中国股市不同阶段股价与成交量关系的对比分析——基于对上证指数的研究.docVIP

PAGE PAGE 19 中国股市不同阶段股价与成交量关系的对比分析 ——基于对上证指数的研究 摘要：随着我们国家的综合国力的不断上升，我国的经济实力也跟着不断上身，我国股市作为国家经济的重要组成部分，对国家经济的发展必定会起到巨大的作用。对牛市和熊市的股票价格与成交量互动关系进行对比分析，会发现股票价格和成交量的关系有着很大的差异，这说明随着国家的发展，我国的资本市场也在发生这翻天覆地的变化，国家越来越重视股市，随着“支持中国股市也是支持实体经济的一部分”的观点的落实,中国A股正在经历着前所未有的改革牛。同时，在不同的股市行情下，“量价关系”具有很大的差异性。具体来说，在市场行情非常好的情况下，比如现在的改革牛，股票价格与成交量具有很强的正相关性，股票价格对成交量具有单向的引导作用，而成交量却与股价没有明显的关系。在市场行情不好的情况下，两者之间没有明显的相互关系，也没有特别明显的因果关系，并且通过实证检验发现我国证券市场是部分有效的。 关键词：股票价格；成交量；牛市；熊市；Granger因果检验；Var模型 China’s stock market at different stages of interactive relationship between price and volume comparison analysis-based on the study of the Shanghai composite index Abstract: With the deepening of the reform and opening up, Chinas rapid economic development, the stock market as an important part of national economy, the countrys economic development is bound to play a huge role.In A bull market and bear market the stock price and volume were analyzed, the interaction relationship will find that the stock price and volume is a big difference, it shows that with the development of the country, our countrys capital markets are the earth-shaking changes, countries pay more and more attention to the stock market, as the support the Chinese stock market is a part of support the real economy point of view of implementation, China a-share market is undergoing an unprecedented reform.At the same time, under the different level of the stock market, the quantity and price relationship has great difference.Specifically, under the condition of the market is very good, now the reform of the cattle, for example, the stock price and trading volume has a strong positive correlation, the stock price has a one-way guide on trading volume, and trading volume and stock price have no obvious relationship.Under the condition of the market situation is bad, no obvious correlation between, there is no special obvious causality, and through the empirical test on our country securities market is partly effective. Keywords: The price o