Process in a Systematic Perspective: Taking Stock Index Futures as an Example

摘要：

The classical theories of financial innovation analyze financial innovation using supply and demand analysis in industrial organization theory, and usually focus on the motivation of financial innovation, but pay little attention on its diffusion, therefore cant completely describe the rules. This paper thinks of financial innovation as a process by defining the concept of financial innovation process, and describes it in the language of system theory;Then analyzes its systematic topography, i.e. elements, structure, environment, behavior, function, etc. Finally, the example of stock index futures is given for further analysis of financial innovation process. Studies have suggested that system environment is restricting the progress direction of system structure under the choices of innovation subjects, and that a successful financial innovation process is a self-organized process in which financial innovation system and its environment harmoniously coexist.

关键词： Financial innovation process system environment stock index futures.

作者: Wuwei Li Shuzhen Zhu

作者单位: Institute of Sector Economics Shanghai Academy of Social Sciences Shanghai, China Business and Management Department Donghua University Shanghai, China

会议类型: 国际会议

会议名称: 2007 Conference on Systems Science, Management Science and System Dynamics(第二届系统科学、管理科学与系统动力学国际会议)

会议地点: 上海

会议语种:英文

页码: 1201-1210

在线出版日期: 2007-10-19（万方平台首次上网日期，不代表论文的发表时间）