摘要
20世纪90年代以来,随着信息技术和电子交易平台的快速发展,中国的股票市场规模不断扩大,股票市值增长迅速。本文以1995年到2011年沪深两市股票市价总值为研究对象,采用计量工具,在定量和实证分析的基础上,综合分析了宏观经济因素对中国股票市值的影响。研究发现:人民币储蓄存款对于中国股票市场市价总值具有消极影响,而人民币贷款总额对其影响不显著;货币政策尤其是货币供应量从多个角度影响股票市值;GDP增长总体上会推动股票市值的上升。
Since the 1990s,China’s stock markets have been expanding and the stock market capitalization has been grown rapidly.Based on the data of total stock market value in Shanghai and Shenzhen markets in 1995-2011,this article used statistical tools in quantitative and empirical analysis to analyze the impact of macroeconomic factors on China’s stock market capitalization.The study found that:RMB savings deposits have a negative impact on Chinese stock market value while RMB loans do not have significant influence;Monetary policy especially money supplies affect the stock market capitalization from various angles;GDP growth will overall raise the stock market value.
出处
《电子测试》
2013年第7X期218-219,共2页
Electronic Test
关键词
信息环境
中国股票市值
宏观经济因素
Information environment
Chinese stock market capitalization
macroeconomic factors
