摘要
选取上交所煤炭石油板上市的股改股票作为样本,以股改时间为划分点,划分为股改前和股改后两个阶段,运用单一指数模型分别对两个阶段的β系数进行估计,分析上证指数对个股收益率的影响程度,发现股权分置对煤炭石油板的系统性风险并无显著影响,并提出相应降低该板系统性风险的政策措施。
This paper selected stocks of SSE＇ s coal and oil sector as samples and divided them into two stages before and after the share reform;then estimated the β coefficients of the two stages by single exponential model and analyzed the influence of Shanghai Composite Index on the earning rate of stocks. It＇s found that floating non - tradable shares has no significant impact on the systematic risks of coal and oil sector. The paper also put forward corresponding policy measures to reduce the risks.
出处
《广西财经学院学报》
2010年第1期74-77,共4页
Journal of Guangxi University of Finance and Economics
基金
教育部人文社科学基金2007年度规划项目"证券市场中政策传导机制的复杂性(07JA790063)"阶段性成果
关键词
煤炭石油板块
资本资产定价
股权分置
系统性风险
coal and oil sector
capital asset pricing
non- tradable share issue
systematic risks
