摘要
本文用实证分析方法就利率调整对中国股市的影响进行了探讨。分析结果表明,利率调整对中国股市的长短期效应不同。短期里,股市价格与利率呈明显的负相关关系,即利率上调股价将下跌,反之亦然。长期而言,股价变动方向由利率和公司业绩的变动方向和幅度共同决定。
The paper makes a practical study of the influence of interest alteration on stock market. The analysis shows that the influence of changes in interest on Chinese stock exchange is twodimensional. In a short period of time, the stock prices and interest are negatively interrelated with each other, that is, the interest rises while stock prices go down, or interest cuts down while stock prices rise. In a long period of time, stock prices are positively interrelated with changes in interests and profit of listed companies.
出处
《广东经济管理学院学报》
2005年第4期40-43,58,共5页
Journal of Guangdong Institute of Business Administration
关键词
利率调整
股票市场
实证分析
changes in interests, stock market, a practical study
