楼主: Queenleo
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systemic risk & systemastic risk & mariket risk 的疑问 [推广有奖]

looker2010 发表于 2010-5-12 19:59:44 |显示全部楼层
系统风险(Systematic Risk)又称整体风险或不可分散风险,包括经济衰退、战争、利率风险等不能通过多元化投资组合规避的风险。此类风险的爆发会直接影响到绝大多数甚至所有市场参与者。

系统性风险(Systemic Risk)是指这样一种风险,即在某一单一事件(市场失灵或机构失败)通过恐慌等引发连锁性的市场失灵或机构失败,或引发大量机构连锁性的严重损失,导致资本成本上升或资本的可得性下降,通常表现为严重的金融市场价格波动。系统性风险的核心特征是传染性。
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goddesert 发表于 2010-11-14 15:52:52 |显示全部楼层
5# happydude
Great ! learn a lot!
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kathyleong2009 发表于 2011-2-4 08:16:24 |显示全部楼层
我觉得5楼给的答案很详细的解释了楼主的问题。刚刚读完英格兰银行一位专家的文章,systemic risk就是针对于金融系统内部的风险,比如payment systems interbank derivative market non-banking activities,international exposure,capital markets等造成的金融系统内部存在不稳定因素。而systemastic risk是市场风险,是undiversify的,这个不局限于金融系统,任何市场比如食品工业·制药业等等,所有存在的公司、工业都会受到宏观经济波动等因素的影响,而造成的及时靠分散投资也不能降低风险的结果,这就是systemastic risk。而这些之间的关系,我认为楼主和童鞋们可以读英文原作,理解会更清晰。另外,此处所说的市场风险也不是楼主所谓的market risk。。。具体的词汇在不同环境下分析也不同的。最后感谢楼主提出这个问题,时隔这么久搜到这个问题还是想和大家讨论下~~~
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esther09 发表于 2011-3-5 07:59:25 |显示全部楼层
Systemic risk is one type of market risk.  Although systemic risk is caused by failure in financial system/ financial institution, it affects businesses in general (look at what happened to businesses during GFC).  Since risk in general can be divided into systematic risk and unsystematic risk, can we say that systemic risk is also one type of systematic risk?
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looker2010 发表于 2011-11-22 19:03:38 |显示全部楼层
回答很坑爹。
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seanzhangl 发表于 2012-12-31 20:43:28 |显示全部楼层
本帖最后由 seanzhangl 于 2012-12-31 20:46 编辑

偶然搜到这个老帖,挖一下坟。来一段国外的,因为国内的基本不区别这俩词,更没人在这抠,并且在08版GFC之前甚至没什么关于systemic risk的东西。如果能看懂,那就应该能理解了。
Systemic risk is generally used in reference to an event that can trigger a collapse in a certain industry or economy, whereas systematic risk refers to overall market risk. Systemic risk does not have an exact definition, many have used systemic risk to describe narrow problems, such as problems in the payments system, while others have used it to describe an economic crisis that was triggered by failures in the financial system. Generally, systemic risk can be described as a risk caused by an event at the firm level that is severe enough to cause instability in the financial system.
On the other hand, systematic risk does have a more recognized and universal definition. Sometimes plainly called market risk, systematic risk is the risk inherent in the aggregate market that cannot be solved by diversification. Some common sources of market risk are recessions, wars, interest rates and others that cannot be avoided through a diversified portfolio. Though systematic risk cannot be fixed with diversification, it can be hedged. Also, the risk that is specific to a firm or industry and can be solved by diversification is called unsystematic or idiosyncratic risk.
As an example of systemic risk, the collapse of Lehman Brothers in 2008 caused major reverberations throughout the financial system and the economy. Lehman Brother's size and integration in the economy caused its collapse to result in a domino effect that caused a major risk to the financial system in the U.S.

也就是说,11楼的回答应该是比较靠谱的,我是指名词和解释互换位置以后...也许11楼只是笔误,因为systemic是系统的,systematic是系统性,这个应该没有什么争议。
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qiezi01 发表于 2017-3-20 11:07:54 |显示全部楼层
11楼靠谱,中文解释跟英文是对应的,不过两个中文名词好像反了。systemic risk系统风险;systematic risk系统性风险。

摘抄一段Global Financial System Stability and Risk中的简短解释:

Systematic risk relates to non-diversifiable risk factors that affect everybody and is always present, perhaps the stock market, whilst systemic risk pertains to the danger of the entire financial system collapsing
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