Abstract

China's Growth Enterprise Market has just started, because of the characteristics of the market itself, its risk is much higher than the ordinary securities investment markets. The risk of China's Growth Enterprise Market is can be reflected in many aspects, one of which from the investors is mainly caused by the excess of retail investors. To change this situation, this article, based on the principle of mechanism design in game theory, makes a pricing analysis of the commission rate of different types of investors and achieves the risk management of access system for the GEM market investors on the premise of ensuring the maximal interest of the securities companies.

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