| 中文摘要 | 第5-13页 |
| ABSTRACT | 第13页 |
| Ⅰ. INTRODUCTION | 第14-21页 |
| 1 RESEARCH BACKGROUND | 第14-17页 |
| 2 RESEARCH SIGNIFICANCE | 第17-21页 |
| 2.1 Theoretical Significance | 第17-19页 |
| 2.2 Practical Significance | 第19-21页 |
| Ⅱ. RESEARCH DEVELOPMENT | 第21-33页 |
| 1. BASIC THEORIES | 第21-24页 |
| 2. THE DEVELOPMENT OF EMPIRICAL RESEARCHES | 第24-33页 |
| 2.1 Research development in western countries | 第25-29页 |
| 2.2 Research development in China | 第29-33页 |
| Ⅲ. THE INSTITUTIONAL INVESTORS IN CHINAAND IN US | 第33-57页 |
| 1. THE DEFINITION OF THE INSTITUTIONAL INVESTORS | 第33-35页 |
| 2. THE FEATURES OF INSTITUTIONAL INVESTORS | 第35-36页 |
| 3. THE OVERALL SITUATION OF INSTITUTIONAL INVESTORS IN CHINA | 第36-49页 |
| 3.1 Securities companies | 第37-38页 |
| 3.2 Securities investment funds | 第38-41页 |
| 3.3 Social Security Fund | 第41-44页 |
| 3.4 Insurance Companies | 第44-45页 |
| 3.5 Qualified Foreign Institutional Investors(QFII) | 第45-49页 |
| 4. THE COMPARISON OF INSTITUTIONAL INVESTORS IN CHINAAND IN US | 第49-57页 |
| 4.1 The development process of institutional investors in China can be divided into 4 stages | 第49-51页 |
| 4.2 The development stages of institutional investors in US | 第51-52页 |
| 4.3 Comparison of behavioral characteristics of institutional investors in China and US | 第52-54页 |
| 4.4 The influence on the research due to the differences between institutional investors in US and China | 第54-57页 |
| Ⅳ. EMPIRICAL TESTS AND ANALYSIS | 第57-75页 |
| 1. SAMPLE SELECTION | 第57页 |
| 2. RESEARCH HYPOTHESIS | 第57-58页 |
| 3. EMPIRICAL MODEL AND VARIABLES | 第58-61页 |
| 4. EMPIRICAL RESULTS AND ANALYSIS | 第61-75页 |
| 4.1 Descriptive statistics analysis | 第61-62页 |
| 4.2 Correlation analysis | 第62-66页 |
| 4.3 The T test for the first hypothesis | 第66-70页 |
| 4.4 Regression results analysis | 第70-73页 |
| 4.5 The robustness test | 第73-75页 |
| Ⅴ. CONCLUSIONS AND SUGGESTIONS | 第75-79页 |
| 1. CONCLUSIONS | 第75-76页 |
| 2. SUGGESTIONS | 第76-78页 |
| 3. SHORTAGE OF THE RESEARCH | 第78-79页 |
| REFERENCE | 第79-82页 |
