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Journal of Nanjing Agricultural University(Social Sciences Edition). 2009, (04)

Analysis on the Impact of Lifting the Ban on Reducing "Large and Small Non-Tradable Shares" on the Current Stock MarketChinese Full Text

LIN Le-fen,JIN Yuan(College of Economics and Management,Nanjing Agricultural University,Nanjing 210095,China)

Abstract: From 2007 to 2009 the Chinese stock markets experienced a rapid rise of the "bull market" to the rapid decline of the "bear market".Investigating its reason,this article uses stock market from 2007-2009（March） of our country as well as the relevant economic variables time series data to carry on a co-integration analysis and a Granger Causality Test.The empirical results shows that the large-scale shaking of the Shanghai and Shenzhen stock index is caused by the multi-factor combined action in t... More
Keywords：

Large and Small Non-tradable Shares ban lifting; Holding Reduction; Co-integration analysis; Granger Causality Test;

  • Series：

    (H) Education ＆ Social Sciences; (J) Economics ＆ Management

  • Subject：

    Macro-economic Management and Sustainable Development; Investment; Finance; Securities; Market Research and Information

  • Classification Code：

    F224;F832.51

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