Chinese stocks plummeted nearly 7 perrcent on May 30, leading to a los of over 1 trillion yuan. The sharp drop was caused by an increase in stamp tax on stock trading, tripling the previous rate. It was considered a m...Chinese stocks plummeted nearly 7 perrcent on May 30, leading to a los of over 1 trillion yuan. The sharp drop was caused by an increase in stamp tax on stock trading, tripling the previous rate. It was considered a market correction and was right in time to kill recent stock mania around the country. The Chinese stock market rebounded the following day, showing off investors' strong expectations. The Shanghai Stock Exchange stated China is preparing for overseas-listed Chinese companies and international blue chips to be listed on the mainland. The Chinese oil giant Sinopec survived the drop, as it had discovered a new oil field and was expected to generate more profits for its shareholders. Apart from exploring more oil and other traditional energy sources, China is also devoted to developing nuclear power. Government officials disclosed that domestic private companies and foreign companies will be allowed to invest in Chinese nuclear power plants, but didn't give an exact timetable. Private companies have performed well in China and their fixed asset investment accounts for 56 percent of the nation's total.展开更多
本文以上证50ET F期权为研究对象,利用G A R C H及T A R C H模型深入研究上证50ET F期权推出对股票市场波动性的影响,利用V EC模型及方差分解方法研究宏观经济在股票期权推出前后对股票市场贡献度的变化。研究发现股票期权推出能降低股...本文以上证50ET F期权为研究对象,利用G A R C H及T A R C H模型深入研究上证50ET F期权推出对股票市场波动性的影响,利用V EC模型及方差分解方法研究宏观经济在股票期权推出前后对股票市场贡献度的变化。研究发现股票期权推出能降低股票市场的总体波动性,加大市场波动的非对称性。同时,能扩大宏观经济对股票市场的贡献度,加快新信息的传递速度,改善股票市场的有效性。最后,对我国期权市场的进一步发展提出相应的建议。展开更多
文摘Chinese stocks plummeted nearly 7 perrcent on May 30, leading to a los of over 1 trillion yuan. The sharp drop was caused by an increase in stamp tax on stock trading, tripling the previous rate. It was considered a market correction and was right in time to kill recent stock mania around the country. The Chinese stock market rebounded the following day, showing off investors' strong expectations. The Shanghai Stock Exchange stated China is preparing for overseas-listed Chinese companies and international blue chips to be listed on the mainland. The Chinese oil giant Sinopec survived the drop, as it had discovered a new oil field and was expected to generate more profits for its shareholders. Apart from exploring more oil and other traditional energy sources, China is also devoted to developing nuclear power. Government officials disclosed that domestic private companies and foreign companies will be allowed to invest in Chinese nuclear power plants, but didn't give an exact timetable. Private companies have performed well in China and their fixed asset investment accounts for 56 percent of the nation's total.
文摘本文以上证50ET F期权为研究对象,利用G A R C H及T A R C H模型深入研究上证50ET F期权推出对股票市场波动性的影响,利用V EC模型及方差分解方法研究宏观经济在股票期权推出前后对股票市场贡献度的变化。研究发现股票期权推出能降低股票市场的总体波动性,加大市场波动的非对称性。同时,能扩大宏观经济对股票市场的贡献度,加快新信息的传递速度,改善股票市场的有效性。最后,对我国期权市场的进一步发展提出相应的建议。
