摘要
本文通过利用境外实证研究结果和境外市场的数据进行实证这两种方式对国外证券市场中卖空交易机制的基本功能进行深入的研究。研究结果表明,证券市场中的卖空交易机制能发挥稳定市场、价格发现和提供流动性的功能,但卖空机制的宏观调控功能的实际效果并不理想。
This paper is an in-depth study of overseas short-selling system based on overseas empirical results and market data. It is revealed that short selling system has the function of stabilizing market, discovering prices and improving liquidity. However, the actual effect of macro-control of the short selling system is limited.
出处
《证券市场导报》
北大核心
2005年第3期72-77,共6页
Securities Market Herald
