{"id":1783,"date":"2014-04-30T22:49:53","date_gmt":"2014-04-30T14:49:53","guid":{"rendered":"https:\/\/yanntardis.com\/?p=1783"},"modified":"2014-05-10T18:52:44","modified_gmt":"2014-05-10T10:52:44","slug":"finance-and-the-good-society-roles-and-responsibilities","status":"publish","type":"post","link":"https:\/\/yanntardis.com\/?p=1783","title":{"rendered":"Finance and the Good Society &#8211; Roles and Responsibilities"},"content":{"rendered":"<table style=\"color: #000000;\">\n<tbody>\n<tr>\n<td><a href=\"https:\/\/yanntardis.com\/wp-content\/uploads\/2014\/04\/finance-and-good-society.png\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1784\" src=\"https:\/\/yanntardis.com\/wp-content\/uploads\/2014\/04\/finance-and-good-society.png\" alt=\"finance and good society\" width=\"300\" height=\"453\" srcset=\"https:\/\/yanntardis.com\/wp-content\/uploads\/2014\/04\/finance-and-good-society.png 300w, https:\/\/yanntardis.com\/wp-content\/uploads\/2014\/04\/finance-and-good-society-198x300.png 198w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/td>\n<td><em>Finance and the Good Society<\/em><\/p>\n<p><em>Robert J. Shiller<\/em><\/p>\n<p><em>B00C791JJI<\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"color: #000000;\">\u524d\u4e0d\u4e45\u6211\u7b2c\u4e00\u6b21\u5b8c\u6574\u5730\u8ddf\u770b\u5b8ccoursera\u7684\u4e00\u4e2a\u8bfe\u7a0b\uff0c\u5c31\u662f\u8036\u9c81\u5927\u5b66\u5f00\u8bbe\u7684\u300aFinancial Markets\u300b\u3002\u603b\u7684\u6765\u8bf4\uff0c\u8fd9\u95e8\u8bfe\u7a0b\u662f\u76f8\u5f53\u7d27\u7f29\u548c\u9ad8\u5ea6\u6d53\u7f29\u7684\uff0c\u5b83\u770b\u95ee\u9898\u7684\u89d2\u5ea6\u76f8\u5bf9\u6bd4\u8f83\u5b8f\u89c2\u3002\u5176\u4e2d\u6bd4\u8f83\u8ba9\u6211\u611f\u5174\u8da3\u7684\u5730\u65b9\u662f\u8bb2\u5230behavioral finance\uff0c\u6240\u8c13\u7684\u7ecf\u6d4e\u793e\u4f1a\u6211\u4eec\u7ecf\u5e38\u7528\u5404\u79cd\u6570\u5b66\u6a21\u578b\u6765\u9610\u8ff0\uff0c\u4f46\u662f\u5728\u5b9e\u9645\u751f\u6d3b\u4e2d\u5f80\u5f80\u5f88\u4e0d\u4e00\u6837\u3002\u53ef\u60dc\u5728\u8fd9\u95e8\u8bfe\u7a0b\u91cc\u771f\u6b63\u8bb2\u5230behavioral finance\u7684\u5730\u65b9\u4e0d\u591a\u3002\u7136\u540e\u6211\u53d1\u89c9\u539f\u6765\u8fd9\u95e8\u8bfe\u7684\u4e3b\u8bb2\u8001\u5e08<strong>Robert J. Shiller<\/strong>\u662f\u53bb\u5e74\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5956\u7684\u5f97\u4e3b\uff0c\u53bb\u5e74\u7684\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5956\u7531\u8fd9\u4f4dRobert J. Shiller\u548c\u53e6\u5916\u4e24\u4f4dEugene Fama\u3001Lars Peter Hansen\u5206\u4eab\u7684\uff0c\u8bc4\u8bed\u662f\u201cfor their empirical analysis of asset prices\u201d\u3002\u6709\u610f\u601d\u7684\u662f\u53e6\u4e24\u4f4d\u662f\u5f88\u660e\u663e\u57fa\u4e8e\u6570\u5b66\u6a21\u578b\u7684\uff08\u6570\u5b66\u6a21\u578b\u7684\u4e00\u5927\u5047\u8bbe\u662f\u6709\u6548\u5e02\u573a\uff09\uff0c\u800c\u8fd9\u4f4dRobert J. Shiller\u5219\u662f\u4ece\u5b8c\u5168\u4e0d\u540c\u7684\u89d2\u5ea6\u51fa\u53d1\u3002\u6240\u8c13\u7684\u884c\u4e3a\u7ecf\u6d4e\u5b66\uff0c\u51e0\u4e4e\u662f\u5fc3\u7406\u5b66\u3001\u793e\u4f1a\u5b66\u65b9\u9762\u7684\u51fa\u53d1\u70b9\u4e86\uff0c\u611f\u89c9\u4f3c\u4e4e\u662f\u6709\u6548\u5e02\u573a\u7684\u7eaf\u5bf9\u7acb\u9762\u7684\u4e86\u3002\u4e8e\u662f\u6211\u53bb\u8bfb\u4e86\u4f5c\u4e3a\u63a8\u8350\u6559\u6750\u4e4b\u4e00\u7684Robert J. Shiller\u7684\u4e00\u672c\u4e66\u300a<strong>Finance and the Good Society<\/strong>\u300b\uff0c\u6709\u4e2d\u6587\u7ffb\u8bd1\u7248\u672c\u53eb\u505a\u300a\u91d1\u878d\u4e0e\u597d\u7684\u793e\u4f1a\u300b\u3002<\/p>\n<p>\u8fd9\u662f\u7b2c\u4e00\u672c\u6211\u770b\u5e8f\u80fd\u770b\u5230\u5982\u6b64\u71c3\u7684\u4e00\u672c\u4e66\uff01\u201c\u597d\u793e\u4f1a\u201d\u611f\u89c9\u662f\u90a3\u4e48\u9065\u8fdc\u7684\u4e00\u4e2a\u8bcd\u6c47\uff0c\u597d\u50cf\u662f\u53e4\u5e0c\u814a\u54f2\u5b66\u5bb6\u4eec\u5728\u601d\u8003\u7684\u95ee\u9898\uff0c\u4f46\u662f\u5176\u5b9e\u5728\u6211\u4eec\u5f53\u4eca\u7684\u793e\u4f1a\uff0c\u8fd9\u4e00\u6982\u5ff5\u4f9d\u7136\u91cd\u8981\u3002\u90a3\u4e48\u91d1\u878d\u548c\u597d\u793e\u4f1a\u53c8\u80fd\u626f\u4e0a\u4ec0\u4e48\u5173\u7cfb\u5462\uff1f\u4ece\u9a6c\u514b\u601d\u5bf9\u8d44\u672c\u4e3b\u4e49\u7684\u6279\u8bc4\u8bf4\u8d77\uff0c\u9a6c\u514b\u601d\u8bf4\u8d44\u672c\u4e3b\u4e49\u793e\u4f1a\u7531\u8d44\u672c\u5bb6\u4eec\u63a7\u5236\u7740\uff0c\u7a77\u4eba\u6c38\u8fdc\u4e0d\u53ef\u80fd\u7ffb\u8eab\u3002\u4f46\u662f\u5982\u679c\u4ed4\u7ec6\u60f3\u4e00\u60f3\uff0c\u8fd9\u662f\u8d44\u672c\u4e3b\u4e49\u7684\u95ee\u9898\u5417\uff1f\u8fd9\u5176\u5b9e\u662f\u6c11\u4e3b\u5316\uff08democratising\uff09\u548c\u4eba\u6027\u5316\uff08humanising\uff09\u7684\u95ee\u9898\uff0c\u6240\u8c13\u7684democratisation of finance\u662f\u6307application of financial technology for everyone\uff1b\u6240\u8c13\u7684humanisation of finance\u662f\u6307taking account of human nature in financial plans and design of financial institutions\u3002\u518d\u56de\u5230\u8d44\u672c\u4e3b\u4e49\uff0f\u91d1\u878d\u7684\u672c\u8d28\uff0c\u5176\u5b9e\u662f\u901a\u8fc7\u8d44\u672c\u8fd0\u4f5c\u6765\u5206\u914d\u8d44\u4ea7\uff0c\u5b83\u672c\u8eab\u5e76\u4e0d\u662f\u4ec0\u4e48\u4e00\u90e8\u5206\u4eba\u7684\u5229\u76ca\u5de5\u5177\u3002\u90a3\u4e48\u9762\u5bf9\u9a6c\u514b\u601d\u63d0\u51fa\u7684\u95ee\u9898\u7684\u89e3\u7b54\uff0c\u5c31\u5e76\u4e0d\u662f\u8981\u53bb\u6467\u6bc1\u8d44\u672c\u4e3b\u4e49\uff0c\u800c\u662f\u8981\u6df1\u5316\u8d44\u672c\u4e3b\u4e49\u7684\u6c11\u4e3b\u5316\u3002\u518d\u56de\u60f3\u4e00\u4e0b\u5f53\u4ee3\u8d44\u672c\u4e3b\u4e49\u5e26\u6765\u7684\u4e1c\u897f\uff0c\u968f\u7740\u5168\u7403\u5316\u7684\u63a8\u8fdb\uff0c\u5176\u5b9e\u662f\u66f4\u591a\u7684\u516c\u53f8\u88ab\u66f4\u591a\u7684\u4eba\u6216\u673a\u6784\u4ee5\u80a1\u6743\u7684\u65b9\u5f0f\u62e5\u6709\uff0c\u8fd9\u4e0d\u5012\u6b63\u597d\u662f\u5171\u4ea7\u4e3b\u4e49\u7684\u4e00\u79cd\u5f62\u5f0f\u5417\uff1f<\/p>\n<p>\u5e8f\u4e4b\u540e\uff0c\u672c\u4e66\u5206\u4e24\u90e8\u5206\uff0c\u770b\u7b2c\u4e00\u90e8\u5206\u7684\u76ee\u5f55\u51e0\u4e4e\u5c31\u50cf\u662f\u5b66\u8d22\u52a1\u5b66\u91d1\u878d\u7684\u5de5\u4f5c\u6307\u5357\uff0c\u5b83\u5217\u4e3e\u4e86\u5404\u79cd\u804c\u4e1a\u5728\u91d1\u878d\u4e16\u754c\u7684\u6240\u4f5c\u6240\u4e3a\u548c\u9762\u4e34\u7684\u95ee\u9898\u3002\u6211\u5bf9\u4e8e\u8fd9\u4e2a\u8d22\u52a1\u4e16\u754c\u7684\u7406\u89e3\u662f\u542b\u6df7\u7684\u3002\u5c31\u597d\u50cf\u6709\u65f6\u4e70\u6765\u4e00\u4e2a\u65b0\u7684\u79d1\u6280\u4ea7\u54c1\uff0c\u5728\u4e0d\u770b\u8bf4\u660e\u4e66\u7684\u60c5\u51b5\u4e0b\uff0c\u5bf9\u8fd9\u4e2a\u4ea7\u54c1\u7684\u603b\u4f53\u7406\u89e3\u53ef\u80fd\u8db3\u4ee5\u652f\u6301\u4f7f\u7528\u8fd9\u4e2a\u4ea7\u54c1\u3002\u81f3\u4e8e\u5185\u90e8\u7684\u539f\u7406\u662f\u4ec0\u4e48\uff0c\u5404\u4e2a\u90e8\u4ef6\u7684\u4f5c\u7528\u548c\u76f8\u4e92\u4e4b\u95f4\u7684\u534f\u4f5c\u662f\u4ec0\u4e48\uff0c\u5e76\u4e0d100%\u6e05\u695a\uff0c\u4f46\u662f\u901a\u8fc7\u4e00\u4e9b\u6700\u76f4\u89c9\u7684\u63a8\u7406\uff0c\u4f3c\u4e4e\u53ef\u4ee5\u5927\u6982\u7406\u89e3\u4e00\u4e9b\u3002\u770b\u4e86\u4e66\u4ee5\u540e\uff0c\u6211\u4f3c\u4e4e\u91cc\u6e05\u695a\u4e86\u4e00\u4e9b\u601d\u8def\uff0c\u770b\u5230\u4e00\u4e9b\u53ef\u4ee5\u5370\u8bc1\u6211\u4ee5\u524d\u521d\u6b65\u60f3\u6cd5\u7684\u4e1c\u897f\uff0c\u4e5f\u6df1\u523b\u611f\u53d7\u5230\u8def\u9014\u4e4b\u9065\u8fdc\u3002\u6211\u73b0\u5728\u53ea\u770b\u5b8c\u7b2c\u4e00\u90e8\u5206\uff0c\u4e0b\u9762\u662f\u6211\u7684\u4e00\u4e9b\u7b80\u5355\u7684\u603b\u7ed3\u548c\u60f3\u6cd5\u3002\u5bf9\u7b2c\u4e8c\u90e8\u5206\u66f4\u662f\u671f\u5f85\uff01<\/p>\n<p><!--more--><\/p>\n<p style=\"text-align: center;\"><span style=\"text-decoration: underline; \"><strong>Part I: Roles and Responsibilities<\/strong><\/span><\/p>\n<ul>\n<li><strong>CEO<\/strong><\/li>\n<\/ul>\n<p>CEO\u6700\u53d7\u653b\u51fb\u7684\u70b9\u662f\u5de5\u8d44\u592a\u9ad8\u3002\u9ad8\u53ef\u4ee5\u88ab\u4e00\u79cdmechanism\u6765\u89e3\u91ca\uff0c\u6bd4\u5982\u6709\u4e00\u4f4d\u80fd\u529b\u5f88\u5f3a\u7684\u4eba\u624dA\u505a\u4e00\u5bb6\u5f88\u70c2\u7684\u516c\u53f8\u7684CEO\uff0c\u5de5\u8d44\u662fX\uff0c\u7136\u540e\u4ed6\u901a\u8fc7\u5404\u79cd\u52aa\u529b\u628a\u516c\u53f8\u626d\u4e8f\u4e3a\u76c8\u5e76\u8d70\u4e0a\u6b63\u8f68\uff0c\u7ec8\u4e8e\u53ef\u4ee5\u5f00\u59cb\u8f7b\u677e\u4e00\u70b9\u4e86\u3002\u7136\u540e\u53e6\u6709\u4e00\u5bb6\u516c\u53f8\uff0c\u548c\u539f\u6765\u7684\u90a3\u4e2a\u70c2\u516c\u53f8\u6709\u7740\u7c7b\u4f3c\u7684\u95ee\u9898\uff0c\u4ed6\u4eec\u4e5f\u60f3\u627e\u7c7b\u4f3c\u7684CEO\u6765\u89e3\u51b3\u8fd9\u4e9b\u95ee\u9898\uff0c\u4e8e\u662f\u4ed6\u4eec\u5c31\u53bb\u627eA\u3002\u6b64\u65f6\u7684A\u4e0d\u53ef\u80fd\u653e\u4e0b\u597d\u4e0d\u5bb9\u6613\u5df2\u7ecf\u8f7b\u677e\u4e86\u7684\u6d3b\u513f\uff0c\u7136\u540e\u53bb\u4e00\u5bb6\u65b0\u7684\u516c\u53f8\u505a\u66f4\u82e6\u66f4\u96be\u7684\u6d3b\u8fd8\u62ffX\u7684\u5de5\u8d44\u3002\u4e8e\u662f\u5373\u4fbf\u5728\u65b0\u516c\u53f8\u7684\u626d\u4e8f\u4e3a\u76c8\u7684\u6d3b\u548c\u8001\u516c\u53f8\u7684\u626d\u4e8f\u4e3a\u76c8\u7684\u6d3b\u662f\u4e00\u6837\u7684\u800c\u5f53\u521d\u505a\u626d\u4e8f\u4e3a\u76c8\u7684\u6d3b\u7684\u4ef7\u683c\u53ea\u662fX\uff0c\u5de5\u8d44\u5fc5\u7136\u662f\u4e0a\u6da8\u7684\u3002\u8fd8\u6709\u4e00\u4e2a\u95ee\u9898\u662f\uff0cCEO\u7684\u4efb\u547d\u3002\u5982\u679c\u4e0d\u662f\u90a3\u79cd\u81ea\u5df1\u521b\u5efa\u516c\u53f8\u7684CEO\uff0cCEO\u7684\u59d4\u6d3e\u5f80\u5f80\u4f1a\u6709\u5185\u90e8\u7684\u5173\u7cfb\u56e0\u7d20\uff0c\u90a3\u4f55\u5fc5\u4e0d\u7ed9\u4e2a\u9ad8\u85aa\u5462\uff1f\u4f46\u662f\u603b\u7684\u6765\u8bf4\uff0c\u4f5c\u8005\u4e0d\u63d0\u8bae\u5f3a\u5236\u8bbe\u5b9aCEO\u7684\u5de5\u8d44\u7684\u4e0a\u9650\uff0c\u6bd5\u7adf\u8fd9\u53ef\u4ee5\u88ab\u8ba4\u4f5c\u662f\u4e00\u79cd\u5e02\u573a\u884c\u4e3a\uff0c\u7684\u786e\u662f\u6709CEO\u5c31\u662f\u503c\u90a3\u4e2a\u9ad8\u85aa\u7684\u3002<\/p>\n<ul>\n<li><strong>Investment Managers<\/strong><\/li>\n<\/ul>\n<p>\u6295\u8d44\u7ecf\u7406\u88ab\u653b\u51fb\u7684\u70b9\u6709\u4e24\u4e2a\uff0c\u4e00\u4e2a\u548cCEO\u4e00\u6837\u662f\u5de5\u8d44\u592a\u9ad8\uff0c\u8fd8\u6709\u4e00\u4e2a\u662f\u4ed6\u4eec\u5176\u5b9e\u5e76\u6ca1\u6709\uff08\u4e0d\u80fd\uff09\u505a\u5230\u4ed6\u4eec\u6240\u5ba3\u79f0\u7684\u9ad8\u56de\u62a5\uff08\u4e3b\u8981\u662f\u540e\u9762\u8fd9\u4e2a\uff09\u3002<\/p>\n<p>\u5230\u5e95\u6295\u8d44\u7ecf\u7406\u7ba1\u7406\u7684\u56de\u62a5\u4f1a\u6bd4\u5e02\u573a\u4e0a\u7684\u5e73\u5747\u6c34\u5e73\u6216\u8005\u5e02\u573a\u4e0a\u7684\u975e\u79ef\u6781\u7ba1\u7406\u7684\u56de\u62a5\u9ad8\u5417\uff1f\u5982\u679c\u6309\u7167\u6709\u6548\u5e02\u573a\u7684\u7406\u8bba\uff0c\u4ef7\u683c\u662f\u5bf9\u53ca\u65f6\u4e14\u5bf9\u79f0\u7684\u4fe1\u606f\u7684\u4f53\u73b0\uff0c\u90a3\u4e48\u5c31\u6ca1\u6709\u9053\u7406\u6709\u4eba\u80fd\u505a\u7684\u66f4\u597d\u3002\u4f46\u662f\u8981\u4f7f\u5f97\u4ef7\u683c\u80fd\u591f\u53cd\u5e94\u4fe1\u606f\uff0c\u90a3\u5fc5\u7136\u9700\u8981\u6709\u52a8\u4f5c\u7684\u3002\u4e5f\u5c31\u662f\u8bf4\uff0c\u4ef7\u683c\u4e0d\u53ef\u80fd\u81ea\u5df1\u53bb\u8c03\u6574\u4ee5\u53cd\u5e94\u4fe1\u606f\uff0c\u5fc5\u7136\u662f\u6709\u4eba\uff08\u6bd4\u5982\u6295\u8d44\u7ecf\u7406\uff09\u53bb\u505a\u4e86\u4e00\u4e9b\u52a8\u4f5c\uff0c\u6bd4\u5982\u4fe1\u606f\u7684\u6536\u96c6\uff0c\u4ea4\u6613\u7684\u8fdb\u884c\u3002\u8fd9\u4e0d\u5c31\u6210\u4e86\u4e00\u79cd\u6096\u8bba\u5417\uff1f\u5fc5\u987b\u8981\u6709\u6295\u8d44\u7ecf\u7406\u7684\u5b58\u5728\uff0c\u624d\u4f1a\u6709\u6709\u6548\u5e02\u573a\uff1b\u5982\u679c\u6709\u4e86\u6709\u6548\u5e02\u573a\uff0c\u5c31\u4e0d\u9700\u8981\u6295\u8d44\u7ecf\u7406\u4e86\u3002<\/p>\n<p>\u53e6\u5916\uff0c\u5bf9\u4e8e\u6295\u8d44\u7ecf\u7406\u6765\u8bf4\uff0c\u8003\u6838\u4ed6\u4eec\u7684\u4e00\u4e2a\u6307\u6807\u53eb\u505aSharp ratio\uff0c\u5c31\u662f\u5355\u4f4d\u98ce\u9669\u7684\u989d\u5916\u56de\u62a5\u3002\u5f88\u76f4\u767d\u7684\u9053\u7406\u662f\uff0c\u9ad8\u98ce\u9669\u9ad8\u56de\u62a5\u3002\u4f46\u662f\u5728\u73b0\u5b9e\u751f\u6d3b\u4e2d\uff0c\u6240\u8c13\u7684\u98ce\u9669\u5176\u5b9e\u5e76\u4e0d\u662f\u6301\u7eed\u7684\u3002\u6bd4\u5982\u8bf4\u5371\u9669\u4e8b\u4ef6\u7684\u53d1\u751f\u6982\u7387\u662f80%\uff0c\u4f46\u662f\u5176\u5b9e\u8868\u73b0\u51fa\u6765\u7684\u5176\u5b9e\u662f\u5728\u4e00\u6bb5\uff08\u53ef\u80fd\u6bd4\u8f83\u77ed\u7684\uff09\u65f6\u95f4\u5185\u6ca1\u6709\u53d1\u751f\uff0c\u7136\u540e\u624d\u53d1\u751f\u4e86\u3002\u4f46\u662f\u53cd\u8fc7\u6765\u56de\u62a5\u5374\u662f\u770b\u7684\u5230\uff0c\u53ef\u4ee5\u771f\u5b9e\u8ba1\u7b97\u51fa\u6765\u5b9e\u9645\u503c\u7684\u3002\u6295\u8d44\u7ecf\u7406\u53ef\u4ee5\u91c7\u7528\u9ad8\u98ce\u9669\u7684\u9009\u9879\u6765\u8ffd\u6c42\u9ad8\u56de\u62a5\uff0c\u800c\u4e14\u53ea\u8981\u4ed6\u4eec\u5728\u4e00\u5f00\u59cb\u5c31\u62ab\u9732\u81ea\u5df1\u7684\u7b56\u7565\uff0c\u90a3\u4e48\u4ed6\u4eec\u5c31\u4e0d\u7528\u4e3a\u6b64\u627f\u62c5\u4ec0\u4e48\u4ee3\u4ef7\u3002<\/p>\n<ul>\n<li><strong>Bankers<\/strong><\/li>\n<\/ul>\n<p>\u8fd9\u91cc\u6307\u7684\u662f\u5546\u4e1a\u94f6\u884c\u3002\u94f6\u884c\u5bb6\u4eec\u88ab\u653b\u51fb\u7684\u70b9\u6709\u4e00\u70b9\u4e0d\u4e00\u6837\uff0c\u662f\u56e0\u4e3a\u4eba\u4eec\u89c9\u5f97\u4ed6\u4eec\u8111\u5b50\u91cc\u53ea\u6709\u94b1\u3002\u94f6\u884c\u7684\u4f5c\u7528\u6709\u63d0\u4f9b\u8d44\u91d1\u7684\u6d41\u52a8\u6027\uff0c\u5b83\u8fd8\u7ed9\u666e\u901a\u5927\u4f17\u63d0\u4f9b\u4e86\u4e00\u79cd\u4ee3\u4e3a\u6295\u8d44\u7684\u670d\u52a1\u3002\u5546\u4e1a\u94f6\u884c\u5f80\u5f80\u5728\u53d1\u5c55\u4e2d\u56fd\u5bb6\u91cc\u8d77\u6bd4\u8f83\u5927\u7684\u4f5c\u7528\uff0c\u800c\u5728\u53d1\u8fbe\u56fd\u5bb6\u626e\u6f14\u7684\u89d2\u8272\u8d8a\u6765\u8d8a\u5f31\u3002\u8fd1\u671f\u6bd4\u8f83\u4e25\u91cd\u7684\u95ee\u9898\u662f\u6240\u8c13\u7684shadow banks\uff0c\u8fd9\u4e9b\u94f6\u884c\u6253\u7740\u6295\u8d44\u94f6\u884c\u4e4b\u540d\u5728\u505a\u53ea\u6709\u5546\u4e1a\u94f6\u884c\u624d\u80fd\u505a\u7684\u4e8b\u60c5\uff0c\u540c\u65f6\u5e76\u6ca1\u6709\u63a5\u53d7\u76f8\u5173\u673a\u6784\u7684\u76d1\u7ba1\u3002\u8fd9\u662f\u5bfc\u81f4\u7ecf\u6d4e\u5371\u673a\u7684\u4e00\u4e2a\u91cd\u8981\u6e90\u5934\u3002\u5546\u4e1a\u94f6\u884c\u7684\u672a\u6765\u548c\u524d\u666f\u5728\u4e8e\u6c11\u4e3b\u5316\uff0c\u5373\u5efa\u6784\u9762\u5411\u66f4\u5927\u4f17\u66f4\u7a77\u4eba\u7684\u94f6\u884c\u670d\u52a1\u3002<\/p>\n<ul>\n<li><strong>Investment Bankers<\/strong><\/li>\n<\/ul>\n<p>\u6295\u8d44\u94f6\u884c\uff0c\u7b80\u5355\u6765\u8bf4\u5c31\u662f\u5e2e\u4f01\u4e1a\u53d1\u884c\u80a1\u7968\u7684\uff0c\u8981\u4e48\u5373\u4f7fIPO\uff0c\u8981\u4e48\u5c31\u662fseasonal offering\u3002\u5b83\u7684\u597d\u5904\u5f88\u660e\u663e\uff0c\u5c31\u662f\u5e2e\u52a9\u201c\u6c11\u4e3b\u5316\u201d\u3001\u201c\u4eba\u6027\u5316\u201d\u91d1\u878d\u5e02\u573a\uff0c\u4f7f\u5f97\u51e0\u4e4e\u6bcf\u4e2a\u4eba\u90fd\u6709\u673a\u4f1a\u53c2\u4e0e\u5176\u4e2d\u3002\u4f46\u662f\u6709\u4e00\u79cd\u89c2\u70b9\u8ba4\u4e3a\uff0c\u6240\u8c13\u7684\u80a1\u7968\u4ea4\u6613\uff0c\u5176\u5b9e\u548c\u8d4c\u535a\u5dee\u4e0d\u4e86\u591a\u5c11\u3002\u6211\u5bf9\u4e0a\u5e02\u8fd9\u4ef6\u4e8b\u60c5\u4e5f\u89c9\u5f97\u975e\u5e38\u7591\u60d1\uff0c\u4e3a\u4ec0\u4e48\u5927\u5bb6\u90fd\u8d76\u7740\u4e0a\u5e02\u8981IPO\u3002\u73b0\u5728\u770b\u8d77\u6765\uff0c\u597d\u50cf\u5927\u591a\u6570\u4f01\u4e1a\u4e0a\u5e02\u7684\u4e3b\u8981\u52a8\u673a\u5728\u4e8e\u5708\u94b1\u3002\u6211\u4e0d\u7406\u89e3\u7684\u662f\uff0c\u4e3a\u4ec0\u4e48\u4e00\u5bb6\u516c\u53f8\u7684\u4ef7\u503c\u5c31\u4f1a\u5e73\u767d\u65e0\u6545\u5730\u56e0\u4e3a\u201c\u4e0a\u5e02\u201d\u8fd9\u4e48\u4e00\u4ef6\u4e8b\u60c5\u800c\u7ffb\u4e2a\u51e0\u500d\u3002\u56e0\u4e3a\u5728\u6211\u770b\u6765\uff0c\u6240\u8c13\u4e0a\u5e02\uff0c\u53ea\u4e0d\u8fc7\u662f\u628a\u4e00\u5bb6\u516c\u53f8\u7684\u4ef7\u503c\u7528\u5e02\u573a\u7684\u773c\u5149\u4f53\u73b0\u51fa\u6765\uff0c\u7b49\u4e8e\u53ea\u662f\u4e00\u4e2a\u8bc4\u4f30\u7684\u8fc7\u7a0b\u3002\u8fd9\u4e2a\u8fc7\u7a0b\u53ea\u662f\u4e00\u4e2a\u5916\u90e8\u7684\u89c2\u5bdf\u52a8\u4f5c\uff0c\u600e\u4e48\u4f1a\u6539\u53d8\u8be5\u4f01\u4e1a\u672c\u8eab\u7684\u4ef7\u503c\u5462\uff1f\u5176\u6b21\uff0c\u6240\u8c13\u7684\u80a1\u4ef7\u5230\u5e95\u4f53\u73b0\u7684\u662f\u8fd9\u5bb6\u516c\u53f8\u7684\u4ef7\u503c\uff0c\u8fd8\u662f\u5728\u6295\u8d44\u8005\u5fc3\u76ee\u4e2d\u8fd9\u5bb6\u516c\u53f8\u7684\u4ef7\u503c\uff0c\u8fd8\u662f\u53ea\u662f\u6295\u8d44\u8005\u4e4b\u95f4\u7684\u535a\u5f08\u7684\u4ef7\u683c\uff1f\u6211\u89c9\u5f97\u5e94\u8be5\u662f\u524d\u4e24\u8005\uff0c\u4f46\u662f\u5b9e\u9645\u60c5\u51b5\u5374\u4f3c\u4e4e\u662f\u6700\u540e\u4e00\u9879\uff0c\u56e0\u4e3a\u80a1\u4ef7\u8bf4\u5230\u5e95\u8fd8\u662f\u4f9b\u9700\u5173\u7cfb\u7684\u7ed3\u679c\u3002\u4ece\u8fd9\u4e2a\u89d2\u5ea6\u6765\u770b\uff0c\u6295\u8d44\u94f6\u884c\u5728\u505a\u7684\u4e8b\u60c5\u5c31\u4f3c\u4e4e\u4e0d\u4ec5\u4ec5\u662f\u5e2e\u52a9\u4f01\u4e1a\u6210\u4e3a\u5728\u5e02\u573a\u4e0a\u6d41\u901a\u7684\u52a8\u4f5c\u4e86\u3002<\/p>\n<ul>\n<li><strong>Mortgage Lenders and Securitizers<\/strong><\/li>\n<\/ul>\n<p>\u4ece\u5b9a\u4e49\u51fa\u53d1\uff0c\u8fd9\u91cc\u7ec8\u4e8e\u6bd4\u8f83\u660e\u663e\u5730\u6d89\u53ca\u5230\u4e86finance\u5bf9good society\u7684\u8d21\u732e\u3002\u56e0\u4e3a\u5728good society\u91cc\u9762\uff0c\u4eba\u4eec\u603b\u662f\u5e0c\u671b\u53ef\u4ee5\u62e5\u6709\u5c5e\u4e8e\u81ea\u5df1\u7684\u4e00\u4e2a\u5bb6\uff08\u4e00\u5904\u623f\u4ea7\uff09\u7684\u3002\u800c\u8fd9\u7b14\u4e0d\u52a8\u4ea7\u7684\u7f6e\u529e\u8d39\u7528\u5982\u6b64\u4e4b\u5927\uff0c\u51e0\u4e4e\u5f88\u5c11\u7684\u666e\u901a\u4eba\u53ef\u4ee5\u5728\u4e0d\u8d37\u6b3e\u7684\u524d\u63d0\u4e0b\u4f01\u53ca\u3002\u4e8e\u662f\u623f\u8d37\u62b5\u62bc\u81ea\u7136\u662f\u5e2e\u52a9\u666e\u901a\u4eba\u53ef\u4ee5\u4e70\u623f\u7684\u4e00\u4e2a\u9014\u5f84\uff0c\u5e2e\u52a9\u5f80good society\u8d70\u7684\u4e00\u4e2a\u9014\u5f84\u3002\u4f46\u662f\u73b0\u5728\u63d0\u5230mortgage\uff0c\u90a3\u4f3c\u4e4e\u6210\u4e86\u7f8e\u56fd\u516c\u6c11\u7684\u4f17\u77e2\u4e4b\u7684\uff0c\u56e0\u4e3a\u8fd1\u671f\u7684\u7ecf\u6d4e\u5371\u673a\u5c31\u8d77\u6e90\u4e8e\u6b21\u8d37\u7684\u5d29\u6e83\u3002<\/p>\n<p>\u8fd9\u4ef6\u4e8b\u60c5\u7684mechanism\u662f\u8fd9\u6837\u7684\u3002\u9996\u5148\uff0c\u6709\u4e09\u65b9\u53c2\u4e0e\u4e70\u623f\u7684\u52a8\u4f5c\uff1a\u4e70\u623f\u8005\uff08\u501f\u94b1\u4e70\u623f\uff0c\u5e76\u7528\u623f\u4ea7\u4f5c\u4e3a\u62b5\u62bc\uff09\u3001\u94f6\u884c\uff08\u8d37\u6b3e\u501f\u51fa\u8005\uff09\u548c\u653f\u5e9c\uff08\u62c5\u4fdd\u65b9\uff09\u3002\u5728\u8fd9\u4e2a\u6b65\u9aa4\u4e0a\uff0c\u5176\u5b9e\u5c31\u5df2\u7ecf\u80fd\u770b\u5230\u4e00\u4e9b\u77db\u76fe\uff0c\u867d\u7136\u8fd9\u4e09\u65b9\u7684\u7ec8\u6781\u76ee\u6807\u53ef\u4ee5\u8bf4\u662f\u4e00\u81f4\u7684\uff0c\u5c31\u662f\u4e3a\u4e86\u8ba9\u4eba\u62e5\u6709\u623f\u5b50\uff0c\u4f46\u662f\u8fd9\u4e09\u65b9\u5728\u5bf9\u8fd9\u4ef6\u4e8b\u60c5\u7684\u8003\u8651\u548c\u65f6\u95f4\u7eac\u5ea6\u4e0a\u662f\u4e0d\u4e00\u81f4\u7684\u3002\u7b2c\u4e8c\u6b65\uff0c\u662f\u628a\u62b5\u62bc\u7684\u8fd9\u4e9b\u623f\u4ea7\uff0c\u8f6c\u5316\u6210\u7531\u62b5\u62bc\u652f\u6301\u7684\u503a\u5238RMBS\uff08Residential Mortgage-backed Security\uff09\uff0c\u8fd9\u5c31\u53ef\u4ee5\u76f4\u63a5\u5356\u7ed9\u5e7f\u5927\u6295\u8d44\u8005\u3002\u7b2c\u4e09\u6b65\uff0c\u662f\u94f6\u884c\u4f1a\u628a\u8fd9\u4e9bRMBS\u518d\u6b21\u6253\u5305\u7ec4\u5408\uff0c\u505a\u6210CDO\uff08Collateralized Debt Obligations\uff09\uff0c\u5206\u6210\u4e0d\u540c\u7684\u6863\u6b21\uff0c\u4f9d\u7167\u98ce\u9669\u56de\u62a5\u5206\u522b\u51fa\u552e\u3002\u8fd9\u4e00\u6b65\u5c31\u7275\u626f\u5230\u4e86\u8bc4\u7ea7\u673a\u6784\u5bf9\u4e8e\u6bd4\u8f83\u9ad8\u6863\u6b21\u7684CDO\u7684\u8bc4\u7ea7\uff0c\u4e8b\u5b9e\u4e0a\u5f80\u5f80\u4ed6\u4eec\u8bc4\u9ad8\u4e86\u3002\u800c\u6700\u7ec8\u5d29\u584c\u7684\u539f\u56e0\uff0c\u662f\u4e0d\u7ba1\u54ea\u4e00\u6b65\u7684\u53c2\u4e0e\u8005\u90fd\u5171\u4eab\u4e86\u4e00\u4e2a\u524d\u63d0\u5047\u8bbe\u5373\u201c\u623f\u4ef7\u4e0d\u4f1a\u8dcc\u201d\u3002\u4e5f\u5c31\u662f\u8bf4\uff0c\u5176\u5b9e\u95ee\u9898\u7684\u5173\u952e\u5e76\u4e0d\u4e3b\u8981\u662f\u7cfb\u7edf\u4e0a\uff0c\u800c\u5728\u4e8e\u8fd9\u4e2a\u7cfb\u7edf\u7684\u53c2\u4e0e\u8005\u7684\u9ed8\u8ba4\u5047\u8bbe\u3002<\/p>\n<p>\u6211\u89c9\u5f97\u8fd9\u4e00\u7ae0\u4e0d\u4ec5\u8bf4\u7684\u6709\u9053\u7406\uff0c\u800c\u4e14\u5f88\u6709\u8b66\u793a\u4f5c\u7528\u3002\u6211\u89c9\u5f97\u7f8e\u56fd\u51fa\u73b0\u7684\u6b21\u8d37\u5371\u673a\uff0c\u662f\u56e0\u4e3a\u623f\u4ef7\u8dcc\u4e86\uff1b\u800c\u4e2d\u56fd\u7684\u623f\u4ea7\u5e02\u573a\u7684\u6ce1\u6ce1\u90a3\u4e48\u5927\uff0c\u5df2\u7ecf\u4e0d\u4ec5\u4ec5\u662f\u8dcc\u90a3\u4e48\u8f7b\u6613\u4e86\u3002\u4eba\u5bb6\u7f8e\u56fd\u5c31\u597d\u50cf\u662f\u8001\u4eba\u5bb6\u5e74\u7eaa\u5927\u4e86\u8eab\u4f53\u7f29\u4e86\u53d8\u77ee\u4e86\uff0c\u800c\u4e2d\u56fd\u73b0\u5728\u6839\u672c\u5c31\u662f\u8e29\u7740\u9ad8\u8df7\u5728\u4e91\u91cc\uff0c\u8dcc\u8d77\u8de4\u6765\u662f\u6454\u6b7b\u7684\u8282\u594f\u3002\u4f46\u662f\u73b0\u5728\u4e2d\u56fd\u4eba\u7684\u5fc3\u6001\u5927\u591a\u662f\u623f\u4ea7\u6ce1\u6cab\u5982\u679c\u7834\u4e86\uff0c\u90a3\u80af\u5b9a\u4ec0\u4e48\u7ecf\u6d4e\u5c31\u90fd\u5d29\u6e83\u4e86\uff0c\u653f\u5e9c\u4e0d\u4f1a\u5141\u8bb8\u8fd9\u79cd\u4e8b\u60c5\u53d1\u751f\u7684\u3002\u8fd9\u4f3c\u4e4e\u548c\u7f8e\u56fd\u4eba\u7684\u5fc3\u6001\u662f\u4e00\u6a21\u4e00\u6837\u7684\uff0c\u53ea\u4e0d\u8fc7\u6211\u56fd\u653f\u5e9c\u5bf9\u6211\u4eec\u6765\u8bf4\u662f\u5426\u6bd4\u7f8e\u56fd\u653f\u5e9c\u5bf9\u4e8e\u7f8e\u56fd\u4eba\u6765\u8bf4\u66f4\u503c\u5f97\u4fe1\u4efb\uff1f\u4e5f\u6b63\u662f\u56e0\u4e3a\u5728\u8fd9\u79cd\u5fc3\u6001\u4e4b\u4e0b\uff0c\u623f\u4ef7\u81ea\u7136\u662f\u4e0d\u8dcc\u53ea\u5347\u7684\uff0c\u56e0\u4e3a\u4e0d\u7ba1\u4ee5\u4ec0\u4e48\u4e0d\u5408\u7406\u7684\u4ef7\u683c\u4e70\u4e0b\u7684\u623f\u4ea7\u90fd\u4f1a\u6709\u53e6\u4e00\u4e2a\u5bf9\u56fd\u5bb6\u6709\u4fe1\u5fc3\u7684\u4eba\u6765\u6536\u8d70\u3002\u6b64\u65f6\uff0c\u53c8\u53d8\u6210\u4e86\u623f\u5730\u4ea7\u7684\u4ef7\u503c\u4e0d\u662f\u5176\u5185\u5728\u771f\u6b63\u7684\u4ef7\u503c\uff0c\u53ea\u662f\u88ab\u4e00\u5e2e\u5b50\u6709\u4fe1\u5fc3\u7684\u4e50\u89c2\u4e3b\u4e49\u8005\u773c\u4e2d\u7684\u4ef7\u503c\u3002\u4e0d\u5bf9\uff0c\u4ed6\u4eec\u81ea\u5df1\u4e0d\u9700\u8981\u662f\u6709\u4fe1\u5fc3\u7684\u4e50\u89c2\u4e3b\u4e49\u8005\uff0c\u53ea\u9700\u8981\u4ed6\u4eec\u76f8\u4fe1\u8fd8\u6709\u4e00\u5e2e\u5b50\u6709\u4fe1\u5fc3\u7684\u4e50\u89c2\u4e3b\u4e49\u8005\u7684\u5b58\u5728\uff01<\/p>\n<ul>\n<li><strong>Traders and Market Makers<\/strong><\/li>\n<\/ul>\n<p>\u4ea4\u6613\u5458\u7684\u4f5c\u7528\u662f\u4f7f\u5f97\u5e02\u573a\u66f4\u4e3a\u6709\u6548\u3001\u56e0\u6b64\u4ef7\u683c\u4e5f\u66f4\u80fd\u4f53\u73b0\u771f\u6b63\u7684\u4ef7\u503c\u3002\u4f46\u662f\u4eba\u4eec\u5bf9\u4ea4\u6613\u5458\u7684\u610f\u89c1\u5728\u4e8e\uff0c\u8fd9\u4e9b\u4ea4\u6613\u5458\u5f80\u5f80\u4e0d\u662f\u4e3a\u4e86\u4f7f\u5f97\u5e02\u573a\u66f4\u6709\u6548\u800c\u5de5\u4f5c\uff0c\u800c\u4ec5\u4ec5\u662f\u4e3a\u4e86\u5728\u4ea4\u6613\u4e2d\u53d6\u5f97\u81ea\u5df1\u7684\u5229\u76ca\u3002\u80fd\u5426\u53d6\u5f97\u5229\u76ca\u53d6\u51b3\u4e8e\u4ea4\u6613\u5458\u662f\u5426\u80fd\u5728\u8fd9\u573a\u4ea4\u6613\u8d4c\u535a\u4e2d\u7684\u8d4c\u6280\uff0c\u4f46\u662f\u56e0\u4e3a\u800c\u53d7\u5230\u5371\u9669\u7684\u8d4c\u535a\u7b79\u7801\u5374\u4e0d\u662f\u4ea4\u6613\u5458\u81ea\u5df1\u53e3\u888b\u91cc\u7684\u94b1\u3002\u4ea4\u6613\u5458\u4e1a\u754c\u7684\u5171\u8bc6\u4f3c\u4e4e\u662f\uff0c\u6240\u8c13\u7684\u4ea4\u6613\u7684\u4e13\u4e1a\u5c31\u5728\u4e8e\u5982\u4f55\u5360\u5230\u4fbf\u5b9c\uff0c\u5e76\u4e14\u4ed6\u4eec\u81ea\u5df1\u5bf9\u6b64\u4e0d\u613f\u591a\u8c08\uff0c\u90a3\u81ea\u7136\u4f1a\u5f15\u8d77\u5916\u90e8\u7684\u79cd\u79cd\u4e0d\u6ee1\u3002<\/p>\n<p>\u6709\u4e00\u79cd\u7406\u8bba\u79f0\uff0c\u5e02\u573a\u548c\u4ea4\u6613\u7684\u5173\u7cfb\u53ef\u7c7b\u6bd4\u4e8e\u4eba\u8eab\u4e0a\u7684\u591a\u5df4\u80fa\uff0c\u591a\u5df4\u80fa\u662f\u4eba\u8111\u7684\u4e00\u79cd\u5206\u6ccc\u7269\uff0c\u53ef\u4ee5\u5f71\u54cd\u4e00\u4e2a\u4eba\u7684\u60c5\u7eea\u3002\u591a\u5df4\u80fa\u7cfb\u7edf\u9762\u5bf9\u4fe1\u53f7\u7684\u53cd\u5e94\u662f\u5b83\u63a5\u53d7\u7a81\u51fa\u7684\u4fe1\u53f7\uff0c\u5982\u679c\u8be5\u4fe1\u53f7\u548c\u4e4b\u540e\u7684\u5b9e\u9645\u60c5\u51b5\u4e00\u81f4\u90a3\u5c31\u4e0d\u4f1a\u53d1\u751f\u4ec0\u4e48\uff0c\u5982\u679c\u4fe1\u53f7\u548c\u4e4b\u540e\u7684\u5b9e\u9645\u60c5\u51b5\u4e0d\u4e00\u81f4\uff0c\u90a3\u4e48\u5219\u4f1a\u964d\u5230\u4e0d\u5bfb\u5e38\u7684\u4f4e\u503c\u3002\u5e02\u573a\u5bf9\u4fe1\u606f\u7684\u53cd\u5e94\u4e5f\u662f\u5982\u6b64\uff0c\u5f80\u5f80\u662f\u5728\u53d1\u5e03\u53d1\u653e\u5229\u606f\u7684\u65f6\u5019\u80a1\u4ef7\u4f1a\u6709\u53cd\u5e94\uff0c\u53cd\u800c\u5728\u771f\u6b63\u53d1\u653e\u5229\u606f\u7684\u65f6\u5019\u53cd\u5e94\u5e73\u7a33\uff0c\u5982\u679c\u771f\u6b63\u53d1\u653e\u5229\u606f\u548c\u4e4b\u524d\u9884\u62a5\u7684\u4e0d\u4e00\u6837\uff0c\u90a3\u53cd\u5e94\u4f1a\u53d8\u4e0d\u5bfb\u5e38\u3002<\/p>\n<p>\u7ecf\u5e38\u4f1a\u542c\u5230\u4eba\u4eec\u53cd\u5bf9\u884d\u751f\u5e02\u573a\u7684\u53d1\u5c55\uff0c\u4eba\u4eec\u5f80\u5f80\u5bf9\u8fd9\u79cd\u5173\u4e8e\u7269\u4ef7\u3001GDP\u3001\u623f\u5730\u4ea7\u7684\u884d\u751f\u5e02\u573a\u4ea4\u6613\u7684\u8fd0\u4f5c\u6709\u62b5\u89e6\u60c5\u7eea\uff0c\u89c9\u5f97\u8fd9\u79cd\u4ea4\u6613\u5176\u5b9e\u662f\u7ed9\u6295\u673a\u53d6\u5de7\u7684\u4eba\u5236\u9020\u673a\u4f1a\u3002\u4f46\u662f\u4eba\u4eec\u5374\u4e1d\u6beb\u6ca1\u6709\u60f3\u8981\u4f38\u5f20\u5173\u95ed\u73b0\u6709\u7684\u80a1\u7968\u6216\u503a\u5238\u5e02\u573a\u4ea4\u6613\u7684\u60f3\u6cd5\u3002\u5176\u5b9e\u5b83\u4eec\u672c\u8d28\u4e0a\u90fd\u662f\u4ea4\u6613\uff0c\u5dee\u522b\u4ec5\u4ec5\u5728\u4e8e\u4eba\u4eec\u4f3c\u4e4e\u503e\u5411\u4e8e\u8ba4\u4e3a\u884d\u751f\u5e02\u573a\u7684\u4ea4\u6613\u5bb9\u6613\u5f15\u53d1\u9053\u5fb7\u95ee\u9898\uff0c\u4f46\u662f\u771f\u6b63\u5bfc\u81f4\u95ee\u9898\u7684\u662f\u6ca1\u6709\u597d\u597d\u638c\u63a7\u98ce\u9669\u3002<\/p>\n<ul>\n<li><strong>Insurers<\/strong><\/li>\n<\/ul>\n<p>\u5173\u4e8e\u4fdd\u9669\u4e1a\uff0c\u4f5c\u8005\u4eceBP\u57282010\u5e74\u7684\u4e00\u6b21\u77f3\u6cb9\u6cc4\u6f0f\u8bf4\u8d77\uff0c\u4ed6\u89c9\u5f97\u5a92\u4f53\u5938\u5927\u4e86\u8fd9\u6b21\u6cc4\u6f0f\u7684\u635f\u5931\uff0c\u4f46\u662f\u4e8b\u5b9e\u4e0a\u8fd9\u8d77\u4e8b\u6545\u5927\u90e8\u5206\u7684\u635f\u5931\u90fd\u88ab\u4fdd\u9669\u5305\u542b\u4e86\uff0c\u552f\u4e00\u6700\u5927\u7684\u635f\u5931\u662f\u90a3\u4e9b\u56e0\u6b64\u4e8b\u6545\u800c\u4e27\u751f\u7684\u8239\u5458\u3002\u4fdd\u9669\u7684\u4f5c\u7528\uff0c\u542c\u8d77\u6765\u4f3c\u4e4e\u6709\u8bbd\u523a\u610f\u5473\uff0c\u5728\u4e8e\u4e0d\u7ba1\u4ec0\u4e48\u4e8b\u6545\u635f\u8017\u90fd\u4e0d\u4f1a\u6709\u592a\u5927\u5f71\u54cd\uff0c\u53ea\u8981\u4e0d\u662f\u90a3\u79cd\u5168\u7403\u6027\u7684\u5927\u707e\u96be\u3002\u4fdd\u9669\u7684\u6c11\u4e3b\u5316\uff0c\u662f\u4f7f\u66f4\u591a\u7684\u5927\u4f17\u80fd\u591f\u4eab\u53d7\u5230\u4fdd\u9669\u7684\u670d\u52a1\uff0c\u800c\u8fd9\u79cd\u4fdd\u9669\u5e94\u5f53\u662f\u7b80\u5355\u660e\u4e86\u7684\u3002\u4fdd\u9669\u7684\u4eba\u6027\u5316\uff0c\u662f\u80fd\u591f\u4e3a\u4eba\u4eec\u7684\u4e00\u4e9b\u957f\u671f\u7684\u56f0\u6270\u505a\u4fdd\u9669\uff0c\u6bd4\u5982\u751f\u547d\u3001\u5065\u5eb7\u7b49\u7b49\u3002<\/p>\n<p>\u8bf4\u5230\u4fdd\u9669\u4e1a\uff0c\u6211\u60f3\u5230\u7684\u7adf\u7136\u662f\u789f\u5f62\u4e16\u754c\u91cc\u7684Twoflower &#8211; -|||<\/p>\n<ul>\n<li><strong>Market Designers and Financial Engineers<\/strong><\/li>\n<\/ul>\n<p>\u5e02\u573a\u8bbe\u8ba1\u5e08\uff0c\u662f\u6307\u901a\u8fc7\u8bbe\u8ba1\u5e02\u573a\u548c\u76f8\u5173\u4ea4\u6613\u5408\u540c\u6765\u89e3\u51b3\u666e\u901a\u4eba\u9047\u5230\u7684\u5b9e\u9645\u7684\u7a98\u5883\u3002\u6700\u663e\u8457\u7684\u4f8b\u5b50\u5c31\u662f\u505a\u5a92\u670d\u52a1\uff0c\u8fd9\u770b\u8d77\u6765\u4f3c\u4e4e\u4e0d\u662f\u4ec0\u4e48\u548c\u8d22\u52a1\u91d1\u878d\u76f8\u5173\u7684\u4e8b\u60c5\uff0c\u4f46\u662f\u6709\u62a5\u5bfc\u6307\u51fa\u4eba\u4eec\u4e4b\u6240\u4ee5\u5355\u8eab\uff0c\u5176\u5b9e\u5e76\u975e\u56e0\u4e3a\u5f88\u96be\u78b0\u5230\u5176\u4ed6\u5355\u8eab\u7684\u4eba\uff08\u5355\u8eab\u5bf9\u65b9\u7684\u4f9b\u5e94\u91cf\u4e0d\u5c0f\uff09\uff0c\u800c\u662f\u56e0\u4e3a\u4ed6\u4eec\u5f88\u96be\u5224\u65ad\u4ed6\u4eec\u6240\u671f\u671b\u7684\u5bf9\u65b9\u8eab\u4e0a\u7684\u54c1\u6027\u7684\u4f9b\u5e94\u60c5\u51b5\uff0c\u8fd9\u5c31\u5f88\u663e\u7136\u662f\u5e02\u573a\u8bbe\u8ba1\u5e08\u53ef\u4ee5\u5e2e\u5fd9\u7684\u5730\u65b9\u3002<\/p>\n<ul>\n<li><strong>Derivatives Providers<\/strong><\/li>\n<\/ul>\n<p>\u884d\u751f\u4ea7\u54c1\uff0c\u5728\u73b0\u5728\u542c\u8d77\u6765\u51e0\u4e4e\u662f\u4e00\u4e2a\u8d2c\u4e49\u8bcd\u3002\u6240\u8c13\u7684\u884d\u751f\u4ea7\u54c1\uff0c\u5305\u62ec\u671f\u8d27\uff08\u5728\u73b0\u5728\u8bbe\u5b9a\u672a\u6765\u67d0\u65e5\u4ea4\u6613\u7684\u4ef7\u683c\uff09\u548c\u671f\u6743\uff08\u5728\u73b0\u5728\u4ea4\u6613\u7684\u5728\u672a\u6765\u67d0\u65e5\u6216\u67d0\u65e5\u4e4b\u524d\u4ee5\u8bbe\u5b9a\u4ef7\u683c\u51fa\u552e\u6216\u8005\u4e70\u5165\u7684\u6743\u5229\uff09\u3002\u636e\u8bf4\u6700\u65e9\u7684\u884d\u751f\u4ea7\u54c1\u7684\u4f8b\u5b50\uff0c\u662f\u516c\u5143\u524d\u7684\u5e0c\u814a\u54f2\u5b66\u5bb6\u6cf0\u52d2\u65af\u4e3a\u4e86\u8bc1\u660e\u54f2\u5b66\u5bb6\u4e5f\u80fd\u8d5a\u94b1\u800c\u521b\u9020\u7684\u3002\u6cf0\u52d2\u65af\u4ed8\u4e86\u4e00\u7b14\u94b1\uff0c\u5f97\u5230\u5728\u6536\u83b7\u540e\u4ee5\u67d0\u4e00\u7279\u5b9a\u4ef7\u683c\u8d2d\u4e70\u6a44\u6984\u7684\u6743\u5229\uff0c\u7136\u540e\u6a44\u6984\u5927\u6da8\uff0c\u6cf0\u52d2\u65af\u5927\u8d5a\u3002<\/p>\n<p>\u5728\u9762\u5bf9\u884d\u751f\u4ea7\u54c1\u7684\u65f6\u5019\uff0c\u7279\u522b\u662f\u671f\u6743\uff0c\u6211\u4e00\u76f4\u975e\u5e38\u56f0\u60d1\u3002\u56e0\u4e3a\u4e0d\u7ba1\u662fcall option\u8fd8\u662fput option\uff0c\u5176\u5b9e\u53ef\u4ee5\u7b49\u540c\u4e8e\u8d2d\u4e70\u8fd9\u4e2a\u671f\u6743\u7684\u90a3\u65b9\u8d2d\u4e70\u4e86\u4e00\u79cd\u4fdd\u9669\uff0c\u4ece\u800c\u63a7\u5236\u4e86\u4e00\u5b9a\u7684\u98ce\u9669\u3002\u4f46\u662f\u95ee\u9898\u662f\uff0c\u8fd9\u79cd\u98ce\u9669\u7684\u63a7\u5236\u53c8\u548c\u4fdd\u9669\u516c\u53f8\u80fd\u5e26\u6765\u7684\u98ce\u9669\u63a7\u5236\u4e0d\u4e00\u6837\uff0c\u56e0\u4e3a\u4fdd\u9669\u516c\u53f8\u548c\u4fdd\u9669\u8d2d\u4e70\u8005\u7684\u5229\u76ca\u5e76\u975e\u662f\u96f6\u548c\u7684\uff0c\u800c\u671f\u6743\u7684\u8d2d\u4e70\u8005\u548c\u51fa\u552e\u8005\u7684\u5229\u76ca\u662f\u96f6\u548c\u7684\uff0c\u90a3\u4e48\u5982\u679c\u671f\u6743\u7684\u51fa\u552e\u8005\u548c\u8d2d\u4e70\u8005\u4e00\u6837\u806a\u660e\u7684\u8bdd\uff0c\u4ed6\u4eec\u600e\u4e48\u4f1a\u7b54\u5e94\u8fd9\u7b14\u4ea4\u6613\u5462\uff1f\u5e02\u573a\u4e0a\uff0c\u54ea\u91cc\u6765\u7684\u90a3\u4e48\u591a\u613f\u610f\u51fa\u552e\u671f\u6743\u7684\u4eba\u5462\uff1f<\/p>\n<p>\u6709\u7814\u7a76\u663e\u793a\uff0c\u5176\u5b9e\u5728\u884d\u751f\u4ea7\u54c1\u5e02\u573a\u7684\u4ea4\u6613\u4e2d\uff0c\u5b58\u5728\u7740\u79cd\u79cd\u975e\u7406\u6027\u3002\u5982\u679c\u8bf4\u7ecf\u6d4e\u6ca1\u6709\u6548\u7387\uff0c\u90a3\u662f\u56e0\u4e3a\u7f3a\u4e4f\u98ce\u9669\u7684\u5e02\u573a\uff08\u6ca1\u6709\u4eba\u53bb\u8bc4\u4f30\u98ce\u9669\uff09\u3002\u7167\u9053\u7406\uff0c\u884d\u751f\u4ea7\u54c1\u7684\u5e02\u573a\u6b63\u597d\u586b\u8865\u4e86\u8fd9\u4e00\u7a7a\u7f3a\uff0c\u5b83\u5176\u5b9e\u662f\u53ef\u4ee5\u4f53\u73b0\u98ce\u9669\u7684\u4ef7\u683c\u7684\u3002\u800c\u5728\u73b0\u5b9e\u4e2d\uff0c\u53c2\u4e0e\u884d\u751f\u4ea7\u54c1\u4ea4\u6613\u7684\u4eba\uff0c\u5f80\u5f80\u5e76\u4e0d\u662f\u5728\u60f3\u8981\u63a7\u5236\u98ce\u9669\uff0c\u800c\u662f\u4ee5\u4e3a\u81ea\u5df1\u53ef\u4ee5\u66f4\u597d\u7684\u9884\u6d4b\u5e02\u573a\u800c\u4ece\u4e2d\u725f\u5229\u3002\u5982\u679c\u6709\u671d\u4e00\u65e5\uff0c\u671f\u6743\u771f\u7684\u53ef\u4ee5\u4f53\u73b0\u98ce\u9669\u4ef7\u503c\u7684\u65f6\u5019\uff0c\u90a3\u4e48\u5b83\u5c06\u5bf9\u6574\u4e2a\u597d\u793e\u4f1a\u8d77\u5230\u4fc3\u8fdb\u4f5c\u7528\u3002<\/p>\n<ul>\n<li><strong>Lawyers and Financial Advisers<\/strong><\/li>\n<\/ul>\n<p>\u968f\u7740\u673a\u5668\u548c\u4eba\u5de5\u667a\u80fd\u7684\u4e0d\u65ad\u53d1\u5c55\uff0c\u4f3c\u4e4e\u8d8a\u6765\u8d8a\u591a\u7684\u5de5\u4f5c\u53ef\u4ee5\u88ab\u673a\u5668\u6216\u8005\u8ba1\u7b97\u673a\u53d6\u4ee3\uff0c\u4f46\u662f\u90a3\u4e9b\u9700\u8981\u601d\u8003\u548c\u590d\u6742\u4ea4\u6d41\u7684\u5de5\u4f5c\u5219\u5f88\u96be\u5728\u53ef\u9884\u89c1\u7684\u672a\u6765\u5185\u88ab\u53d6\u4ee3\u3002\u5f8b\u5e08\u548c\u8d22\u52a1\u987e\u95ee\u5c31\u6b63\u597d\u5c5e\u4e8e\u8fd9\u4e00\u7c7b\uff0c\u56e0\u4e3a\u4ed6\u4eec\u6240\u5177\u5907\u7684\u4e0d\u4ec5\u4ec5\u662f\u8be6\u5c3d\u7684\u4e13\u4e1a\u77e5\u8bc6\uff0c\u8fd8\u62c5\u8d1f\u7740\u601d\u8003\u89e3\u51b3\u95ee\u9898\u7684\u65b9\u6cd5\u3001\u4e0e\u5ba2\u6237\u4eba\u6027\u5316\u4ea4\u6d41\u7684\u8d23\u4efb\u3002\u73b0\u5728\u6709\u4e00\u4e9b\u7f51\u7ad9\u662f\u63d0\u4f9b\u673a\u68b0\u5316\u7684\u8d22\u52a1\u987e\u95ee\u670d\u52a1\u7684\uff0c\u4f46\u662f\u5373\u4fbf\u5982\u6b64\uff0c\u5728\u8fd9\u4e9b\u7b97\u6cd5\u540e\u9762\u8fd8\u662f\u9700\u8981\u771f\u6b63\u7684\u8d22\u52a1\u987e\u95ee\u7684\u652f\u6491\u3002\u6cd5\u5f8b\u548c\u5f8b\u5e08\u4e5f\u662f\u540c\u6837\u7684\u9053\u7406\u3002<\/p>\n<p>\u73b0\u5728\u7684\u95ee\u9898\u662f\uff0c\u4e0d\u7ba1\u662f\u5f8b\u5e08\u8fd8\u662f\u8d22\u52a1\u987e\u95ee\uff0c\u4eba\u6570\u90fd\u5f88\u4e0d\u5145\u8db3\uff0c\u8fd9\u5c31\u5bfc\u81f4\u4e86\u5f80\u5f80\u53ea\u6709\u5df2\u7ecf\u5f88\u6709\u94b1\u7684\u4eba\u624d\u80fd\u4eab\u53d7\u5230\u4ed6\u4eec\u7684\u670d\u52a1\u3002\u800c\u6cd5\u5f8b\u548c\u8d22\u52a1\u987e\u95ee\u7684\u670d\u52a1\u5185\u5bb9\u5176\u5b9e\u5305\u62ec\u4e86\u5e2e\u52a9\u7406\u89e3\u6211\u4eec\u9762\u4e34\u7684\u91d1\u878d\u4e16\u754c\uff0c\u6bd4\u5982\u8bf4\u623f\u5730\u4ea7\u7684\u62b5\u62bc\u3001\u4fe1\u7528\u5361\u7684\u5408\u540c\u7b49\u7b49\u3002\u8fd9\u4e00\u7f3a\u53e3\uff0c\u90e8\u5206\u5730\u88ab\u91d1\u878d\u4ea7\u54c1\u7684\u9500\u552e\u8005\u586b\u8865\u4e86\uff0c\u4f46\u662f\u8fd8\u5f88\u4e0d\u591f\u3002\u4e5f\u6709\u4eba\u4e89\u8fa9\u8bf4\uff0c\u5373\u4fbf\u6709\u4e86\u5f8b\u5e08\u548c\u8d22\u52a1\u987e\u95ee\u7684\u5e2e\u52a9\uff0c\u4ed6\u4eec\u672a\u5fc5\u4e5f\u80fd\u4e0d\u72af\u4e0b\u7c7b\u4f3c\u9020\u6210\u91d1\u878d\u5371\u673a\u7684\u9519\u8bef\u3002\u5373\u4fbf\u5982\u6b64\uff0c\u6211\u4eec\u8fd8\u662f\u9700\u8981\u901a\u8fc7\u5bf9\u8fd9\u4e24\u4e2a\u804c\u4e1a\u7684\u53d1\u5c55\uff08\u5305\u62ec\u56fd\u5bb6\u7684\u8865\u8d34\uff09\uff0c\u6765\u6784\u9020\u66f4\u597d\u7684\u8d22\u52a1\u8d44\u672c\u4e3b\u4e49\u3002<\/p>\n<p>\u6211\u8bb0\u5f97\u5f53\u5e74\u5b66\u897f\u65b9\u7ecf\u6d4e\u5b66\uff0c\u8bf4\u6700\u57fa\u672c\u7684\u4e00\u6761\u5047\u8bbe\u662f\u201c\u4eba\u662f\u7406\u6027\u7684\u201d\uff0c\u7136\u540e\u624d\u53ef\u80fd\u901a\u8fc7\u5404\u79cd\u5efa\u6a21\u6765\u7406\u89e3\u7ecf\u6d4e\u3002\u4f46\u662f\u73b0\u5728\u770b\u6765\u4f3c\u4e4e\u8fd9\u4e00\u5047\u8bbe\u5373\u4f7f\u6210\u7acb\u4e5f\u8fd8\u662f\u4e0d\u591f\u7684\uff0c\u56e0\u4e3a\u91d1\u878d\u4e16\u754c\u5982\u6b64\u590d\u6742\uff0c\u4eba\u4eec\u53c2\u4e0e\u5176\u4e2d\u7684\u4e92\u52a8\u4e5f\u53ea\u6709\u5728\u7406\u89e3\u5b83\u7684\u524d\u63d0\u4e0b\u624d\u663e\u5f97\u6709\u610f\u4e49\u3002\u5c31\u597d\u50cf\u60f3\u8981\u901a\u8fc7\u5206\u6790\u4e00\u4e2a\u4e0d\u61c2\u56f4\u68cb\u89c4\u5219\u7684\u4eba\u7684\u4e0b\u68cb\u601d\u8def\u6765\u8d62\u68cb\u662f\u6ca1\u4ec0\u4e48\u610f\u4e49\u7684\u3002\u5728\u8fd9\u91cc\uff0c\u5f8b\u5e08\u548c\u8d22\u52a1\u987e\u95ee\u626e\u6f14\u7684\u5e94\u8be5\u5c31\u662f\u89c4\u5219\u89e3\u91ca\u8005\u7684\u89d2\u8272\u3002\u4f46\u662f\u95ee\u9898\u662f\uff0c\u6211\u4eec\u5e94\u8be5\u628a\u89c4\u5219\u7b80\u5316\u5230\u8ba9\u53c2\u4e0e\u7684\u4eba\u5355\u51ed\u76f4\u89c9\uff08\u5355\u51ed\u201c\u6211\u662f\u7406\u6027\u4eba\u201d\uff09\u5c31\u53ef\u4ee5\u61c2\u5f97\u7684\u7a0b\u5ea6\u5462\uff0c\u8fd8\u662f\u6839\u636e\u9700\u6c42\u628a\u89c4\u5219\u590d\u6742\u5316\uff0c\u800c\u4e14\u591a\u6765\u63a5\u4e2a\u89c4\u5219\u89e3\u91ca\u8005\uff1f<\/p>\n<ul>\n<li><strong>Lobbyists<\/strong><\/li>\n<\/ul>\n<p>\u8bf4\u5ba2\u7684\u4f5c\u7528\uff0c\u4f3c\u4e4e\u53ef\u4ee5\u901a\u8fc7\u5411\u6cd5\u5f8b\u5236\u5b9a\u8005\u6e38\u8bf4\uff0c\u6765\u5bf9\u5f71\u54cd\u5f71\u54cd\u653f\u5e9c\u3002\u4ece\u7406\u8bba\u4e0a\u6765\u8bf4\uff0c\u8bf4\u5ba2\u7684\u5b58\u5728\u662f\u5bf9\u91d1\u878d\u793e\u4f1a\u6709\u5e2e\u52a9\u7684\u3002\u56e0\u4e3a\u4ed6\u4eec\u4ee3\u8868\u4e86\u61c2\u5f97\u5e02\u573a\u548c\u91d1\u878d\u9700\u6c42\u7684\u90a3\u4e00\u65b9\uff0c\u4ed6\u4eec\u7684\u6e38\u8bf4\u5728\u67d0\u79cd\u7a0b\u5ea6\u4e0a\u662f\u5728\u5e2e\u52a9\u653f\u5e9c\u548c\u6cd5\u5f8b\u89c4\u5219\u7684\u5236\u5b9a\u8005\u7406\u89e3\u76f8\u5173\u7684\u4e13\u4e1a\u60c5\u51b5\u3002\u4f46\u662f\u95ee\u9898\u662f\uff0c\u5982\u679c\u8bf4\u8fd9\u4e9b\u8bf4\u5ba2\u5b58\u5728\u7684\u610f\u4e49\u662f\u80fd\u591f\u4f7f\u516c\u5171\u5229\u76ca\u5f97\u5230\u63d0\u5347\uff0c\u4f46\u662f\u4ed6\u4eec\u7684\u65e2\u5f97\u5229\u76ca\u80af\u5b9a\u4e0d\u662f\u4e3a\u4e86\u8fd9\u4e9b\u3002\u6362\u53e5\u8bdd\u8bf4\uff0c\u4ed6\u4eec\u901a\u8fc7\u6e38\u8bf4\u800c\u5f97\u5230\u7684\u4e3a\u4e86\u81ea\u5df1\u6216\u8005\u6240\u4ee3\u8868\u7684\u96c6\u56e2\u7684\u79c1\u5229\uff0c\u80af\u5b9a\u6bd4\u771f\u6b63\u4fc3\u8fdb\u7684\u516c\u5171\u5229\u76ca\u8981\u9ad8\u7684\u591a\u5f97\u591a\u3002<\/p>\n<p>\u63a5\u4e0b\u6765\u7684\u95ee\u9898\u662f\uff0c\u8bf4\u5ba2\u5230\u5e95\u4ee3\u8868\u4e86\u8c01\uff1f\u73b0\u5728\u7edd\u5927\u591a\u6570\u7684\u8bf4\u5ba2\uff0c\u662f\u5728\u4ee3\u8868\u5404\u5927\u91d1\u4e3b\uff0c\u4f46\u662f\u4e5f\u4e0d\u6392\u9664\u6709\u4e00\u4e9b\u662f\u4e3a\u4e86\u793e\u4f1a\u95ee\u9898\uff08\u6bd4\u5982\u540c\u6027\u6743\u5229\u6216\u662f\u5815\u80ce\u6743\u5229\uff09\u3002\u4e0d\u7ba1\u662f\u4ee3\u8868\u7684\u884c\u4e1a\u56e2\u4f53\uff0c\u8fd8\u662f\u793e\u4f1a\u56e2\u4f53\uff0c\u8fd9\u4e9b\u8bf4\u5ba2\u4eec\u90fd\u62ff\u7740\u5f88\u9ad8\u7684\u62a5\u916c\u3002\u4e5f\u5c31\u662f\u8bf4\uff0c\u8bf4\u5ba2\u4eec\u4ee3\u8868\u7684\u662f\u90a3\u4e9b\u6709\u94b1\u4eba\u7684\u5229\u76ca\u3002\u90a3\u4e48\u8bf4\u6765\u4ee3\u8868\u6ca1\u6709\u94b1\u7684\u4eba\u6765\u5411\u653f\u5e9c\u548c\u6cd5\u5f8b\u5236\u5b9a\u8005\u8868\u660e\u81ea\u5df1\u7684\u7acb\u573a\u5462\uff1f\u6700\u63a5\u8fd1\u7a77\u4eba\u7684\u8bf4\u5ba2\uff0c\u90a3\u5c31\u662f\u5de5\u4f1a\u4e86\u3002<\/p>\n<p>\u600e\u6837\u7684\u4eba\u9002\u5408\u505a\u8bf4\u5ba2\uff1f\u4ed6\u4eec\u5411\u653f\u5e9c\u5448\u73b0\u89c2\u70b9\uff0c\u5176\u5b9e\u5c31\u597d\u50cf\u5f8b\u5e08\u4e3a\u5ba2\u6237\u8fa9\u62a4\u4e00\u6837\uff0c\u8c08\u4e0d\u4e0a\u4ec0\u4e48\u9053\u5fb7\u4e0d\u9053\u5fb7\uff0c\u5e76\u4e0d\u662f\u90a3\u79cd\u9053\u5fb7\u89c2\u6bd4\u8f83\u6de1\u8584\u7684\u4eba\u624d\u80fd\u5145\u5f53\u597d\u4e00\u4e2a\u8bf4\u5ba2\u3002\u80fd\u6210\u4e3a\u8bf4\u5ba2\u7684\uff0c\u8981\u4e48\u662f\u5bf9\u516c\u5171\u4e8b\u4e1a\u611f\u5174\u8da3\u540c\u65f6\u53ef\u4ee5\u901a\u8fc7\u8fd9\u4e2a\u8d5a\u5927\u94b1\u7684\uff0c\u8981\u4e48\u662f\u5bf9\u653f\u6cbb\u611f\u5174\u8da3\u5374\u4e0d\u613f\u610f\u627f\u62c5\u505a\u516c\u4ec6\u7684\u727a\u7272\u7684\u3002<\/p>\n<p>\u8bf4\u5230\u8bf4\u5ba2\uff0c\u6211\u8111\u6d77\u91cc\u7b2c\u4e00\u4e2a\u8e66\u51fa\u6765\u7684\u5f62\u8c61\u662f\u300aThank You for Smoking\u300b\u91cc\u7684\u70df\u8349\u534f\u4f1a\u7684\u4ee3\u8a00\u4eba\uff0c\u7b2c\u4e8c\u4e2a\u662f\u300aHouse of Cards\u300b\u91cc\u7684Remy Danton\u3002\u600e\u4e48\u60f3\u600e\u4e48\u90fd\u89c9\u5f97\u662f\u6de1\u5316\u81ea\u5df1\u7684\u4e2a\u4eba\u4fe1\u4ef0\u3001\u6ca1\u6709\u4efb\u4f55\u9053\u5fb7\u5e95\u7ebf\uff0c\u6765\u4e3a\u4ed8\u94b1\u7684\u96c7\u4e3b\u6765\u901a\u8fc7\u5f71\u54cd\u653f\u5e9c\u8fdb\u800c\u64cd\u63a7\u5e02\u573a\u7684\u3002\u4f46\u662f\u4f5c\u8005\u8fd9\u91cc\u628a\u8bf4\u5ba2\u548c\u5f8b\u5e08\u505a\u6a2a\u5411\u5bf9\u6bd4\uff0c\u6211\u4e5f\u89c9\u5f97\u4f3c\u4e4e\u6ca1\u6709\u9519\u3002\u6211\u89c9\u5f97\u8fd9\u91cc\u7684\u5dee\u522b\u5728\u4e8e\uff0c\u88ab\u544a\u4e0e\u539f\u544a\u6216\u8005\u8bc9\u8bbc\u65b9\u7684\u5f8b\u5e08\u5b9e\u529b\u662f\u5747\u8861\u5bf9\u7b49\u7684\uff0c\u800c\u8bf4\u5ba2\u8fd9\u8fb9\u7684\u5f71\u54cd\u662f\u5355\u65b9\u9762\u7684\uff0c\u8fd9\u597d\u50cf\u6709\u70b9\u8bf4\u4e0d\u8fc7\u53bb\u3002<\/p>\n<ul>\n<li><strong>Regulators<\/strong><\/li>\n<\/ul>\n<p>\u76d1\u7ba1\u673a\u6784\u662f\u89c4\u5219\u7684\u5236\u9020\u8005\u3002\u4f46\u662f\u5bf9\u4e8e\u5927\u591a\u6570\u800c\u8a00\uff0c\u4f3c\u4e4e\u6ca1\u6709\u4ec0\u4e48\u5b58\u5728\u611f\u3002\u95ee\u9898\u7684\u5173\u952e\uff0c\u5e76\u4e0d\u5728\u4e8e\u76d1\u7ba1\u7684\u89c4\u5219\u662f\u591a\u662f\u5c11\uff0c\u800c\u5728\u4e8e\u8fd9\u4e9b\u89c4\u5219\u7684\u5236\u8ba2\u662f\u51fa\u4e8e\u8c01\u7684\u5229\u76ca\u3002\u6839\u636e\u4f5c\u8005\u7684\u4eb2\u8eab\u7ecf\u9a8c\uff0c\u4ed6\u53d1\u89c9\u8fd9\u4e9b\u5728\u76d1\u7ba1\u673a\u6784\u91cc\u5de5\u4f5c\u7684\u4eba\uff0c\u5176\u5b9e\u6ca1\u6709\u5927\u5bb6\u60f3\u8c61\u4e2d\u7684\u90a3\u4e48\u65e0\u80fd\u3002<\/p>\n<ul>\n<li><strong>Accountants and Auditors<\/strong><\/li>\n<\/ul>\n<p>\u4f1a\u8ba1\u662f\u4ece\u8d22\u52a1\u7684\u89d2\u5ea6\u6765\u8bb0\u5f55\u4e00\u5bb6\u4f01\u4e1a\uff0c\u5ba1\u8ba1\u5219\u662f\u6765\u8bc4\u4f30\u548c\u89e3\u91ca\u4f1a\u8ba1\u7684\u5de5\u4f5c\u3002\u4f1a\u8ba1\u548c\u5ba1\u8ba1\u627f\u62c5\u7740\u7ef4\u62a4\u8d22\u52a1\u7ed3\u6784\u5b8c\u6574\u6b63\u76f4\u7684\u8d23\u4efb\u3002\u5982\u679c\u8bf4CEO\u662f\u4eba\u8111\u4e2d\u7684\u4e2d\u67a2\u795e\u7ecf\u7684\u8bdd\uff0c\u90a3\u4e48\u4f1a\u8ba1\u5c31\u662f\u6d77\u9a6c\u4f53\uff0c\u628a\u77ed\u671f\u8bb0\u5fc6\u8f6c\u5316\u6210\u957f\u671f\u8bb0\u5fc6\u3001\u8fde\u63a5\u5404\u4e2a\u8bb0\u5fc6\u3002\u4f1a\u8ba1\u5f80\u5f80\u5e94\u8be5\u7ad9\u5728\u7a0d\u8fdc\u7684\u5730\u65b9\uff0c\u4e0d\u80fd\u88abCEO\u64cd\u63a7\u3002<\/p>\n<ul>\n<li><strong>Educators<\/strong><\/li>\n<\/ul>\n<p>\u8d22\u52a1\u77e5\u8bc6\u9886\u57df\u7684\u6559\u80b2\u8005\uff0c\u627f\u8f7d\u7740\u76f8\u5f53\u5fae\u5999\u7684\u4f5c\u7528\u3002\u4f5c\u8005\u8ba4\u4e3a\uff0c\u8fd1\u5e74\u6765\u6709\u6548\u5e02\u573a\u7684\u7406\u8bba\u5bf9\u4e8e\u5b66\u751f\u6765\u8bf4\u6709\u70b9\u8fc7\u5ea6\u6559\u80b2\u4e86\u3002\u56e0\u4e3a\u5bf9\u6709\u6548\u5e02\u573a\u7684\u575a\u5b9a\u4e0d\u79fb\u7684\u8ba4\u8bc6\uff0c\u5f88\u591a\u4eba\u4ee5\u4e3a\u4e0d\u7ba1\u662f\u5426\u662f\u6709\u9053\u5fb7\u5730\u884c\u4e8b\uff0c\u90fd\u4e0d\u4f1a\u5f71\u54cd\u5e02\u573a\uff0c\u56e0\u4e3a\u6709\u6548\u5e02\u573a\u7ec8\u7a76\u662f\u5e73\u8861\u7684\u3002\u56e0\u6b64\u4e5f\u5c31\u5e2e\u52a9\u9020\u5c31\u4e86\u5f88\u591a\u6ce1\u6cab\u3002<\/p>\n<ul>\n<li><strong>Public Goods Financiers<\/strong><\/li>\n<\/ul>\n<p>\u516c\u5171\u4e8b\u52a1\u4e0e\u79c1\u6709\u4f01\u4e1a\u6700\u5927\u7684\u4e0d\u540c\uff0c\u5c31\u662f\u516c\u5171\u4e8b\u52a1\u5e76\u4e0d\u7531\u81ea\u7531\u5e02\u573a\u6240\u652f\u6491\uff0c\u5b83\u662f\u5c3e\u6240\u6709\u5927\u4f17\u670d\u52a1\u7684\uff0c\u540c\u65f6\u5b83\u662f\u653f\u5e9c\u5b58\u5728\u7684\u6700\u4e3b\u8981\u7684\u7406\u7531\u3002\u4f46\u662f\u516c\u5171\u4e8b\u52a1\u7684\u5f71\u54cd\u548c\u7ed3\u679c\uff0c\u5374\u5f88\u96be\u88ab\u770b\u89c1\u3001\u4e5f\u5f88\u96be\u88ab\u7406\u89e3\u3002\u5982\u679c\u662f\u8fd9\u6837\u7684\u8bdd\uff0c\u90a3\u4e9b\u4e3a\u653f\u5ba2\u6295\u7968\u7684\u4eba\uff0c\u662f\u5728\u8861\u91cf\u7740\u4ec0\u4e48\u624d\u51b3\u5b9a\u9009\u62e9\u7684\u5462\uff1f\u5c31\u516c\u5171\u4e8b\u52a1\u7684\u53d1\u5c55\uff0c\u6bd4\u5982\u5173\u952e\u7684\u70b9\u5b50\u672a\u5fc5\u662f\u653f\u5e9c\u60f3\u51fa\u6765\u7684\uff0c\u6216\u8005\u653f\u5e9c\u53ef\u4ee5\u53bb\u8d44\u52a9\u67d0\u4e9b\u7ec4\u7ec7\u800c\u4e0d\u662f\u7b80\u5355\u5730\u96c7\u4f63\u516c\u52a1\u5458\u6765\u5904\u7406\u516c\u5171\u4e8b\u52a1\u3002<\/p>\n<ul>\n<li><strong>Policy Makers in Charge of Stabilizing the Economy<\/strong><\/li>\n<\/ul>\n<p>\u653f\u7b56\u5236\u5b9a\u8005\u7684\u8d23\u4efb\u662f\u5236\u5b9a\u653f\u7b56\uff0c\u6765\u5bf9\u6297\u4e0d\u7a33\u5b9a\u56e0\u7d20\u3001\u51cf\u5c0f\u4e0d\u7a33\u5b9a\u5e26\u6765\u7684\u5f71\u54cd\u3002\u4f46\u662f\u95ee\u9898\u662f\uff0c\u4e8b\u60c5\u7684\u7f18\u7531\u662f\u5f88\u590d\u6742\u7684\uff0c\u662f\u591a\u56e0\u7d20\u7684\u3002\u53bb\u5206\u6790\u5b83\uff0f\u9884\u6d4b\u5b83\uff0c\u5f80\u5f80\u4e0d\u4ec5\u4ec5\u662f\u6570\u5b66\u5c42\u9762\u7684\uff0c\u800c\u4e14\u662f\u9700\u8981\u4eba\u4e3a\u7684\u5224\u65ad\u7684\uff08\u5176\u4e2d\u5305\u62ec\u5bf9\u653f\u6cbb\u6c14\u5019\u3001\u793e\u4f1a\u6c1b\u56f4\u7684\u5224\u65ad\uff09\u3002<\/p>\n<p>\u6211\u4eec\u65e0\u6cd5\u5b8c\u5168\u907f\u514d\u5927\u578b\u7684\u53d8\u8fc1\uff0c\u4f46\u662f\u81f3\u5c11\u6211\u4eec\u53ef\u4ee5\u8bbe\u7acb\u4e00\u4e9b\u91d1\u878d\u4ea7\u54c1\u6765\u81ea\u52a8\u7a33\u5b9a\u3002\u6bd4\u5982\u8bf4\u5931\u4e1a\u4fdd\u9669\u3001\u5206\u9636\u6240\u5f97\u7a0e\uff0c\u518d\u6bd4\u5982\u653f\u5e9c\u53d1\u884c\u57fa\u4e8e\u81ea\u5df1\u56fd\u5bb6GDP\u7684\u80a1\u6743\u3002<\/p>\n<ul>\n<li><strong>Trustees and Nonprofit Managers<\/strong><\/li>\n<\/ul>\n<p>\u4fe1\u6258\u548c\u975e\u8425\u5229\u7ba1\u7406\u8005\u548c\u522b\u7684\u7ec4\u7ec7\u6700\u5927\u7684\u4e0d\u540c\u662f\u5b83\u4eec\u7684\u8bc9\u6c42\uff0c\u56e0\u4e3a\u5b83\u4eec\u7684\u8bc9\u6c42\u5f80\u5f80\u662f\u66f4\u9ad8\u5c42\u9762\u3002\u4fe1\u6258\u7684\u7279\u70b9\u5728\u4e8e\u5b83\u7684\u957f\u4e45\u6027\uff0c\u5b83\u7684\u5efa\u7acb\u672c\u8eab\u5c31\u662f\u4e3a\u4e86\u53ef\u80fd\u662f\u5efa\u7acb\u8005\u751f\u547d\u957f\u5ea6\u4e4b\u5916\u7684\u4f5c\u7528\u3002\u975e\u8425\u5229\uff0c\u5e76\u4e0d\u662f\u6307\u4e0d\u8d5a\u94b1\uff0c\u53ea\u662f\u6307\u4e0d\u5411\u80a1\u4e1c\u53d1\u653e\u7ea2\u5229\uff0c\u5b83\u4eec\u7684\u76ee\u6807\u5c31\u4e0d\u5728\u4e8e\u5bfb\u6c42\u6700\u5927\u7684\u6295\u8d44\u56de\u62a5\uff0c\u800c\u5728\u4e8e\u8ffd\u6c42\u67d0\u79cd\u76ee\u6807\u3002<\/p>\n<ul>\n<li><strong>Philanthropists<\/strong><\/li>\n<\/ul>\n<p>\u300a\u5c0f\u738b\u5b50\u300b\u91cc\u9762\u5c0f\u738b\u5b50\u95ee\u5546\u4eba\uff1a\u201c\u62e5\u6709\u661f\u661f\u6709\u4ec0\u4e48\u597d\u7684\uff1f\u201d\u5546\u4eba\u8bf4\uff1a\u201c\u8fd9\u80fd\u8ba9\u6211\u53d8\u5f97\u5bcc\u6709\uff0c\u5c31\u53ef\u4ee5\u4e70\u66f4\u591a\u661f\u661f\u3002\u201d\u8fd9\u662f\u8fde\u5c0f\u5b69\u52a8\u80fd\u8bfb\u61c2\u7684\u9053\u7406\uff1a\u62e5\u6709\u4e1c\u897f\u672c\u8eab\u6ca1\u6709\u4efb\u4f55\u610f\u4e49\u3002\u5bf9\u4e8e\u4e00\u4e2a\u6709\u94b1\u4eba\u6765\u8bf4\u66f4\u662f\u5982\u6b64\uff0c\u6240\u8c13\u7684\u6148\u5584\u5bb6\u5c31\u662f\u8d5a\u94b1\u6765\u53d1\u6d3e\u7ed9\u522b\u4eba\u4ee5\u652f\u6301\u4ed6\u4eec\u8ffd\u6c42\u7279\u5b9a\u7f18\u7531\u7684\u3002\u6709\u4e00\u79cd\u89c2\u70b9\u8bf4\uff0c\u90a3\u4e9b\u5728\u5546\u754c\u6210\u529f\u7684\u4eba\uff0c\u672a\u5fc5\u662f\u56e0\u4e3a\u4ed6\u4eec\u6bd4\u666e\u901a\u4eba\u8981\u591a\u806a\u660e\u591a\u5c11\uff0c\u800c\u4ec5\u4ec5\u662f\u56e0\u4e3a\u4ed6\u4eec\u6b63\u597d\u62e5\u6709\u80fd\u4f7f\u5f97\u4ed6\u4eec\u5728\u5546\u573a\u4e0a\u8d5a\u5230\u94b1\u7684\u90a3\u4e9b\u624d\u80fd\u3002\u4ed6\u4eec\u5728\u8d5a\u5230\u4e86\u8db3\u591f\u591a\u7684\u94b1\u4ee5\u540e\uff0c\u8fd8\u662f\u60f3\u8981\u7528\u8fd9\u4e9b\u94b1\u53bb\u505a\u4e00\u4e9b\u522b\u7684\u4e8b\u60c5\u7684\u3002<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Finance and the Good Society Robert J. Shiller B00C791JJI \u524d\u4e0d\u4e45\u6211\u7b2c\u4e00\u6b21\u5b8c\u6574\u5730\u8ddf\u770b\u5b8ccoursera\u7684\u4e00\u4e2a\u8bfe\u7a0b\uff0c\u5c31\u662f\u8036\u9c81\u5927\u5b66\u5f00\u8bbe\u7684\u300aFinancial Markets\u300b\u3002\u603b\u7684\u6765\u8bf4\uff0c\u8fd9\u95e8\u8bfe\u7a0b\u662f\u76f8\u5f53\u7d27\u7f29\u548c\u9ad8\u5ea6\u6d53\u7f29\u7684\uff0c\u5b83\u770b\u95ee\u9898\u7684\u89d2\u5ea6\u76f8\u5bf9\u6bd4\u8f83\u5b8f\u89c2\u3002\u5176\u4e2d\u6bd4\u8f83\u8ba9\u6211\u611f\u5174\u8da3\u7684\u5730\u65b9\u662f\u8bb2\u5230behavioral finance\uff0c\u6240\u8c13\u7684\u7ecf\u6d4e\u793e\u4f1a\u6211\u4eec\u7ecf\u5e38\u7528\u5404\u79cd\u6570\u5b66\u6a21\u578b\u6765\u9610\u8ff0\uff0c\u4f46\u662f\u5728\u5b9e\u9645\u751f\u6d3b\u4e2d\u5f80\u5f80\u5f88\u4e0d\u4e00\u6837\u3002\u53ef\u60dc\u5728\u8fd9\u95e8\u8bfe\u7a0b\u91cc\u771f\u6b63\u8bb2\u5230behavioral finance\u7684\u5730\u65b9\u4e0d\u591a\u3002\u7136\u540e\u6211\u53d1\u89c9\u539f\u6765\u8fd9\u95e8\u8bfe\u7684\u4e3b\u8bb2\u8001\u5e08Robert J. Shiller\u662f\u53bb\u5e74\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5956\u7684\u5f97\u4e3b\uff0c\u53bb\u5e74\u7684\u8bfa\u8d1d\u5c14\u7ecf\u6d4e\u5956\u7531\u8fd9\u4f4dRobert J. Shiller\u548c\u53e6\u5916\u4e24\u4f4dEugene Fama\u3001Lars Peter Hansen\u5206\u4eab\u7684\uff0c\u8bc4\u8bed\u662f\u201cfor their empirical analysis of asset prices\u201d\u3002\u6709\u610f\u601d\u7684\u662f\u53e6\u4e24\u4f4d\u662f\u5f88\u660e\u663e\u57fa\u4e8e\u6570\u5b66\u6a21\u578b\u7684\uff08\u6570\u5b66\u6a21\u578b\u7684\u4e00\u5927\u5047\u8bbe\u662f\u6709\u6548\u5e02\u573a\uff09\uff0c\u800c\u8fd9\u4f4dRobert J. Shiller\u5219\u662f\u4ece\u5b8c\u5168\u4e0d\u540c\u7684\u89d2\u5ea6\u51fa\u53d1\u3002\u6240\u8c13\u7684\u884c\u4e3a\u7ecf\u6d4e\u5b66\uff0c\u51e0\u4e4e\u662f\u5fc3\u7406\u5b66\u3001\u793e\u4f1a\u5b66\u65b9\u9762\u7684\u51fa\u53d1\u70b9\u4e86\uff0c\u611f\u89c9\u4f3c\u4e4e\u662f\u6709\u6548\u5e02\u573a\u7684\u7eaf\u5bf9\u7acb\u9762\u7684\u4e86\u3002\u4e8e\u662f\u6211\u53bb\u8bfb\u4e86\u4f5c\u4e3a\u63a8\u8350\u6559\u6750\u4e4b\u4e00\u7684Robert J. Shiller\u7684\u4e00\u672c\u4e66\u300aFinance and the Good Society\u300b\uff0c\u6709\u4e2d\u6587\u7ffb\u8bd1\u7248\u672c\u53eb\u505a\u300a\u91d1\u878d\u4e0e\u597d\u7684\u793e\u4f1a\u300b\u3002 \u8fd9\u662f\u7b2c\u4e00\u672c\u6211\u770b\u5e8f\u80fd\u770b\u5230\u5982\u6b64\u71c3\u7684\u4e00\u672c\u4e66\uff01\u201c\u597d\u793e\u4f1a\u201d\u611f\u89c9\u662f\u90a3\u4e48\u9065\u8fdc\u7684\u4e00\u4e2a\u8bcd\u6c47\uff0c\u597d\u50cf\u662f\u53e4\u5e0c\u814a\u54f2\u5b66\u5bb6\u4eec\u5728\u601d\u8003\u7684\u95ee\u9898\uff0c\u4f46\u662f\u5176\u5b9e\u5728\u6211\u4eec\u5f53\u4eca\u7684\u793e\u4f1a\uff0c\u8fd9\u4e00\u6982\u5ff5\u4f9d\u7136\u91cd\u8981\u3002\u90a3\u4e48\u91d1\u878d\u548c\u597d\u793e\u4f1a\u53c8\u80fd\u626f\u4e0a\u4ec0\u4e48\u5173\u7cfb\u5462\uff1f\u4ece\u9a6c\u514b\u601d\u5bf9\u8d44\u672c\u4e3b\u4e49\u7684\u6279\u8bc4\u8bf4\u8d77\uff0c\u9a6c\u514b\u601d\u8bf4\u8d44\u672c\u4e3b\u4e49\u793e\u4f1a\u7531\u8d44\u672c\u5bb6\u4eec\u63a7\u5236\u7740\uff0c\u7a77\u4eba\u6c38\u8fdc\u4e0d\u53ef\u80fd\u7ffb\u8eab\u3002\u4f46\u662f\u5982\u679c\u4ed4\u7ec6\u60f3\u4e00\u60f3\uff0c\u8fd9\u662f\u8d44\u672c\u4e3b\u4e49\u7684\u95ee\u9898\u5417\uff1f\u8fd9\u5176\u5b9e\u662f\u6c11\u4e3b\u5316\uff08democratising\uff09\u548c\u4eba\u6027\u5316\uff08humanising\uff09\u7684\u95ee\u9898\uff0c\u6240\u8c13\u7684democratisation of finance\u662f\u6307application of financial technology for everyone\uff1b\u6240\u8c13\u7684humanisation of finance\u662f\u6307taking account of human nature in financial plans and design of financial [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[459],"class_list":["post-1783","post","type-post","status-publish","format-standard","hentry","category-yesha","tag-robert-j-shiller"],"_links":{"self":[{"href":"https:\/\/yanntardis.com\/index.php?rest_route=\/wp\/v2\/posts\/1783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yanntardis.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yanntardis.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yanntardis.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yanntardis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1783"}],"version-history":[{"count":0,"href":"https:\/\/yanntardis.com\/index.php?rest_route=\/wp\/v2\/posts\/1783\/revisions"}],"wp:attachment":[{"href":"https:\/\/yanntardis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yanntardis.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yanntardis.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}