市场趋势下对我国股票市场周内效应的实证分析

Weekday Effect of Shanghai Stock Market on Bull and Bear Stage

关于股票市场周内效应的问题研究很少考虑到牛、熊市场氛围对市场交易的影响。事实上,这是一个重要的影响因素,把牛、熊市场区分开来进行相关问题的研究,区分牛熊市场研究金融市场问题具有重要的理论意义和现实意义,所得结果对实际操作具有较大的指导作用。

In the study about the week effect on stock market,with little regard to the bullish or bearish market sentiment,In fact,this is an important factor influencing factors.In this paper,We prove that there is different weekday effect in Bull Market and Bear Market from 1997 to 2003 in Shanghai stock market.Then we find that there is a positive Friday effect and a negative Tuesday effect in Bull market,but in Bear market there is a negative Friday effect and a positive Tuesday effect.