Technology, Beijing Institute of Technology and other in-service postgraduate enrollment popular colleges and universities.

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