摘要
证券定价包含着流动性因素,寻找显著影响证券流动性的因素是现代金融的一个重要课题.通过对我国沪市A股市场中影响个股流动性的因素实证分析,得到结论:股价水平、信息不对称程度、个股对投资者的吸引力及公司规模等都显著地影响着股票的流动性.
Since security pricing including its liquidity, it is very important to discover the factors impacting stock＇s liquidity for modem finance. By empirically analyzing specific stocks in Shanghai A stock exchange market, it is demon-strated that there are several factors that notably impact the liquidity. Among them are the price, the information asymmetry level, whether the specific stock attracting investors＇ attention and the company size.
出处
《绍兴文理学院学报》
2007年第7期31-36,共6页
Journal of Shaoxing University
关键词
流动性
因素
线性回归模型
半参数回归模型
liquidity
linear regression model
semi - parametric linear regression model
