中文摘要：

戴比尔斯是百年钻石产业的龙头,是奥本海默家族主导建立“钻石帝国”的核心企业.2011年11月,奥本海默家族做出了一个惊人的决定——出售所持有戴比尔斯的全部股权给其母公司英美集团,退出钻石产业.其后,国内、国际的钻石市场及其股票持有公司英美公司股票均出现了显著的下跌.通过对2011年前后市场状况、国际与国内市场数据的分析和比较,探索了奥本海默家族退出事件和钻石市场供求关系可能具有的内在联系,分析了导致这种变化市场因素之间的因果关系.无可否认,一个曾对钻石产业发展起到关键性作用的家族突然宣布放弃经营了80年的产业,可能会被市场深刻解读并反作用于市场,从而加深市场的反应.但现有的证据显示,2011-2015年上游钻石市场的波动更大的可能是全球金融危机和钻石产业内部矛盾耦合强化的结果,奥本海默家族预见到了这种矛盾爆发的基本时间点及可能对钻石产业的影响.显然,奥本海默家族退出不是钻石市场变化的主要原因,而是其结果.统计英美集团10年间股票LSE（The London School of Economics and Political Science,伦敦政治经济学院）价格指数可以发现,英美集团的股票从2008年开始长期处在一个大体下跌的过程,而在2008年经济危机之后,股票市场经历了不寻常的快速反弹,这有可能是市场对金融危机的过度反应的修正.显然,转换运作理由很难成立.更大的可能是,奥本海默家族可能对经济危机后的市场波动有系统的判断,认为世界钻石市场可能会由于市场的竞争及其它因素导致风险无法控制,进行股权出售更大可能是规避戴比尔斯品牌面临的市场风险,获得家族利益最大化.中国国内生产总值在2010、2011年均保持18%以上的增速,而在2012年突然跌至10%,其后一直下跌直至2015年的6%.这说明以中国为代表的下游市场已经出现了衰弱的指征.另?

英文摘要：

De Beers is a leading company of the century diamond industry, which is the core company of the Diamond Empire of Oppenheimer Family. In Nov. 2011,the family made a breathtaking decision to sell the stock right that they have of De Beers to its mother company Anglo American （AA. ） , and signed out the diamond industry. Then, the domestic and in-ternational stocks market and the stocks of AA were all decreased. It is to explore the inner connection between the change of diamond market and the decision of the family, and to ana-lyze the reasons of change by analyzing and comparing the market condition and the data of the international and domestic market around 2011. There is no doubt that it will be deeply analyzed that the family who has been a key of diamond industry for 80 years made a decision and be used to prove the response of the market. However, the present results show the market change for 2011 - 2015 is more likely a result of the combination of global financial crisis and the intensified inner industrial conflict, whose time and influence to the diamond market the family may be predict. Obviously, it is the result of the change of diamond mar-ket that the family singed out it instead of the reason.It can be found that there is a decreasing progress, except an unmoral quick rebounding to correct the excessive response for the economic crisis after it in 2008 by counting the Lon-don School of Economics and Political Science （LSE） value index of AA. during the 10 years. Obviously, it is hard to be explained by conversion operation. It is more probable that the family got a judgment to the movement of the market after the crisis, and considered the world wild diamond market will be out of control because of the completing, then sold the stock right to avoid the danger which De Beers faced, and made the benefit lager.The gross domestic product（ GDP） of China has kept the speed over 1 8 % in 2010 and 2011,and has decrea