摘 要
市场发展到一定时期就产生了证券市场，证券市场的产生是为了解决,资本流动性和供求问题。在当,今的发达,市场经济,中，证,券市场是完整,的市场体系的重要组,成部,分，它不,仅反,映和,调,节货,币资,金的运动，而,且对整,个经济的运,行具有重,要影,响。证券市场有一定的流动性，随着当代证券市场的不断发展与更新，其流动性风险成为全民关注的问题。证券市,场中的流,动性风,险是指,当证券市,场缺乏流,动性或者市场本身流,动性,不足，给参与市场的人带来的额外交易成本或以后可能发生的损失，是证券市场投资者面临的最主要的风险之一。流,动性风,险已经成,为国,内证,券公,司无法忽视的风险因素，而证券行业对流动性风险的管理研究也亟待提升。证券市,场流,动性的好,坏与,否，直,接关,系到证,券市,场的稳定，对增,强投,资者的信心,起着至关重,要的作,用。所以对证券市场中的流动性风险与管理相关课题的研究已经到了刻不容缓的地步，在理论上深入对流动性风险管理的基础研究，探讨针对性对策，找到可行有效的方法降低其流动性风险，实现我国证券市场经济的稳定可持续发展。
关键词 证券市场 风险 风险管理 VaR方法
LIQUIDUTY RISK AND MANAGEMENT IN SECURITY MARKET
ABSTRACT
The stock market is a product of the development of the market economy to a certain stage.Is to solve the contradiction between supply and demand of capital and the flow of the market. In the developed market economy, the stock market is an important part of the whole market system. It not only reflects and regulates the movement of monetary fund, but on the whole economic operation has important influence. The stock market has certain liquidity, however, with the continuous development of modern securities markets, the liquidity risk has become a universal concerned problem.The market liquidity risk in the market is lack of liquidity, market participants to bring additional transaction costs or potential losses, is one of the main risks facing investors in securities market.The liquidity risk has become a risk factor of domestic securities companies must pay attention to the securities industry, and liquidity risk management also needs to be improved. The liquidity of stock market is good or bad, is directly related to the stability of the stock market, plays an important role to enhance the confidence of investors.So research on the securities market in the flow of risk and risk management related topics has come to the urgent situation, in theory enhancing convection dynamic risk management on the basis of the study, study countermeasures, find a feasible and effective method to reduce the flow of risk, to achieve the sustainable and stable development of the securities market of our country.
KEY WORDS Stock market Risk Risk management VaR method
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