中国A股市场房地产板块与金融板块关联性研究

The Relevancy of Real Estate and Financial Sections in Chinese A-Stock-Market

房地产业与金融业因为资金链而紧密相连,从协整分析的结果看,在资本市场上房地产板块和金融板块开盘价、收盘价相互联动,房地产板块起着先导作用,但价格反应往往要滞后;而且房地产板块对金融板块影响越来越大,却没有决定性作用。对中国A股市场房地产板块与金融板的关联性进行了系统研究,得出金融板块的总体价格波动趋势和房地产板块的价格走势从长期来看,具有明显的关联性。

Financial services and real estate are closely linked because of the fund-chains.Based on the co-integration analysis,the opening and closing price in the capital markets for real estate sector and the financial sector closely interact each other.In spite of the real estate section often having the leading role,the price response often lags behind,and real estate sections have more impact on the financial section,but not a decisive role.This study systematically discusses the relevancy of real estate sector in A-stock market.The general fluctuation of financial sector and price tendency of real estate sections are deduced,and its relevancy is indicated.