The Research On The Comparison Of The BRICS Nations’ Stock Market Growth

The capital is the power and the source of the development of financial markets,and the stock market is the most important part.of it. The boom of the stock market isbased on the continued stability of a certain country’s capital market.This paper drawson the management method to discuss the concepts of "Core competitiveness ofenterprises". Innovatively propose the concept to establish the core research indicatorsof the nation’s stock market growth, which is based on the "BRICS" on behalf of theemerging countries with rapid progress in economic development, to study thecomparison about the growth of stock markets among the BRICS nations. In2001,famous investment bank economists regarded the four countries, China, India, Russiaand Brazil as the representatives of the emerging countries with rapid development,and its overall presence is in the form of ‘BRIC’. In2011, South Africa as abroadening membership of the four countries, also officially became one of theBRICS nations."BRIC" became a comprehensive "BRICS nations". Since the totaleconomic output of the BRICS nations is growing rapidly and directly affects theUnited States and other developed countries, there is a very important practicalsignificance to study the BRICS nations. This paper is based on consideration growthof the stock market index, combines of the advantages of the BRICS respectivedevelopment, regards the stock market tools, stock market financing efficiency, theeffectiveness of the stock market and the stock market regulatory as the coreindicators of the research on BRICS nations’ stock market growth.This paper is divided into six chapters. It begins with a general description of theBRICS nations. Based on this, analyze and summarize the literature on study of thestock market growth indicators, and reflects on the inadequacies of these literatures.Then regarding the market instruments and scale of the BRICS nations’ stock marketsas the background, this paper discusses the BRICS nations’ stock market financingefficiency based on building the market financing efficiency DEA models, studies theeffectiveness of the stock market of the BRICS nations based on the establishment of market effectiveness ARCH models, and discusses the BRICS nations’ stock marketregulatory efficiency based on comparative analysis. In the end, after summarizing thefour findings, this paper makes policy recommendations to improve the growth ofChina’s stock market.