沪港通对沪深港股市竞争关系的影响研究

发布时间：2018-05-22 13:30

本文选题：沪港通 + 市场竞争关系　；参考：《软科学》2017年05期

【摘要】：在已经实施沪港通,即将实施深港通的背景下,以沪深交易所AH双重上市板块为研究对象,采用均值差异的T检验和Wilcoxon秩和检验方法分析在沪港通实施前后沪深港证券市场AH双重上市板块成交额的差异,采用Lotka-Volterra模型实证分析沪港通实施前后AH双重上市板块在沪港证券市场、深港证券市场之间的动态竞争关系的变化,以考察沪港通的实施对沪深港股市动态竞争关系的影响。结果表明,沪港通的实施对AH双重上市板块在沪港证券市场、深港证券市场之间的竞争关系产生了显著影响,人民币对港元汇率的波动也会对沪深港股市竞争关系产生影响。
[Abstract]:In the context of the implementation of the Stock Connect between Shanghai and Hong Kong and the imminent implementation of the Stock Connect between Shenzhen and Shenzhen, the dual listing of the AH plate of the Shanghai and Shenzhen Stock Exchange is taken as the research object. Using T-test of mean difference and Wilcoxon rank sum test, this paper analyzes the difference of AH dual-listed plate turnover between Shanghai and Hong Kong stock market before and after the implementation of Stock Connect between Shanghai and Hong Kong. The Lotka-Volterra model is used to empirically analyze the changes of the dynamic competitive relationship between the AH dual listed plates in the stock market of Shanghai and Hong Kong and between Shenzhen and Hong Kong before and after the implementation of the Stock Connect, in order to investigate the impact of the implementation of the Stock Connect on the dynamic competitive relationship between the Shanghai and Shenzhen stock markets. The results show that the implementation of the Stock Connect has a significant impact on the competitive relationship between the AH dual-listed stock market and the Shenzhen-Hong Kong stock market, and the fluctuation of the RMB exchange rate on the Hong Kong dollar will also have an impact on the competitive relationship between the Shanghai and Shenzhen stock markets.
【作者单位】：成都理工大学商学院;
【基金】：四川省软科学研究计划项目(2015ZR0228、2014ZR0211) 四川省教育厅人文社会科学重点项目(14SA0036) 国家大学生创新创业训练计划项目(201610616032、201510616070)
【分类号】：F832.51

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