金融市场与机构PPT，分5卷，

为什么学习金融市场与机构 Why study Financial Markets and Institutions?
它们是财务管理人员所营运的所有金融体系的基础They are the cornerstones of the overall financial system in which financial managers operate
个人利用他们投资Individuals use both for investing
公司和政府利用他们融资Corporations and governments use both for financing
金融市场概况 Overview of Financial Markets
一级市场与二级市场Primary Markets versus Secondary Markets
货币市场与资本市场Money Markets versus Capital Markets
外汇市场Foreign Exchange Markets
一级市场与二级市场 Primary Markets versus Secondary Markets
一级市场Primary Markets
资金使用者(公司,政府)通过发行金融工具(股票,债券等)筹集资金的市场markets in which users of funds (e.g. corporations, governments) raise funds by issuing financial instruments (e.g. stocks and bonds)
二级市场Secondary Markets
金融工具进行交易的市场markets where financial instruments are traded among investors (e.g. NYSE, NASDAQ)
货币市场与资本市场 Money Markets versus Capital Markets
货币市场Money Markets
交易年限低于一年的债券(存单,国债等)的市场markets that trade debt securities with maturities of one year or less (e.g. CD’s,  U.S. Treasury bills)
资本市场Capital Markets
交易年限一年以上的债券和股票的市场markets that trade debt (bonds) and equity (stock) instruments with maturities of more than one year
区别的重要性
短期货币市场融资的流动性高,风险低,回报低
长期资本市场融资的流动性低,风险高,回报高