本文關(guān)鍵詞： 供求關(guān)系 股票市場(chǎng) 價(jià)格波動(dòng)　出處：《暨南大學(xué)》2013年碩士論文　論文類型：學(xué)位論文

【摘要】：隨著股票市場(chǎng)在我國金融市場(chǎng)中地位的不斷提高，股票市場(chǎng)價(jià)格波動(dòng)對(duì)宏觀經(jīng)濟(jì)的影響一直受到管理層和學(xué)術(shù)界的關(guān)注，當(dāng)前我國股票市場(chǎng)無論在參與者人數(shù)，還是在上市公司數(shù)量方面，，都已今非昔比。本文結(jié)合當(dāng)前股票市場(chǎng)供求關(guān)系現(xiàn)狀，從供給與需求兩個(gè)方面討論了影響我國股票市場(chǎng)價(jià)格波動(dòng)的影響因素并進(jìn)行了研究和檢驗(yàn)，探討了股票市場(chǎng)和宏觀經(jīng)濟(jì)之間的傳導(dǎo)機(jī)制，并對(duì)規(guī)范市場(chǎng)發(fā)展提供了相關(guān)的政策建議，揭示了股票市場(chǎng)波動(dòng)對(duì)宏觀經(jīng)濟(jì)的深遠(yuǎn)影響。 本文主要從市場(chǎng)供求關(guān)系分析的視角闡釋了影響我國股票市場(chǎng)波動(dòng)的主要作用機(jī)制。研究發(fā)現(xiàn)，供求關(guān)系影響因素在股票市場(chǎng)價(jià)格波動(dòng)中至關(guān)重要。影響股票價(jià)格波動(dòng)的因素很多，通過對(duì)影響因素進(jìn)行供給和需求的劃分，同時(shí)引入到股票資產(chǎn)的供求分析中，進(jìn)而構(gòu)建股票價(jià)格的相對(duì)變化和股票供需缺口之間的正比關(guān)系模型，從而把股票供給和需求兩個(gè)方面因素結(jié)合在一起得到了簡(jiǎn)化形式的二階差分方程，根據(jù)差分方程穩(wěn)定性條件，推出了影響我國股票市場(chǎng)穩(wěn)定性的重要因素和防范市場(chǎng)大幅波動(dòng)的條件。差分方程的穩(wěn)定構(gòu)成了供需之間實(shí)現(xiàn)均衡的重要條件，文章以此為重要前提進(jìn)行了深入的討論。本文以我國上證指數(shù)為樣本，以國泰安提供的數(shù)據(jù)為依據(jù)，采用多元線性回歸等方法，對(duì)影響因素的顯著性進(jìn)行了檢驗(yàn)和分析。 通過以上從供求關(guān)系的視角對(duì)股票市場(chǎng)價(jià)格波動(dòng)的研究，本文結(jié)合全文的分析過程給出了穩(wěn)定我國股票市場(chǎng)、防范大幅波動(dòng)的政策建議，同時(shí)對(duì)當(dāng)前市場(chǎng)價(jià)格波動(dòng)研究提供了一個(gè)研究思路和合理解釋，最后對(duì)本文研究的不足和未來進(jìn)一步研究方向進(jìn)行了總結(jié)和分析。
[Abstract]:With the increasing position of stock market in Chinese financial market, the impact of stock market price fluctuation on macro economy has been concerned by management and academic circles. At present, the number of participants in stock market in our country is no matter the number of participants. In terms of the number of listed companies, this paper discusses the factors that affect the price fluctuation of the stock market in China from the two aspects of supply and demand, combining with the current situation of supply and demand in the stock market. This paper probes into the transmission mechanism between the stock market and the macro economy, and provides relevant policy suggestions for regulating the development of the market, and reveals the profound influence of the stock market fluctuation on the macro economy. From the perspective of market supply and demand analysis, this paper explains the main mechanism that affects the volatility of stock market in China. The influence factors of supply and demand are very important in the price fluctuation of stock market. There are many factors that influence the fluctuation of stock price. By dividing the factors of supply and demand, it is introduced into the analysis of the supply and demand of stock assets at the same time. Then a model of the proportional relationship between the relative change of stock price and the gap between supply and demand of stock is constructed, and then the simplified second-order difference equation is obtained by combining the two factors of stock supply and demand. According to the stability conditions of the difference equation, the important factors affecting the stability of the stock market in China and the conditions to prevent the large volatility of the stock market are deduced. The stability of the difference equation constitutes the important condition for achieving the equilibrium between supply and demand. Based on the data provided by Guotai'an, this paper tests and analyzes the significance of the influencing factors by using multiple linear regression method and so on, taking the Shanghai Stock Exchange Index as the sample and the data provided by Cathay Tai'an as the basis. Through the above research on the stock market price fluctuation from the angle of supply and demand, this paper gives some policy suggestions to stabilize our stock market and guard against the large fluctuation, combined with the analysis process of the full text. At the same time, it provides a research idea and reasonable explanation for the current market price fluctuation research, and finally summarizes and analyzes the deficiency of this paper and the future research direction.
【學(xué)位授予單位】：暨南大學(xué)
【學(xué)位級(jí)別】：碩士
【學(xué)位授予年份】：2013
【分類號(hào)】：F832.51;F224

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