中国证券投资基金对股市影响研究

 以1998年3月底金泰、开元两只具有真正意义上的证券投资基金的设立为标志，我国基金业进入了规范发展时期，政府在给予其积极政策扶持的同时，也对其稳定股市的功能寄予了厚望。但在实践中，证券投资基金对股市的影响却引来了不同的争议。本文试从基金所持货币资产比例、基金股票持有期限及基金股票差价收益与股息收益的比例三个方面来分析证券投资基金对股市的实际影响，并在挖掘造成这种结果的深层次内部和外部原因基础上提出对策建议。

The Study on the Impact of Security Investment Funds on the Stock Market of China

People argue if security investment fund is the regulator of the stock market, the paper researches the question from proportion of money capital of fund, term of stocks held by fund and proportion of price difference return and the divided return of stocks , and combing the above and the essence of security investment fund the paper concludes that security investment fund can’t stabilize stock market.