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  • GII THIU KHI QUT V TH TRNG TI CHNHChng mt

  • MC TIUHiu bit c h thng v cc loi th trng trong nn kinh t th trng.Phn bit c ti sn ti chnh so vi nhng loi ti sn khc.Hiu qua khi nim cn bn v phn bit c cc loi th trng.Hiu r khi nim v phn bit cc loi hng ha c giao dch trn th trng ti chnh

  • 1.1. Cc loi th trngC nhiu loi th trng trong nn kinh t ca 1 quc gia, nhng nhn chung gm c 3 loi th trng c bn:Th trng cc yu t sn xutTh trng sn phmTh trng ti chnh

  • Qu trnh SX ca doanh nghip

  • What is the market? S khc nhau gia hng ha v dch v?

  • Quan h gia cc th trng

  • Ti chnh l g? Ti chnh l tin? Tin l ti chnh? Ti chnh gm:

  • 1.2. TI SN TI CHNH Khi nim:Ti sn l bt c vt s hu no m c gi tr trong trao i.TS hu hnh: l nhng ti sn m gi tr ca n ph thuc vo nhng c tnh t nhin ca n: nh xng, t ai, my mc thit bTS v hnh l nhng ti sn m gi tr ca n khng lin quan g n nhng c tnh t nhin ca n.

  • TSTC l mt dng ca ti sn v hnh.Ti sn ti chnh gm:Tn phiu kho bcTri phiu cng tyTri phiu chnh phC phiu thngC phiu u iS tin gi tit kimHp ng quyn chn

  • 1.3. H thng ti chnhN V THIU HT VN

  • 1.4. Financial Market:Khi nim:Th trng ti chnh l th trng m din ra cc hot ng mua bn cc loi giy t c gi hay cc loi vn ngn hn, trung hn v di hn.Thng qua th trng ti chnh hnh thnh gi mua gi bn cc loi c phiu, tri phiu, *Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Th trng ti chnh hot ng hu hiu nh cc ti chnh trung gian (cc cng ty chng khon, cc qu u t, ngn hng)i tng tham gia th trng ti chnh l nhng ngun cung v cu v vn trong x hi ca cc ch th kinh t nh nh nc, doanh nghip, gia nh *Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Ch th tham gia trn th trng ti chnh:l nhng php nhn hay th nhn i din cho nhng ngun cung cu v vn tham gia trn th trng ti chnh, ch yu l cc ngn hng thng mi, cng ty ti chnh, cng ty u t, cng ty bo him, cc qu tn dng. *Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)The nature of financial markets :The relationship between investment and saving;The process of exchange of capital;

    *Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Mt quc gia mun tng trng v pht trin bn vng phi p ng c nhu cu vn. Mun vn u t ln phi gia tng tit kim. ng thi, tng trng kinh t cao s to iu kin tng tit kim v tng kh nng cung ng vn u t.*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Trong nn kinh t, nhu cu v vn u t v cc ngun tit kim c th pht sinh t nhiu ch th khc nhau. Nhng ngi c c hi u t th thiu vn, nhng ngi c vn nhn ri li khng c vn u t. H gp nhau tha mn nhu cu ca nhau.*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Roles of financial markets:Tp trung cc khon tit kim thnh ngun vn ln; Kch thch tit kim v u t;Hnh thnh gi c cc loi ti sn ti chnh;To tnh thanh khon cho ti sn ti chnh.*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Phn loi th trng ti chnh :Cn c vo thi hn lun chuyn vn;Cn c vo tnh cht chuyn mn ha ca th trng;Cn c vo c cu cc th trng.*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Th trng tin t (Money Market)Th trng lin ngn hng (Interbank Market)Th trng vn ngn hn (Shorterm Market)Th trng hi oi (Foreign Exchange Market)Th trng vn (Capital Market)Th trng th chp (Mortgage Market)Th trng cho thu ti chnh (Leasing Market)Th trng chng khon (Stock Market)*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)*Financial Market_Chapter 1_Overview of Financial Market*Ngi cho thuNgi i thuNgi cung cp1B2A2C1A2D31C2B1A: Hp ng thu ti chnh1B: Hp ng mua ti sn1C: Hp ng bo tr, bo hnh, sa cha2A: Giao quyn s hu ti sn2B: Chuyn giao ti sn2C: Tr tin mua ti sn2D: Giao quyn s dng3: nh k tr tin thu

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Cho thu ti chnh mang y bn cht ca tn dng trung v di hn nh:Tnh hon tr;Tnh thi hn;Li sut.*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • Cn c vo tnh cht chuyn mn ha ca th trng.Th trng cng c nNgn hn;Trung hn;Di hn.Th trng cng c vnTh trng cng c phi sinh:Chng quyn;Quyn chn;Hp ng tng lai.*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • Cn c vo c cu th trngTh trng s cp (Primary Markets)L th trng mua bn cc chng khon mi pht hnh ln u. Trn th trng ny vn t nh u s c chuyn sang nh pht hnh thng qua vic nh u t mua cc chng khon mi pht hnh.*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Vai tr ca th trng s cp:Chng khon ha ngun vn cn huy ng thng qua vic pht hnh chng khon.Thc hin qu trnh chu chuyn ti chnh trc tip a cc khon tin nhn ri vo u t.*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)c im ca th trng s cp:L th trng khng lin tc v l ni duy nht m cc chng khon mang li ngun vn cho ngi pht hnh.Nhng ngi bn trn TTSC thng l kho bc NHNN, Cty pht hnh, Cty bo lnh pht hnh.Gi CK trn TTSC do t chc pht hnh quyt nh v in ngay trn CK.*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Th trng th cp (Secondary Markets)L ni giao dch cc chng khon c pht hnh trn TTSC. TTTC m bo tnh thanh khon cho cc CK pht hnh.

    *Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Vai tr ca TT th cp:Cung cp th trng, to iu kin d dng mua bn nhng cng c trn th trng SC.Xc nh gi ca cc loi chng khon thng qua cung cu.*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)c im ca TT th cp:Khon tin thu c t vic bn CK thuc v cc nh u t, cc nh kinh doanh CK.Gi CK do cung cu quyt nh.L th trng hot ng lin tc, cc nh u t c th mua bn nhiu ln trn TTTC.*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)V tr ca th trng ti chnh: Trong mi quan h tng quan vi cc th trng khc, th trng ti chnh c v tr l th trng khi im cho cc loi th trng, n c tc dng chi phi iu hnh v xm nhp vo cc loi th trng khc. *Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Vai tr ca th trng ti chnh: Th trng ti chnh l ni to ra mi trng thun li dung ho cc li ch kinh t khc nhau ca cc thnh vin khc nhau trn th trng.Th trng ti chnh nng cao nng sut v hiu qu hot ng kinh doanh, sn xut ca nn kinh t. *Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Th trng ti chnh to ra c hi u t v em li li ch cho mi thnh vin trong x hi.

    *Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.4. Financial Market (cont.)Cc cng c ti chnh:Cc cng c ca th trng tin t: Thng phiu, Tn phiu kho bc, chng ch tin gi ngn hngCc cng c ca th trng vn: Tri phiu, c phiu, cc cng c ti chnh phi phi sinh

    *Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • Cc t chc ti chnhCc T chc ti chnh (Financial Institutions)- Cc t chc ti chnh nhn tin gi: Ngn hng thng mi, qu tn dng- Cc t chc tit kim theo hp ng: Cng ty bo him (nhn th v phi nhn th), Qu hu tr (pension funds)- Cc t chc u t: Cng ty ti chnh, Qu u t, Ngn hng u t*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.5. Money MarketKhi nim:Th trng tin t l th trng mua bn cc giy t c gi tr ngn hn, c k hn di mt nm. Hiu theo ngha gin n, th trng tin t l th trng vay v cho vay vn ngn hn cho nn kinh t.*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.5. Money Market (cont.)Phn loi:Nu cn c vo c cu t chc, th trng tin t c chia thnh hai cp l th trng tin t s cp v th trng tin t th cp.

    *Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.5. Money Market (cont.)Vai tr ca th trng tin t:Th trng tin t iu tit cung cu v vn ngn hn, th trng tin t gi vai tr rt quan trng trong vic h tr hot ng cc doanh nghip trong nn kinh t c bit l cc ngn hng, b sung kp thi nhu cu vn cng nh iu ho cc ngun vn tin t t ni tha n ni thiu vn.*Financial Market_Chapter 1_Overview of Financial Market*

    Financial Market_Chapter 1_Overview of Financial Market

  • 1.5. Money Market (cont.)Cc cng c tham gia th trng tin t:Trn th trng tin t c cc loi tri phiu kh