我国中小股东投资困境及对策研究——以东方财富公司为例

我国中小股东投资困境及对策研究摘要党的十九届五中全会与十三届全国人大四次会议表决通过的“十四五”规划和2035年远景目标纲要的决议均指出，要大力发展市场经济，激活市场主体活力。对于任何一家企业而言，投资战略无疑属于其战略构成的核心内容，它不仅会深刻影响企业的经济效益，而且对企业未来的发展方向具有重要的意义。然而现实中不少企业普遍存在投资方面的问题。在我国经济占比日益增高、经济发展即将进入平稳期、新冠疫情发生的综合背景下，如何妥善处理中小股东投资所面临的系列问题，这将直接影响其在提供大批就业岗位和提拉地方经济效益方面的双重作用的发挥。中小股东投资者本身也要提升自己的知识储备，要学会理性分析投资问题，不要盲目跟风，更应该学习通过专业的中介机构提升自身的投资者教育理念，提升实战技术技巧，成为一名理性的投资人。然由于市场信息的不对称，造成中小投资者不能及时得到一手资料，在当前的弱势市场中，不能靠市场信息获得超额利润，但机构投资者有能力获得一手资料来获取超额利润，这就造成了鲜明的对比，所以需要尽可能地将市场做到信息透明化，加强上市公司信息披露监管体制。关键词：中小股东：投资困境：对策I-Research on the Investment Dilemma and Countermeasures ofMinority Shareholders in ChinaAbstractThe resolutions of the Fifth Plenary Session of the 19th CPC Central Committee andthe fourth session of the 13th National People's Congress on the 14th five year plan and theoutline of long-term goals for 2035 pointed out that we should vigorously develop themarket economy and activate the vitality of market subjects.For any enterprise,investmentstrategy undoubtedly belongs to the core content of its strategy composition.It will notonly deeply affect the economic benefits of the enterprise,but also be of great significanceto the future development direction of the enterprise.However,in reality,many enterprisesgenerally have investment problems.Under the comprehensive background of theincreasing proportion of China's economy,the coming stable period of economicdevelopment and the abuse of the COVID-19,how to properly deal with a series ofproblems faced by minority shareholders'investment will directly affect their dual role inproviding a large number of jobs and promoting local economic benefits.We small andmedium-sized shareholder investors themselves should also improve their own knowledgereserves,learn to rationally analyze investment problems,do not blindly follow the trend,we should learn to enhance our own investor education concept through professionalintermediaries,improve practical technical skills,and become a rational investor.However,due to the asymmetry of market information,small and medium-sized investors can not getfirst-hand information in time,in the current weak market,can not rely on marketinformation to obtain excess profits,but institutional investors have the ability to obtainfirst-hand information to obtain excess profits,which has caused us a sharp contrast,so wetry our best to make the market information transparent,strengthen the listed companyinformation disclosure regulatory system.Key Words:Minority shareholders;Investment dilemma;CountermeasureII-目录摘要---....IAbstract一、绪论(一)研究背景(二)研究意义…(三)研究思路与研究内容(四)研究方法与拟创新点.2二、理论基础与文献综述.3(一)基本概念.3（二)理论基础….3(三)文献综述5三、我国中小股东面临的投资困境.6(一)中小股东的声誉困境，6(二)中小股东的投资资金困境.7四、造成中小股东投资困境的原因分析…8(一)政府因素….8(二)上市公司因素……8(三)中小股东自身因素.9(四)中介机构因素.….9五、解决我国中小投资困境的对策研究…10(一)加强证券市场的政府监管机制…10(二)加强上市公司的会计信息披露10(三)加强宣传和对中小股东的教育..12(四)加强对中介机构的监督.13结论.14参考文献.….15III一、绪论(一)研究背景目前，金融市场的投资者主要分为中央银行、政府、金融机构和中小投资者等。在整个金融市场中，中小投资者是金融市场获取资金的主要来源，资金基数大，但是很多是个人投资者，从我国证券登记阶段的相关部门公布的数据来看，到2020年年底，境内的股票投资已经达到了1.777亿，在2020年新增的投资者已经达到了1800万，相比2019