基于省级行政区划分类的中国A股联动分析——以重庆成为直辖市为例

发布时间：2018-01-12 15:18

本文关键词：基于省级行政区划分类的中国A股联动分析——以重庆成为直辖市为例　出处：《企业经济》2014年01期 　论文类型：期刊论文

【摘要】：藉助重庆市被设立为直辖市这一特殊历史事件,对基于省级行政区划分类的原四川A股的联动变化进行了检验。分析发现,中国A股市场的信息传播渠道是通畅的,但参与中国A股市场的投资者并不都是理性的。相对重庆组合、四川组合,重庆市被设立为直辖市是各样本联动变化的原因之一。虽然各样本联动变化短期内呈现出过度反应的特征,但或许是投资者有限关注的存在,直到重庆市正式被设立为直辖市,投资重庆A股的投资者才将行政区划上的重庆市与四川省区分开来。研究得出,基于省级行政区划分类的中国A股存在联动关系。
[Abstract]:With the help of the special historical event that Chongqing was established as a municipality directly under the Central Government, this paper tests the linkage changes of the original Sichuan A-shares based on the division of provincial administrative regions. The information dissemination channel of China A-share market is smooth, but the investors who participate in the A-share market are not all rational. Compared with Chongqing portfolio, Sichuan portfolio. The establishment of Chongqing as a municipality directly under the Central Government is one of the reasons for the linkage change of each sample. Although the changes of each sample show the characteristics of overreaction in a short period of time, it may be a limited concern of investors. Until Chongqing was officially established as a municipality directly under the Central Government, investors investing in Chongqing A shares did not distinguish Chongqing from Sichuan Province in administrative divisions. There is a linkage relationship between A shares of China based on the division of provincial administrative regions.
【作者单位】：江西财经大学;
【分类号】：F830.91;F224
【正文快照】： 1997年6月18日,重庆直辖市政府机构正式挂牌,中国A股市场上的“重庆板块”应运而生,成为了独立于“四川板块”的存在。重庆市直辖所带来的政治意义远远大于实际的经济意义,这一历史事件的发生,为探索中国A股联动的来源提供了一条捷径。股票价格是上市公司基本面的反映。按照

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