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特许金融分析师协会:2020年新型冠状病毒对资本市场的影响报告(英文版)(64页).pdf

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1、IS THE CORONAVIRUS ROCKING THE FOUNDATIONS OF CAPITAL MARKETS? How the economic crisis induced by the coronavirus is impacting capital markets, investment management and the authorities response June 2020 IS THE CORONAVIRUS ROCKING THE FOUNDATIONS OF CAPITAL MARKETS? How the economic crisis induced

2、by the coronavirus is impacting capital markets, investment management and the authorities response Results of a membership survey conducted by CFA Institute June 2020 The mission of CFA Institute is to lead the investment profession globally by promoting the highest standards of ethics, education,

3、and professional excellence for the ultimate benefit of society. CFA Institute, with more than 170,000 members worldwide, is the not-for-profit organization that awards the Chartered Financial Analyst (CFA) and Certifi- cate in Investment Performance Measurement (CIPM) designations. CFA, Chartered F

4、inancial Analyst, AIMR-PPS, and GIPS are just a few of the trademarks owned by CFA Institute. To view a list of CFA Institute trademarks and the Guide for the Use of CFA Institute Marks, please visit our website at www.cfainstitute.org. 2020 CFA Institute. All rights reserved. No part of this public

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本文是CFA协会对全球会员进行的调查报告,主要分析了由冠状病毒引起的经济危机对资本市场和投资管理行业的影响。报告的主要内容包括: 1. 经济复苏的形状:大多数受访者(79%)认为经济复苏将缓慢或停滞,然后在中期逐渐回升。只有10%的受访者预计会出现快速强劲的“V”型复苏。 2. 市场波动性和流动性:大约四分之三的受访者表示,他们正在分析市场波动性对战略资产配置的影响,或者从战略角度来看没有显著影响。在拉丁美洲和南亚,由于市场波动性,44%和38%的受访者表示他们的公司不得不改变资产配置。 3. 政府和中央银行的干预:大多数受访者(50%)认为,政府和中央银行的干预是必要的,但不足以支持经济,需要继续干预。另一方面,49%的受访者认为,尽管干预是稳定市场的短期缓解措施,但应尽快停止,以便回归财政严谨和允许中央银行开始去杠杆化。 4. 监管反应:大多数受访者(50%)不同意在危机期间放宽行为规则以鼓励交易和流动性。69%的受访者认为,监管机构应积极寻求适当的应对措施,与行业协商。 5. 危机期间的职业道德:45%的受访者认为,危机可能导致投资管理行业的不道德行为,而30%的受访者持中立态度。 6. 金融业和其商业模式的作用:受访者普遍认为,市场是经济运作的重要组成部分,公众应该知道在如此前所未有的条件下市场仍在正常运作。 7. 主动投资与被动投资的辩论:42%的受访者认为,这场危机不太可能逆转从主动投资向被动投资的稳步转变。 8. 金融领域的就业情况:大多数受访者(54%)表示,他们公司的招聘计划没有变化,36%的受访者报告称他们的公司实施了招聘冻结。
冠状病毒如何影响资本市场? 金融专业人士如何应对市场波动? 政府应如何应对经济危机?
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