| BACKGROUNDUnder the modern market economy, to make full of use of stock market's function, include financing, market price, risk sharing, and optimize the allocation of resources, we need to keep on polishing stock market laws, rules, regulations and norms in order to guarantee its effective market mechanism and a reasonable market structure, on the other hand, we also need the market participants to improve their own professional qualities constantly in their respective areas. These professional qualities is not only include traditional investment professional skills, and in the background of modern market economy, market players are on the increase in number and kinds, the stock market participants are more required in its own moral quality. From the standpoint of ethics, the requirement means market participants have to tie with the ethics and moral concept and functions when they consolidate and adjust the relationship between the various interests.Institutional investors are important part of the stock market in this modern market economy, they play an important function. But in recent years, as institutional investors gradually increased, to a certain degree, their normative behavior has hold up the implementation of the stock market functions. In the special economic environment of stock market, the institutional investor's normative acts also demonstrated its economy, which are the financial conflicts when they aim to make a profit. The research is based on this conflict and then research for the integration of finance and ethics from a ethics perspective, lastly, make a discussion about institutional investors behavior within the ethics categories.PURPOSEOne of the purposes of this paper is aims to find the correspondence of financial ethical, moral climate and ethics conflict through theoretical research. And then choose institutional investors in stock market as object to analysis. The second purpose of this paper is to design a effective questionnaire which can be can be used for measuring institutional investors'financial ethics, moral climate and financial ethics conflict in china. Only to know the true status, can we be further analysis and summary to make improvement. The third purpose of this investigation is to make a preliminary to research relevant relation between institutional investors'financial ethics climate and financial ethics conflict by using the data of investigation.MAIN CONTENT AND VIEWThe main content of the thesis contains following parts:Chapter one is introduction, which tells four issues. The first issue tells the background and significance of the paper. The second one tells the technical line and the main content. The third one tells the research methodology. The last issue tells the contribution and shortcomings of the article. The main purpose of this chapter is to enable the reader to the thesis writing background and the overall framework.Chapter two is literature review. We analysis and summarize the domestic and foreign literature from four angles, they are institutions investors financial act, financial ethics, ethical climate, and financial ethics conflict.Chapter three is the theoretical analysis, which tells four issues. The first part of this chapter is to make a definition of institutional investors and the conception of institutions investor financial ethics climate and then do a classification of it. The second part aims at define the conception of institutions investor financial ethics conflict and then discussed that how institutions investors'financial conflict formed. The third part of this chapter discussed the relationship between institutions investor financial ethics climate and institutions investors'financial conflict in theory. The forth part is an summarization of this chapter, it briefly introduced the train of thought of this chapter.Chapter four is empirical research which is based on the preamble questionnaire research. It is consist of five parts. First part is research hypothesis. The second part of this chapter detailed introduced the design process of the questionnaire for institutions investors'financial ethics climate and financial ethics conflict. The third part for the chapter describes the empirical research process, including the descriptive statistical analysis and regression. The forth part is the summarization for above empirical research, we find out that in order to increase the stock market institutions investors'financial ethics climate, we must reduce the egoism financial ethics climate, and actively develop the legal and moral system ethics climate. The last part is the summarization for the content of this chapter, which makes the content of this chapter clearer and more distinct.According to the above mentioned theory and practical, chapter five is concentrated on enhancing the level of institutional investors' financial standards of behavior in China. The author makes the proposal from four aspects. The first one is strengthen the institutional investors to analyze theory about financial standards of behavior condition. The second point is pursue the strategy of cultivate financial standards of behavior environment. The third aspect is set up the measurement system with regard to financial standards of behavior. Lastly we have to enhance controls on financial standards of behavior system constructed and situation supervision.CONTRIBUTIONSThe main contribution of this paper is in the following two aspects. Firstly, for the first time this paper applies the concept of financial ethics climate and moral of conflict on the institutional investors in the stock market. And then analysis the relationship between financial ethics climate and financial ethics conflict of institutional investors. Then put forward that the institutional investors' financial ethics climate directly make an impact to its financial ethics conflict. Secondly, this paper aims at design a pointed questionnaire to survey the institutional investors'financial ethics climate and its financial ethics conflict, so it has provided an example of ways for further studies. |
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