股灾中政府“买入式”救市的有效性——基于A股市场的事件分析研究

发布时间：2018-06-20 12:32

本文选题：股灾 + “买入式”救市　；参考：《财经论丛》2017年07期

【摘要】：以2015年6月到8月中国2997家A股上市公司的日收益率数据为样本,筛选出2015年股灾中主要的政府"买入式"救市事件,利用事件分析法分析历次政府"买入式"救市事件对A股市场的影响。研究发现:历次政府"买入式"救市事件对A股市场收益率的影响不尽相同,主要受买入的绝对量和相对量、买入对象以及买入时机三个方面的影响。结论对政府在股灾期间"买入式"救市政策优化有指导意义。
[Abstract]:Taking the daily yield data of 2997 A-share listed companies in China from June to August 2015 as a sample, the major government "buy-out" rescue events in the 2015 stock market disaster were screened. This paper analyzes the influence of the government's "buy" rescue event on the A-share market by means of event analysis. It is found that the previous government "buy-type" rescue events have different effects on the A-share market yield, which are mainly affected by the absolute and relative amount of buying, the object of purchase and the timing of buying. The conclusion has the guiding significance to the government during the stock disaster period "buy type" rescue policy optimization.
【作者单位】：四川大学经济学院;美国约翰霍普金斯大学Carey商学院;西安交通大学经济与金融学院;中国人民大学财政金融学院;
【基金】：国家社会科学基金资助项目(15CJL057) 四川大学中央高校基本科研业务费资助项目(SKZX2015-GB09)
【分类号】：F832.51

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