新能源股股价波动性研究  

Research on the Volatility of New Energy Stocks

作　　者：卜佳慧 BU Jiahui

机构地区：[1]吉林财经大学,吉林长春130117

出　　处：《吉林金融研究》2022年第9期40-43,共4页Journal of Jilin Financial Research

摘　　要：新能源天然的具有环保属性,其发展不仅能缓解环境压力,还能带动经济,促进就业。然而,近些年新能源股价波动频繁,破坏市场的稳定,影响投资。因此,本文采用GARCH(1,1)模型族对我国新能源股票价格的波动性展开研究。结果表明,新能源股票价格序列存在明显的非线性特征,股价收益率序列具有波动聚集性、非杠杆化特性,并表现出尖峰厚尾的特征。针对新能源股价波动不利于股市稳定和中小投资者理性投资这一情况,监管机构必须严格执行监管政策,遵循相关法律制度,并通过提高市场的透明度,促使新能源股市健康发展、合理引导中小投资者投资。New Energy has the nature of environmental protection,its development can not only ease the pressure on the environment,but also drive the economy,promote employment.However,the stock price of new energy fluctuates frequently in recent years,which destabilizes the market and affects investment.Therefore,this paper uses GARCH(1,1)model family to study the volatility of China’s new energy stock prices.The results show that the new energy stock price series has obvious nonlinear characteristics,and the stock return series has the characteristics of volatility aggregation,non-leverage,and has the characteristics of peak and fat tail.In view of the fact that the volatility of new energy stock prices is not conducive to the stability of the stock market and the rational investment of small and medium-sized investors,regulators must strictly implement regulatory policies,follow relevant legal systems and promote market transparency,we will promote the healthy development of the new energy stock market and reasonably guide small and medium-sized investors to invest.

关 键 词：GARCH模型族 波动性 新能源股 

分 类 号：F830[经济管理—金融学]