Capital market game theory

Author: Ma Guangqi
Publisher:
Publish Date: 2006-01-01
Features: The capital market is the core of the modern market economy. Looking at the development trends of the world economy and modern finance, direct financing represented by the capital market is gradually replacing indirect financing mediated by commercial banks as the main channel for national financial capital. The capital market connects the financing channels between investors and savers, significantly reducing transaction costs, improving the efficiency of capital allocation, and promoting the development of the market economy. In today's era of economic globalization and internationalization of capital markets, the core status and interrelated effects of capital markets have become even more prominent. This book focuses on the latest theoretical dynamics in the international economics community. Building on a thematic description of previous capital market theories, it attempts to conduct exploratory analysis and research on the capital market from a completely new perspective using the basic principles and analytical tools of game theory and information economics. It reveals the game characteristics of modern capital markets, analyzes the information mechanisms of the capital market, contributes to theoretical innovation and institutional development in capital markets, and further analyzes the reality of China's capital market from a game theory perspective. Based on this, it proposes future reform directions and institutional measures. This book adopts principles and research methods that combine theoretical elaboration with tool application, macro analysis with micro analysis, normative research with empirical research, and Western mainstream theories with Chinese practice. It conducts multi-angle, comprehensive analysis of the capital market, leading to a series of new insights.