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杠杆交易应该有,但是必须处于政府的有效监控之下。中国在杠杆化交易方面刚刚起步,监管和危机管理还很不成熟,这次股市的波动无疑对我们是一次有益的警示。前不久,国内股票市场的大幅度调整成了资本市场上的热点话题,而杠杆交易在其中的作用又成了热点中的一个热点。从理论与历史的视角,对杠杆交易这样一个在不少国家资本市场存在已久的现象进行研究并总结经验和教训,有利于促进中国资本市场的健康发展。
Leveraged deals should have, but must be under the effective supervision of the government. China has just started its levered transaction and regulatory and crisis management are still immature. The volatility of the stock market undoubtedly gave us a useful warning. Not long ago, the drastic adjustment of the domestic stock market has become a hot topic in the capital market, and the role of leveraged transactions has become a hot spot in the hot spot. From the perspective of theory and history, it is of great significance to study the long-standing phenomenon of leveraged trading in capital markets in many countries and to sum up experiences and lessons learned, which is conducive to the healthy development of China’s capital market.