投资者情绪、市场流动性与股市崩盘风险  

Investor Sentiment,Market Liquidity,and the Risk of Stock Market Collapse

作　　者：姚君[1] YAO Jun(Jiangsu Institute of Information Technology Business School,Wuxi,Jiangsu 214000)

机构地区：[1]江苏信息职业技术学院商学院,江苏无锡214000

出　　处：《江苏商论》2024年第1期85-90,共6页Jiangsu Commercial Forum

基　　金：2018江苏省哲社项目:投资者情绪、市场流动性与股市崩盘风险(2018SJA0845);2022无锡市哲社项目:乡村振兴背景下数字普惠金融对农村家庭创业的影响研究(WXSK22-C-29);2021校级教科研项目:后疫情时代构建多层次在线教育资源的研究与实践(JSITJY202111)。

摘　　要：抑制股市崩盘风险是各国监管机构防范金融系统性风险,促进资本市场健康发展的关键问题。本文将投资者情绪、市场流动性和股市崩盘风险三者科学联系在一起,研究逻辑关系和作用机理。选取2010—2020年1867家样本公司,运用多元回归分析法,验证得出市场流动性和投资者情绪对股市崩盘风险具有正向刺激作用,进而从不同主体角度提出相应的对策建议。Suppressing the risk of stock market crashes is a key issue for regulatory agencies in various countries to prevent financial systemic risks and promote the healthy development of capital markets.This article scientifically links investor sentiment,market liquidity,and stock market crash risk,and studies the logical relationship and mechanism of action.Selecting 1867 sample companies from 2010 to 2020,using multiple regression analysis method,it was verified that market liquidity and investor sentiment have a positive stimulating effect on the risk of stock market crashes,and corresponding countermeasures and suggestions were proposed from different perspectives of different entities.

关 键 词：投资者情绪 市场流动性 股市崩盘风险 

分 类 号：F830[经济管理—金融学]