10384 X0015101 UDC The Preliminary Survey of the Development Patterns of Security Analysts in China (MBA) 2004 2 2004 3 2004 3 2 0 0 4 2

14

Abstract Abstract The security analysts are respectable oversea, the reason is that there is a perfect qualification systems in the circle of this profession and there are many aspects worthwhile to be praised in their ethics. Comparing with the 100-year development history of the stock market, it is obvious that it is extensive in the development of Chinese security analysts. The amateur analysts of China have become professional ones in last fourteen years, but they have both advantages and disadvantages. In the present context, the security analysts in China should improve their professional level in order to follow international practice. This paper introduces the profession of security analysts, describes their features and then discusses their functions in the capital market. By reviewing the history and the current situation of the security analysts in the U.S., the author analyzes and compares the present and the problems of the counterparts in China and concludes that it is necessary and feasible to develop the profession of security analysts in China. Finally, the author put forward the proposals and suggestions in the development patterns of security analysts in China. Key Words: Security Analysts; Security Market; The Development Patterns.

...1...2...2...2...3...4...7...7...9...10...10...11...11...11...13...13...15...15...16...19...25

...25...27...27...28...30...31...31...33...34...36...37...38...39...44...47

Table of Contents Table of Contents Preface... 1 Chapter One The brief introduction of the profession of security analysts... 2 1.1 The definition and professional features of security analysts...2 1.1.1 The emergence of security analysts...2 1.1.2 The definition of security analysts...3 1.1.3 The professional features of security analysts...4 1.2 The main functions and the responsibilities of security analysts...7 1.2.1 The main functions...7 1.2.2 The responsibilities...9 1.3 The uses of security analysts in the capital market...10 1.3.1 To promote the stability of the capital market...10 1.3.2 To promote the effective distribution...11 1.4 The self-discipline organization and its function concerning security analysts...11 1.4.1 The self-discipline organization...11 1.4.2 The function of the self-discipline organization...13 1.5 The prospects of the profession of security analysts...13 Chapter Two The past and the present of security analysts in the U.S... 15 2.1 The emergence and development of the profession of security analysts in the U.S....15 2.2 The transformation of the roles of security analysts in

Table of Contents the U.S....16 2.3 The present of security analysts in the U.S...19 Chapter Three The past and the present of the profession of security analysts in China... 25 3.1 The development history of Chinese security analysts...25 3.2 The necessity and feasibility of the promotion of the system of security analysis in China...27 3.2.1 The current situation of individual investors of the promotion of the system of security analysis in China...27 3.2.2 The necessity of the promotion of the system of security analysis in China...28 3.2.3 The feasibility of the promotion of the system of security analysis in China...30 3.3 The current problems in the profession of security analysts in China...31 3.3.1 The professional puzzlement of security analysts...31 3.3.2 The performance and current problems of security analysts in China...33 3.3.3 The current problems of stock investing consulting institutions Chapter Four in China...34 The development proposals of the profession of security analysts in China... 36 4.1 The development proposals of the profession of security analysts...37 4.2 The development proposals of Chinese security analysts...38 4.3 My suggestions...39 Bibliography... 44 Afterward... 47

- 1 -

- 2 -

20 60,, ; -, Benjamin Graham,,, (AIMR),, (1987),, ( research analyst),, ( ) Security, - 3 -

Analyst, Financial Analyst Investment Analyst Investment Professional Security Analyst 1 60%, - 4 -

( ) 2-5 -

200 CFA Chartered Financial Analyst 10% ICIA 1998 3 2000 2003518-6 -

Degree papers are in the Xiamen University Electronic Theses and Dissertations Database. Full texts are available in the following ways: 1. If your library is a CALIS member libraries, please log on http://etd.calis.edu.cn/ and submit requests online, or consult the interlibrary loan department in your library. 2. For users of non-calis member libraries, please mail to etd@xmu.edu.cn for delivery details.