Tiểu luận: Cấu trúc thị trường tài chính docx

Bài tiểu luận môn Lý thuyết tài chính tiền tệ
Đề tài:
CẤU TRÚC THỊ TRƯỜNG TÀI CHÍNH

Nhóm EURO –
K09402B

1
Mục lục
M c l cụ ụ 2
- Không có k h n và không hoàn v nỳ ạ ố 14
PHẦN MỞ ĐẦU
 !"#$%&"'()#*+,"
& ''-./01+23&#'4++
5&#'*+67&8961: ';3<=
>1?&2'63&#:'-&)@A@(,"B
'"C D@6E()#F-&6+G
&7>-7"'H;+'- 'A;*+C'4
I, 3&5J'"#&361()#'FK
%./ 0'+4+CB'H;+&F HK'
1. Lý do chọn đề tài.
(+#B"3"!:J=JA@+1
AJA@3LMH*+"<'4+&N
OI"J$5L5+#P @C$6;"J''
QH'-&14,+*+P./$+&R
R+BH;69 '%&"'"C&*+,"
>-70<H;+&''2"06531+A,+/$3
&#9$&*+C:'4+'
2. Mục tiêu của đề tài:
S >+%678*+;F'3&#:G'-*+G


S IL"&RT-3&#'<E'-:6'-/
5P
S >6+HL/5P3&#:6+'-,'6
<5P1"*+U&4+
S .1+56"G V:3&#'-


2
3. Phương pháp nghiên cứu
S+B<$ +K6+W<6+
SX/J6E3OI"
SYE65'67:6AD6&3C
4. Đối tượng, phạm vi nghiên cứu.
- ZGRH;+[>%+0:'-
SX3"H;+[IH;+@H/6+,-ZK
8*+&E1%+0"<7'-
Chương 1
Khái quát chung về thị trường tài chính
1.Cơ sở khách quan cho sự ra đời
 +<W3366R+$"#5H '+4+G
'"#5H 'PFG\,++]'5&4+&RP*+<*+3&#
:,'J^+*+"R$G'4
G_'61+7;+&#G"J 3/P
A'614G/'P*+,&G$+'4+6+W
@'-()# '"(+%6<E+&#G6+8+
:66+:-:S& '$ 3%6C
+ '6 3;6O'K&(+%+4+"+56+1R$6
:A`$+6+6 3;6Z+' '"(+%"# 3&1,
&G+4+G ''-
a&'- 'APb"%+:/A`6*+

A@&:'- 'A@P*+"]++]$+'4+G
<*+6<E'-&N5 '6 3;6 '"PA+
4+"+56+1R;6$6:16+
Chính sự phát triển của nền kinh tế hàng hóa và tiền tệ mà đỉnh cao của nó là kinh tế thị
trường làm nảy sinh một loại thị trường mới là thị trường tài chính
'-7''61L JA@61:
c@61:&) '"(+%$:14+W'
-'$PF+;+W'-_'
'61763&#6''"+56 36;6961
7'"#H2" '"+4++W'-N+d''
+B R/& 'thị trường tài chính
2. Khái niệm

3
Thị trường tài chính '/d63&#&8"+56*+AeE6
+W'-<*+$/;'<E'-%&
'- '8^6*++4+G
I"#6&/P'- '/d63&#"+566 3
%6/Nf:6+W+G*+&7'H6"+'656
6 38+6+7'H6 3G&4+5W"[ )A+%& )
A+% )A+%L3+3''3
3. Điều kiện cần thiết để hình thành
- I'618&J";&# 3"611"A6
&Rg
S>6<E:'-P&336/+1
*+AeE6+W'-g
S.7''61G6+'-
Sh,@'G6 +B'8;*+P i'J&16"A6A@
3&#:'-g
SXP3/A`B%U+B'G<EE3&#:

'-g
S>4&#96'6'*+P i"1+'-'P
&<&P6'&4+;6""31"J$:1(P
4. Các yếu tố cơ bản của thị trường tài chính
Z13 B"#"<A<&#'- 'A@R:++G
&j+G/5P[đối tượng :'-công cụ"H
'-'chủ thể"H'-
ZGR:'-
'- '"# 3&N5H&GR"+56H
'- '"# 3'&N5S& '*+AeEGL3N'3@
%:*+H'- '"+56*+AeE6
+W'-<*+7;"+565H' '6 3%6C+
';6

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 SI56*+AeE'- '$K'-&M"R
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Giá cả quyền sử dụng nguồn tài chính
k6P:*+AeE+W'-&R51+ 'AG R;"'"+*+Ae
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;"+56E16P:*+AeE+W'-1&R(6&J
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"'"+8+<+&R
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'- '6 3;6>;6 ';KJ3%N
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
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Thị trường tài chính
Người tiết kiệm/cho vay
Hộ gia đình
Doanh nghiệp
Chính phủ
Cá nhân/tổ chức nước ngoài

Tổ chức tài chính
trung gian
5. Phân loại thị trường tài chính
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5
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Thị trường nợ: '5+<56&86<ER&<ER '
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Thị trường vố cổ phần ( thị trường cổ phiếu ):X/6;&1+0G
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B&R56;6^<6'<+&R$"#<
+&RGQ;6:&R56 4&4+HHA/%
j>F;'-%6 i
j. Thị trường tài chính chính thức[ '5#B:'-"'3&"C
3&#+&#+;6+W'-&R@M$
+HL1'J*+&V'6F5P6 +B>6:1
"&R6 +BKB'5Pg
jThị trường tài chính không chính thức[ ''-"'`&"C3

&#+&#+;6+W'-'4+W'-
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N )$EF"'-<-
;
>F;'AeE+W'-+&#&R[
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6
Thị trường tiền tệ[r'"#'-Q6<EL3nq3
6JF"og
Thị trường vốn[r'd"+566<ER'38
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P%'6+
6. Chức năng và vai trò của thị trường tài chính
s>;F[
sDẫn nguồn tài chính từ những chủ thể có khả năng cung ứng nguồn tài chính đến
những chủ thể cần nguồn tài chính. Đây là chức năng quan trọng nhất của thị trường tài
chính, trong đó:
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+4+GJ]^PGK$J&
>66,8;>-:&R 'C't
+4+H+:C%/+BI$& '$
+4+H+ J/+BC&&1m")+4+G
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'-'6+'-7:$
A!<FH"6<*+'-7&
A+"#A!&RFH"7H" )I$&
&RAG4A!"`#&R3&#l '"+
:CF HIB'- '"+WG&K/<
/#&4+A R&J$/#&4+
• '-0&b- 9'B+G&1&6;+

4+(,@/A`B%'AP(+%I'J+4+(,
@6<70 R()#C5&(6l+
/+BK+B6@6&4+7'J %&,+&1@u
'-A!@6'<6>-:&1+&R
"# RK"+<6=,,&1'J-&1(,
@/A`34,&AG,
• '-0AeE/A`B%+*+P/<
Q&GJ&4+"'^&GJ&1&4+I
 )<*+ )A+%&GP-6AeEG
A+*+P%CKPPPG ] )
&WP3+B'- 9-5P,"7
• '-3&++B R@$-A6"`e
:P'-:<*+67;6'6+
J'5684+0G&4+J''6'AP(+%
J-&*+ivvvw8G'AP:G'--
EJ'`OI"&3jQ&WFjxAJ+GF"y
Z, '";F6%RAJ";&#F+:#&W6,

7
'3OI1PI,'/"3'J"x8AG'AP
:'5#G'--EJ'IBJ-A6"`e
:'-&)6&#'-6,'8;<
*+A@61:6,'J'8;-E,':
J'8;'-p*+G
• '-TAeE6;K6568+6
+&8
sChức năng cung cấp khả năng thanh khoản cho các chứng khoán;
sjChức năng thông tin kinh tế và đánh giá giá trị của các doanh nghiệp.
s O^:'-
sThị trường tài chính thu hút, huy động các nguồn tài chính trong và ngoài nước,

khuyến khích tiết kiệm và đầu tư;
sThị trường tài chính góp phần thúc đẩy, nâng cao hiệu quả sử dụng tài chính;
sj. Thị trường tài chính thực hiện chính sách tài chính, chính sách tiền tệ của nhà nước.
7. Hệ thống trung gian tài chính
z.G+'-
>6+'- '$8; '"4+G$$4G'$
+%GH+'-=+# 37'&$&+
+"#&N&1"3&# '6'6<E'-&1+0GA+& 3
&4+G'J7;6PN6;6$G
i6'6+'-P&4+:C '&4+6g^+
'-&4+AGG'P&4+& 3 '&4+@
z>6 37+'-:+
zCác tổ chức nhận tiền gửi
S>6,'/"3
S>6#"'
S>6,'"'6 H-E

zCác tổ chức không nhận tiền gửi
S{+U+-
S><&4+
zjO^:6+'-
S>+1&8&63$6<E'-g
SkP"1+:526&3&4+g
SkP"1+-R&W'-(e i<g

8
S>+%"#/6
Chương 2
Thị trường tiền tệ
1. Khái niệm:

 'GL3/d63&#:+'4+
GL3GL35W"P6+L373; '"+56
$"RL3:%-Pd:
+<*+3&#:G,'76,' ':1*+C
%+%'AeEGL3
OGL3:+ 'G'+4+6
2. Phân loại:

M6;8;[
Thị trường tiền tệ sơ cấp[ '/+H6'6 36+"J:,'
<'-53l' '/7"G:6'6+'+;
G:"+6+
Thị trường thứ cấp[ '/+H8;"+566 36+&)6'`
A/%"-+H676G

M6 3<E[
RL3$68;-EJA@&+':,'
+/
6+L3'6 3;K66[7+/
"3J'7+,'l
3. Chủ thể:

9
j>68;'-[
j Trung gian tài chính: '/0+1GK'&|
W"[
S>68;-E,'[,'/"36 H#"
'6*+U-E
S>68;"MR&W[<5P1",C<5P1":
'AP6*+U+-

S>68;+&4+[<'-*+Ut/*+U'-:

j Các tổ chức kinh doanh tiền tệ, tín dụng.

jI,'+/[@6"E-[
S{+P -'J
S@-A6*+G
S8;&%+4+'6'-+53

4. Công cụ:
>;Q`,'[ ';QBe733,'
e73<10MH+4+
-+53[ '<ERL3:-:53'J
,'+/6'>-P%'&<^&R '
/&/J"N-''&63L
j/+[ '6%RL36< J86'<
5P&P"7,'&1'R$+4+"NL3
>-H+,'[ ' K6' ,'P"#AG%
&'"#&1"'&/  '&R,'%B
67+&)&R5P&P"P'1H
;%Z< ,+}+[=&1Q6Pe52~ca`5%7J'K\D
>6P+B"+ 3'P+B56 3[ 'P+B56"# 3n"#
"o;6n ';6-:&#'o'&R"+ 3
A+"#3%&n-/+4oJ6/
5. Cơ cấu, chức năng

>/%+[
MD• '6 H,' '/d[
S\+563n3Go
S\+56#


10
MD#5W""+566%6L
3
>;F[
r'€H•&1,''J@-A6*+G
>+1G3"'t&/+G )A+%A l
6. Phương thức hoạt động:.
sO'$6,'/"3
sadH H,'
SO'@52
S>%+'4"G6%6"+566%6
SX/;&%+4+B+G R J
sj.3&#:6,'+/
SIEn6%+6%6o
SIE"`nA@""+S56%6:,'+
/Ho
sX/[&3‚(G&el

11
Chương 3
THỊ TRƯỜNG VỐN
1. Khái niệm :
G '2"+&#G'3"':+<*+;
2"P*++4+G&4+61:
2. Cơ sở khách quan ra đời của thị trường vốn:
|&4++4+G9",'+4+G:+ '
GL3MA@61+4+G'3&4+6
1''g>-7BG&)&&1&6;6+4+'Z1
+&#&RG'35H3&,'<*+7;'-6

>-:'^+&#G<*+7;6';
6_"#5#B6;66%&&R6'7(+%
+4+"+56;6g'&,- 'A@&:;6J
6 '"#5#B:G2"&6;+4+"+56'&8;
66 3
Z+4&17'G[
.3&#:G2"+&#$+WG()#B+'
$+WG'R'36'-:2""E&-61
AP(+%F`6@6&4+><E'-:G[
>6<E'-J&63 J/"#F" ''4:G
5W"%P636+8+6DEJ3"#F"
>%+0G[
G5W"j5<B[-E+''3
%+H'-';6&5#B

12
*+C%:'- '>_B++&#$P
G8 W'R6"E&-&4+()#:-:61AP(+%
36
SThị trường thế chấp[+%-E+''36&^m'
AP%3&#H' 'I.\'68;-EI.
SThị trường cho thuê tài chính[ ' 37'RG$++6
+4+&4+&8"J5<
SThị trường chứng khoán[;6 '6<E1*+A`$+<
nS8+o*+:R&GJ<
;6&+:&3&R*+" '/
d63&#"+56;6+''3O"+56'
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6''`$;%A@"+&56 36;6&)
&R6'`A/%

IB(T"N7;;6Q '/d63&#
&8"+56+1R6 3;6*+&&8:1L"$;
6
Chức năng cơ bản của thị trường chứng khoán
S.+&#G&4+
S>+%"<&4+<0
S3-P6;6
SZ663&#:
S3"<0>-:@6-A6D"<
3. Các chủ thể tham gia thị trường chứng khoán
>68;'6,";61&R'6"
A+['6''&4+'68; H*+&;6
jI'6'[
I'6' '68;@+&#G<*+;6
I'6' '+%6;6S'6:;6
S>-:'-*+&/ ''6'66+>-:'6
+&/
S>< ''6'68+'6+<
S>68;'- ''6'6<E'-66+;QE
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jI'&4+
I'&4+ '$@A@"+'56;6H;6
I'&4+1&R' 3['&4+6,''&4+8;
S>6'&4+6,
S>6'&4+8;
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13
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S><;6
S{+U&4+;6

S>6+'-
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S>/*+*+P iI'J
Sc`;6
S.#6';6
S8; +i'65=K;6
S><E"6-;6
S>68;'R;6
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S -:g
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Phân loại[
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+1R"'<4:E6 i
a@'*+ R"'8+& 3L"$1,5cổ phiếu phổ
thôngncổ phiếu thườngo'cổ phiếu ưu đãiSZ, '6, 385%_
&8+:"#<&cổ phiếu phổ thôngncổ phiếu

thườngo'cổ phiếu ưu đãi
. Đặc điểm :
- Không có kỳ hạn và không hoàn vốn
S>8;<8&'E+#'*+Pch_a:a
S_6AP8&< '+G=B6^ 3:'AP i
Sk68+5&#%"3

14
S-m
S>- +<
S-5PP-:
6+[ '"#;BDER:6'PPA`
$+6+&GJ"#PE1n"6:6+o"#(6
&'J"# R;*+&I6'1 'n6+
R'&RC '6+o"#8;-*+_53
'JnR'C '6+53o-*+nR'
C '<6N6+-:oI"+6+6:1 '6
,NN-:
 Phân loại :
SX, 3@M6'[6+>-:6+a6
+:,''68;'-
SX, 3 R;6+[6+ )A+%G&6+ )A+%5&8
6+ )A+%52<
SX, 3M";&#&P"5P6:6' : 6+5P&P", 6
+'AP4"G6+5P&P"52;6i*+U6+<
5P&P"
SX, 3@'7;6+[6+<6+
- X, 3@'-%6+ : 6+1+1&86+*+
"+8+6+1"+ 3
. Đặc điểm[

• >:16'trái phiếu<Q><"'^>-:+/
'>-:&/
• I"+trái phiếuQ ':16'' ':R::
16'trái phiếu_6J"+8+ '>:A`$+><
• +B:trái phiếu ' ) 'P+G&<E+#'*+P
AP(+%:<
• Trái phiếu ';6R7B><5P1N6AP7J
><PDE66>:6+JA+&"J
6>8&<

5. Các nguyên tắc hoạt động cơ bản của thị trường chứng khoán
I+HLH"&Fi
c'Q+1C>;:$<&3$H++b%
&[&P"5P3&# '"3 '/+%<&6
B
I+HL+
S |PG&*+ R:6&4+
S k0'-3&# '"38&

15
S 8;GA@;
jI+HL<
S >+%<"536'&4+
S 3A,/57&?6'&4+
S ZP"5P3&# '"3
I+HL&%+6
k6P;/5P7'*++p4+Z1(6&6P
:;64+,:[
S ƒ+H"+6
S ƒ+H566%

S ="#6+H&FiJ
6. Cấu trúc và phân loại cơ bản của thị trường chứng khoán
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SThị trường sơ cấp[ '"+566;6"J6'H
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;6"J6'
SThị trường thứ cấp[ '/6;6&)&R6'HA/
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s>F;'/;3&#:
;6&R,'B+nc';6o
'B+n„>o
sj>F;''6H
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6+6<E;66A
SThị trường cổ phiếu[ ''"+566 38+5W"8+
8++&)
SThị trường trái phiếu[ ''"+5666+&)&R6'
66+'5W"66+<6+&<'6+-:
S6<E;66A[ '6''"+&56 36
;K'-6[*+"+8+;*+R&W*+C

16
MỤC LỤC


PHẦN MỞ ĐẦU………………………………… ……… … 2

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SZGRH;+[
PHẦN NỘI DUNG…………………………………… … … 3
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j>:1:llllllllllllllllly
><E:lllllllll
>/%+;F:lllllll
sX/;3&#:lllll
>/j[Thị trường vốn……………………………… ……11
_6"Glllllllllllll
>/A`6*+&:Glllll
j>6:1";6llll
><E:Gllllllllllll
>6+HL3&#/5P:;6l
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17
s>%+0', 3/5P:;6lls
Nguồn tài liệu tham khảo:

Các nguyên lý tiền tệ ngân hàng và thị trường tài chínhI+dOFr+,4O
.'>+4OIh|Z.{kX.>\z
Giáo trình Thị trường chứng khoáncI+dOFI<cI+d.WrH
Ih|r&#S()#z
Lý thuyết tài chính tiền tệ, kca/|7\cceZ7'Ih|GH

/> /> />Nhóm thực hiện
c \ccO .CH X4@
 _ys 4IC{+q… >/j†+7
 _yy |=_+ >/
j _yj O9IC.'r |HA3†X‡M
 _yj I+dXr >/
 _yjy 4\Ur X4"`&4+†/j†+7
s _yjj 4I\ >/

18
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19