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股票市場是如何運作的？
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00:06
In the 1600s the Dutch East India Company employed hundreds of ships to trade gold, porcelain, spices, and silks around the globe.
在17世紀，荷蘭東印度公司僱用數百艘船隻，在全球各地進行黃金、瓷器、香料和絲綢貿易。
00:16
But running this massive operation wasn’t cheap. In order to fund their expensive voyages, the company turned to private citizens– individuals who could invest money to support the trip in exchange for a share of the ship’s profits.
然而，經營如此龐大的業務成本不菲。為了資助其昂貴的航程，該公司轉向私人公民——這些人可以投資資金支持航程，以換取船隻利潤的一部分。
00:30
This practice allowed the company to afford even grander voyages, increasing profits for both themselves and their savvy investors.
這種做法讓公司能夠負擔得起更宏大的航程，同時增加了公司本身及其精明投資者的利潤。
00:39
Selling these shares in coffee houses and shipping ports across the continent, the Dutch East India Company unknowingly invented the world’s first stock market.
荷蘭東印度公司在遍及整個大陸的咖啡館和航運港口出售這些股份，在不知不覺中發明了世界上第一個股票市場。
00:50
Since then, companies have been collecting funds from willing investors to support all kinds of businesses.
從那時起，公司便一直向願意投資的投資者募集資金，以支持各種業務。
00:56
And today, the stock market has schools, careers, and even whole television channels dedicated to understanding it.
而今天，股票市場有專門的學校、職業，甚至整個電視頻道來幫助人們理解它。
01:04
But the modern stock market is significantly more complicated than its original incarnation.
但現代股票市場比其最初的形式顯著地更加複雜。
01:09
So how do companies and investors use the market today?
那麼，公司和投資者今天是如何利用這個市場的呢？
01:14
Let’s imagine a new coffee company that decides to launch on the market. First, the company will advertise itself to big investors.
讓我們想像一家新的咖啡公司決定在市場上推出。首先，該公司會向大型投資者宣傳自己。
01:22
If they think the company is a good idea, they get the first crack at investing, and then sponsor the company’s initial public offering, or IPO.
如果他們認為這家公司是個好主意，他們就能優先投資，然後贊助該公司的首次公開募股（IPO）。
01:31
This launches the company onto the official public market, where any company or individual who believes the business could be profitable might buy a stock.
這將公司推向官方公開市場，任何相信該業務有利可圖的公司或個人都可能購買股票。
01:39
Buying stocks makes those investors partial owners in the business.
購買股票使這些投資者成為該公司的部分股東。
01:44
Their investment helps the company to grow, and as it becomes more successful,
他們的投資幫助公司成長，並且隨著公司越來越成功，
01:48
more buyers may see potential and start buying stocks.
更多的買家可能會看到潛力並開始購買股票。
01:51
As demand for those stocks increases, so does their price, increasing the cost for prospective buyers, and raising the value of the company's stocks people already own.
隨著這些股票的需求增加，其價格也會上漲，這增加了潛在買家的成本，並提升了人們已經持有的公司股票價值。
02:01
For the company, this increased interest helps fund new initiatives, and also boosts its overall market value by showing how many people are willing to invest in their idea.
對於公司而言，這種增加的興趣有助於資助新的計畫，同時也透過顯示有多少人願意投資他們的理念，提升了其整體市值。
02:13
However, if for some reason a company starts to seem less profitable the reverse can also happen.
然而，如果由於某種原因，一家公司開始顯得盈利能力下降，反向情況也可能發生。
02:19
If investors think their stock value is going to decline, they’ll sell their stocks with the hopes of making a profit before the company loses more value.
如果投資者認為他們的股票價值將會下跌，他們會希望在公司損失更多價值之前出售股票以獲利。
02:27
As stocks are sold and demand for the stock goes down, the stock price falls, and with it, the company’s market value.
隨著股票被出售且對該股票的需求下降，股票價格隨之下跌，公司的市值也隨之下降。
02:34
This can leave investors with big losses– unless the company starts to look profitable again.
這可能讓投資者蒙受巨大損失——除非公司再次顯得有利可圖。
02:40
This see-saw of supply and demand is influenced by many factors.
供需的擺盪受許多因素影響。
02:45
Companies are under the unavoidable influence of market forces– such as the fluctuating price of materials, changes in production technology, and the shifting costs of labor.
企業無可避免地受市場力量影響，例如原物料價格波動、生產技術變革，以及勞動成本變化。
02:56
Investors may be worried about changes in leadership, bad publicity, or larger factors like new laws and trade policies.
投資人可能擔心領導層變動、負面報導，或是新法規和貿易政策等更大的因素。
03:03
And of course, plenty of investors are simply ready to sell valuable stocks and pursue personal interests.
當然，許多投資人只是準備賣出有價值的股票，並追求個人目標。
03:09
All these variables cause day-to-day noise in the market, which can make companies appear more or less successful.
所有這些變數造成市場日常波動，這可能讓公司顯得更成功或更不成功。
03:16
And in the stock market, appearing to lose value often leads to losing investors, and in turn, losing actual value.
而在股市中，顯得正在失去價值往往導致投資人流失，進而失去實際價值。
03:23
Human confidence in the market has the power to trigger everything from economic booms to financial crises.
人們對市場的信心有能力觸發從經濟繁榮到金融危機的一切。
03:30
And this difficult-to-track variable is why most professionals promote reliable long term investing over trying to make quick cash.
而這個難以追蹤的變數，就是大多數專業人士提倡可靠的長期投資，而非追求快速獲利的原因。
03:38
However, experts are constantly building tools in efforts to increase their chances of success in this highly unpredictable system.
然而，專家們不斷開發工具，以期在這個高度不可預測的系統中增加成功的機會。
03:45
But the stock market is not just for the rich and powerful.
但股市不只屬於富人和權貴。
03:49
With the dawn of the Internet, everyday investors can buy stocks in many of the exact same ways a large investor would.
隨著網路的興起，一般投資人可以用許多與大額投資人完全相同的方式購買股票。
03:56
And as more people educate themselves about this complex system they too can trade stocks, support the businesses they believe in, and pursue their financial goals.
隨著越來越多人了解這個複雜的系統，他們也能交易股票、支持他們信任的企業，並追求他們的財務目標。
04:05
The first step is getting invested.
第一步是進行投資。

股票市場是如何運作的？

📝 影片摘要

本單元深入淺出地介紹股票市場的起源與運作機制。從荷蘭東印度公司開創性的股份發行，到現代複雜的金融體系，影片揭示了公司如何透過首次公開募股（IPO）向公眾籌集資金，並讓投資者透過購買股票成為股東。影片詳細闡述了股票價格的漲跌受供需關係影響，進而牽動公司市值，並分析了影響供需的諸多因素，包括市場力量、公司營運狀況、領導層變動、法規政策，乃至投資者信心。強調了股市波動性，以及長期投資的重要性，並指出網路時代已讓一般投資者也能參與其中，追求個人財務目標。

📌 重點整理

  • ✓ 股票市場的起源可追溯至17世紀荷蘭東印度公司的股份發行。
  • ✓ 公司透過首次公開募股（IPO）將股票推向公開市場，向大眾籌集資金。
  • ✓ 購買股票使投資者成為公司的部分股東，分享公司成長的潛在利益。
  • ✓ 股票價格受市場供需影響，需求增加帶動價格上漲，反之亦然。
  • ✓ 公司市值與其股票價值緊密相關，反映了市場對其盈利能力的預期。
  • ✓ 影響股票供需的因素眾多，包含公司營運、市場力量、政策法規及投資者信心。
  • ✓ 股市存在高度波動性，投資者信心對市場影響巨大，長期投資較為可靠。
  • ✓ 網路科技普及化，讓一般投資者也能輕易參與股票市場，實現財務目標。
📖 專有名詞百科 ｜點擊詞彙查看維基百科解釋
股票市場
stock market
投資者
investors
首次公開募股
initial public offering
股份
shares
股東
shareholder
需求
demand
市值
market value
盈利的
profitable
供需
supply and demand
波動性
volatility

🔍 自訂查詢

📚 共 10 個重點單字
stock market /stɒk ˈmɑːkɪt/ noun
a place where shares in companies are bought and sold
股票市場
📝 例句
"the Dutch East India Company unknowingly invented the world’s first stock market."
→ 荷蘭東印度公司在不知不覺中發明了世界上第一個股票市場。
✨ 延伸例句
"He is a regular on the stock market."
→ 他是股票市場的常客。
investors /ɪnˈvestəz/ noun
people who put money into a business or activity in order to earn more money
投資者
📝 例句
"individuals who could invest money to support the trip in exchange for a share of the ship’s profits."
→ 個人可以投資資金支持航程，以換取船隻利潤的一部分。
✨ 延伸例句
"The company is seeking investors to fund its expansion."
→ 該公司正在尋找投資者來資助其擴張。
initial public offering /ɪˈnɪʃəl ˈpʌblɪk ˈɒfərɪŋ/ noun phrase
the first time a company offers its shares for sale to the public
首次公開募股 (IPO)
📝 例句
"and then sponsor the company’s initial public offering, or IPO."
→ 然後贊助該公司的首次公開募股（IPO）。
✨ 延伸例句
"The tech company announced its upcoming IPO."
→ 這家科技公司宣布了即將進行的首次公開募股。
shares /ʃeərz/ noun
units of ownership in a company
股份；股票
📝 例句
"Selling these shares in coffee houses and shipping ports across the continent, the Dutch East India Company unknowingly invented the world’s first stock market."
→ 荷蘭東印度公司在遍及整個大陸的咖啡館和航運港口出售這些股份，在不知不覺中發明了世界上第一個股票市場。
✨ 延伸例句
"He bought shares in the company during its IPO."
→ 他在首次公開募股時購買了該公司的股份。
shareholder /ˈʃeərhəʊldər/ noun
a person who owns shares in a company and therefore has a proportion of the ownership of that company
股東
📝 例句
"Buying stocks makes those investors partial owners in the business."
→ 購買股票使這些投資者成為該公司的部分股東。
✨ 延伸例句
"As a shareholder, she has the right to vote on company matters."
→ 作為股東，她有權對公司事務進行投票。
demand /dɪˈmænd/ noun
the desire to buy something and the ability to pay for it
需求
📝 例句
"As demand for those stocks increases, so does their price, increasing the cost for prospective buyers, and raising the value of the company's stocks people already own."
→ 隨著這些股票的需求增加，其價格也會上漲，這增加了潛在買家的成本，並提升了人們已經持有的公司股票價值。
✨ 延伸例句
"There is high demand for the new smartphone model."
→ 新款智能手機的市場需求很高。
market value /ˈmɑːkɪt ˈvæljuː/ noun phrase
the amount of money that something is worth on the stock market
市值
📝 例句
"and with it, the company’s market value."
→ 與之俱減的是公司的市值。
✨ 延伸例句
"The company's market value has doubled this year."
→ 該公司的市值今年翻了一番。
profitable /ˈprɒfɪtəbl/ adjective
making or likely to make a profit
盈利的；有利可圖的
📝 例句
"If they think the company is a good idea, they get the first crack at investing, and then sponsor the company’s initial public offering, or IPO."
→ 如果他們認為這家公司是個好主意，他們就能優先投資，然後贊助該公司的首次公開募股（IPO）。
✨ 延伸例句
"The new venture proved to be highly profitable."
→ 新的冒險事業被證明是非常有利可圖的。
supply and demand /səˈplaɪ ən dɪˈmænd/ noun phrase
the relationship between the amount of something that is available and the amount that is wanted
供需
📝 例句
"This see-saw of supply and demand is influenced by many factors."
→ 供需的擺盪受許多因素影響。
✨ 延伸例句
"The price of gasoline is determined by supply and demand."
→ 汽油價格由供需決定。
volatility /ˌvɒləˈtɪləti/ noun
the quality of being likely to change suddenly
波動性；不穩定性
📝 例句
"All these variables cause day-to-day noise in the market, which can make companies appear more or less successful."
→ 所有這些變數造成市場日常波動，這可能讓公司顯得更成功或更不成功。
✨ 延伸例句
"The stock market is known for its volatility."
→ 股市以其波動性而聞名。
🎯 共 10 題測驗

1 Who is credited with inventing the world's first stock market? 誰被認為發明了世界上第一個股票市場？ Who is credited with inventing the world's first stock market?

誰被認為發明了世界上第一個股票市場？

✅ 正確！ ❌ 錯誤，正確答案是 A

The video states that the Dutch East India Company, by selling shares in coffee houses and shipping ports, unknowingly invented the world's first stock market.

影片提到，荷蘭東印度公司在咖啡館和航運港口出售股份，在不知不覺中發明了世界上第一個股票市場。

2 What is an Initial Public Offering (IPO)? 什麼是首次公開募股（IPO）？ What is an Initial Public Offering (IPO)?

什麼是首次公開募股（IPO）？

✅ 正確！ ❌ 錯誤，正確答案是 A

An IPO is when a company launches onto the official public market and any individual or company can buy its stock.

IPO是指公司進入官方公開市場，任何公司或個人都可以購買其股票。

3 What makes investors become partial owners in a business? 什麼讓投資者成為公司的部分股東？ What makes investors become partial owners in a business?

什麼讓投資者成為公司的部分股東？

✅ 正確！ ❌ 錯誤，正確答案是 A

The video explains that buying stocks makes investors partial owners in the business.

影片解釋說，購買股票使這些投資者成為公司的部分股東。

4 According to the video, what happens when the demand for a company's stock increases? 根據影片，當一家公司股票的需求增加時會發生什麼？ According to the video, what happens when the demand for a company's stock increases?

根據影片，當一家公司股票的需求增加時會發生什麼？

✅ 正確！ ❌ 錯誤，正確答案是 A

The video states that as demand for stocks increases, so does their price.

影片提到，隨著股票需求的增加，其價格也會上漲。

5 Which of the following is NOT mentioned as a factor influencing stock supply and demand? 下列哪個選項未被提及為影響股票供需的因素？ Which of the following is NOT mentioned as a factor influencing stock supply and demand?

下列哪個選項未被提及為影響股票供需的因素？

✅ 正確！ ❌ 錯誤，正確答案是 C

The video lists fluctuating price of materials, changes in leadership, and new laws and trade policies as factors, but not weather changes.

影片列舉了原物料價格波動、領導層變動、新法規和貿易政策等因素，但未提及天氣變化。

6 What can trigger everything from economic booms to financial crises, according to the video? 根據影片，什麼事件可能引發從經濟繁榮到金融危機的一切？ What can trigger everything from economic booms to financial crises, according to the video?

根據影片，什麼事件可能引發從經濟繁榮到金融危機的一切？

✅ 正確！ ❌ 錯誤，正確答案是 B

The video highlights that human confidence in the market has the power to trigger everything from economic booms to financial crises.

影片強調，人們對市場的信心有能力觸發從經濟繁榮到金融危機的一切。

7 Why do most professionals promote reliable long-term investing? 為什麼大多數專業人士提倡可靠的長期投資？ Why do most professionals promote reliable long-term investing?

為什麼大多數專業人士提倡可靠的長期投資？

✅ 正確！ ❌ 錯誤，正確答案是 B

The video suggests that the unpredictable nature of the market and its variables make short-term gains difficult to achieve reliably, hence the promotion of long-term investing.

影片指出，市場及其變數的高度不可預測性使得短期獲利難以可靠地實現，因此提倡長期投資。

8 What has made it possible for everyday investors to participate in the stock market in similar ways to large investors? 是什麼讓一般投資者能夠以與大額投資者相似的方式參與股票市場？ What has made it possible for everyday investors to participate in the stock market in similar ways to large investors?

是什麼讓一般投資者能夠以與大額投資者相似的方式參與股票市場？

✅ 正確！ ❌ 錯誤，正確答案是 B

The video mentions that with the dawn of the Internet, everyday investors can buy stocks in many of the exact same ways a large investor would.

影片提到，隨著網際網路的興起，一般投資者可以用許多與大額投資者完全相同的方式購買股票。

9 What is the first step mentioned for individuals wanting to participate in the stock market? 影片中提到，個人想要參與股票市場的第一步是什麼？ What is the first step mentioned for individuals wanting to participate in the stock market?

影片中提到，個人想要參與股票市場的第一步是什麼？

✅ 正確！ ❌ 錯誤，正確答案是 C

The final sentence of the video states, 'The first step is getting invested.'

影片最後一句話說：「第一步是進行投資。」

10 If a company's stock value declines, what are investors likely to do? 如果一家公司的股票價值下跌，投資者可能會怎麼做？ If a company's stock value declines, what are investors likely to do?

如果一家公司的股票價值下跌，投資者可能會怎麼做？

✅ 正確！ ❌ 錯誤，正確答案是 B

The video explains that if investors think their stock value is going to decline, they'll sell their stocks with the hopes of making a profit before the company loses more value.

影片解釋說，如果投資者認為他們的股票價值將會下跌，他們會希望在公司損失更多價值之前出售股票以獲利。

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