中國(guó)內(nèi)地股票市場(chǎng)與外圍股票市場(chǎng)聯(lián)動(dòng)性研究.pdf

1、蘇州大學(xué)碩士學(xué)位論文中國(guó)內(nèi)地股票市場(chǎng)與外圍股票市場(chǎng)聯(lián)動(dòng)性研究姓名：楊軍申請(qǐng)學(xué)位級(jí)別：碩士專業(yè)：金融學(xué)指導(dǎo)教師：?jiǎn)坦鹈?0100401Abstl‘a(chǎn)ctAnEmpiricalStudyoftheComovementbetweenChinaandOtherFiveStockMarketsAnEmpiricalStudyoftheComovementbetweenChinaandOtherFiveStockMarketsAbs仃actSinc

2、ethe1990s，theinternationalfinancialmarketsarefullofchanges，andthousandsoffinancialeventsappearinavarietyofwaysDevelopedfinancialentitiesnolongeraffectdevelopingfinancialentitiesunilaterallyThedevelopingfinancialentitiesc

3、allaffectthedevelopedfinancialentitiesinaSalTlewayWhenthosefinancialentitiesfacetheSalTleriskfactors，theirstockmarketsdisplayCOmovementcharacteristicsThroughstudyingoncomovementofseveralstockmarkets，weCanevaluatetheriskd

4、iversificationcapabilitiesofusingseveraldifferentstockmarketsSo，the0COmovementsofstockmarketshavebecomearlimportantissueoffinancialareaWiththeupgradingofChina’seconomicstatus，thefinancialrelationshipbetweenChinaandworldw

5、idefinancialmarketsmustbecomemoreintensifiedInthissituation，researchonChina’SfinancialmarketswillhavetheoryandpracticemeaningAfterthemainintroductionofabroadanddomesticresearchaboutCOmovementofstockmarkets，thispaperdescr

6、ibedtheopeninganddevelopingprocessofChinaseconomyandstockmarketInordertoobtainthedetailCO—movementsbetweenChinaandotherfivestockmarkets，IdividedtheindexinfourpartsTheeconometricmethodsusedinthispaperincludeCointegrationt

7、est，ECMmodeletcTheresearchresultsdemonstratethattheaveragecoelationbetweenChinaandworldstockmarketsimprovessignificantlyandexhibitssomeconvergencetrendsCointegrationalsoexistsamongthosestockmarketsentirelyafterthesharere