我国股市(负)泡沫的行业分布结构

The industrial distribution structure of bubbles in chinese stock market

以股市泡沫的行业性结构分布为研究对象,首次在确定度量股市泡沫合理测度指标的基础上,从行业的角度出发,探讨股市泡沫的行业分布结构以及在不同的市场状况下这种行业结构变化.研究结论表明,股市泡沫的形成机理因行业而异,无论是在股市高涨还是股市萧条时期,股市泡沫在各个行业之间的分布具有很强的异质性.

For the bubble problem of the stock market, lot of domestic and international scholars carried on this research, but none of them were in consideration of the distribute structure of the stock market bubbles. This paper initially explores the industry structure of the stock market bubbles and the substantial result ex- press that industries have affects on the stock market bubbles. The bubbles in some industries are produced more easily than in other industries in stock market upsurge, while the bubbles in these industries falls through more quickly when stock market is depressed.