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无论在西方成熟资本市场,还是我国这样的新兴市场,分析师都已成为了资本市场不可或缺的重要组成部分。近年来我国市场环境日趋完善,各种信息以爆炸之势迅速膨胀,分析师既是信息的使用者之一,又是关键的信息源,成为了资本市场信息链上的重要环节。信息流引导资金流,而分析师意见因其专业背景和相对独立性,受到了广大投资者的信赖和上市公司的重视,因此对分析师在资本市场信息链上如何定位意义重大。本文通过界定分析师的含义、解读分析师的作用、解释资本市场信息链、定位分析师信息等几方面来分析。
Analysts have become an integral part of the capital markets, both in mature Western capital markets and in emerging markets like ours. In recent years, the market environment in our country has been perfected day by day, and the variety of information has exploded rapidly. The analyst is not only one of the users of information but also the key source of information. It has become an important link in the capital market information chain. The flow of information guides the flow of funds, and analysts’ opinions are trusted by investors and listed companies because of their professional backgrounds and relative independence. Therefore, it is of great significance to locate analysts in the capital market information chain. This article analyzes the meaning of analysts, the role of analysts, the explanation of capital market information chain, and the positioning of analysts’ information.