杠杆效应与股市的波动行为研究  

Research on the volatility of the leverage effect and the stock market

作　　者：鲁璐[1] 项后军[2] 彭亚香 

机构地区：[1]宁波大学商学院,浙江宁波315211 [2]浙江财经大学经济与国际贸易学院,浙江杭州310018 [3]吉林省教育考试院,吉林长春130033

出　　处：《科技与管理》2016年第2期91-97,116,共8页Science-Technology and Management

摘　　要：自2014年11月以来,我国股市行情先是急剧上涨,又以暴跌的形式急剧下跌,对整个国民经济造成很大的影响。究其实质,发现"加杠杆"以及"去杠杆"操作在其间扮演着非常重要的角色。通过对"加杠杆"以及"去杠杆"操作对股市波动影响进行的分析,并运用多种实证方法从长期和短期等不同角度对"加杠杆"对股市波动的影响,以及"去杠杆"操作对股市波动的冲击进行研究,较好地揭示杠杆效应(以及去杠杆效应)对中国股市波动的影响,并给出一些针对性的建议。The dramatic fluctuation phenomenon comes a great impact on the national economic has appeared in the stock market since November 2014, which be- in China. Substantively, what we find is that the leverage effect plays an important role. For this, through the analysis on the impact of the leverage effect to Chinese stock market, this study use of multiple experimental analyzing methods in different periods. On this account, the study is a better approach to reflect the impact of the leverage effect to Chinese stock market, and puts forward the corresponding suggestions.

关 键 词：杠杆 去杠杆 传导理论分析 

分 类 号：F832.5[经济管理—金融学]