CAJ | 학술논문

股票投资与实业投资具有相同的商业本质，是可以实现国家、股市、企业和个人四者共赢的“正和”行为。与此相比，股票投机是一种股价博弈，在整体上是一种“负和”行为，不具有伦理上的正义性。股票投机与投资的伦理异质性集中表现在思想理念、行为方式、获利来源、社会影响等四个方面。要降低股票投机的消极影响，实现股市的稳健发展，必须加强投资者教育，倡导股票投资，反对股票投机，防范过度的股票投机，严厉打击非法的股票投机，并努力营造良好的股票投资环境。
고표투자여실업투자구유상동적상업본질，시가이실현국가、고시、기업화개인사자공영적“정화”행위。여차상비，고표투궤시일충고개박혁，재정체상시일충“부화”행위，불구유윤리상적정의성。고표투궤여투자적윤리이질성집중표현재사상이념、행위방식、획리래원、사회영향등사개방면。요강저고표투궤적소겁영향，실현고시적은건발전，필수가강투자자교육，창도고표투자，반대고표투궤，방범과도적고표투궤，엄려타격비법적고표투궤，병노력영조량호적고표투자배경。
Stock investment has the same commercial nature as industrial investment; it is a positive behavior which can benefit country, the stock market, enterprises and individuals. In contrast, stock speculation is a price game; it is a negative behavior without the ethical justice on the whole. The ethical heterogeneity between the stock speculation and investment manifest in four aspects： ideas, behaviors, revenue sources and social influence. To reduce the negative impact of stock speculation and to achieve the healthy development of the stock market, we must strengthen investor education, advocate stock investment, prevent excessive speculation in stocks, oppose to stock speculation, combat illegal stock speculation and strive to create a good stock investment environment.