Dissertation > Excellent graduate degree dissertation topics show

The Study of Chinese Stock Market Wealth Effect

Author: LiangMingXing
Tutor: ZhaoZuo
School: Ocean University of China
Course: Finance
Keywords: the stock market wealth effect error correction model the difference in wealth effect
CLC: F832.51
Type: Master's thesis
Year: 2010
Downloads: 60
Quote: 0
Read: Download Dissertation

Abstract


With the deepening share structure reform starting form 2005,the China’s stock market wealth effect gradually appears.In this context, the study of stock market wealth effect becomes necessary. This paper attempts to build the evaluation system and to make empirical research for stock market wealth effect.First,outline the stock market wealth effects and further analyze the influence factors.These factors are divided into market factors and non-market factors.Market factors include market size,market efficiency and market structure.Market size and market structure are denoted by securities rate and stock market participation rate.Government actions and international influence make up non-market factors.The monetary policy-making and using are the presentation of government actions. Article uses the ration of stock market and the broad money supply (M2) to reflect the changing in monetary policy.Then try to build evaluation index system of the stock market wealth effect,attempting to quantify the stock market wealth effect for the evaluation. Respectively,GDP, total retail sales of social consumer goods,residents’savings,consumer confidence index are introduced into evaluation system. These indicators evaluate the stock market wealth effect from different sides of the size and impact.The paper conducts empirical research based on the evaluation index system according to the actual development of China’s stock market.To 2005-2009 years quarterly data as sample,establish error correction model to estimate China stock wealth effect size after data seasonal adjustment,stationary test,co integration test.By contrast, China’s stock market has weak wealth effect.The different economic development leads to difference in transmission mechanism. And the differences ultimately affect the wealth effect.Then further analyze the reason of differences and give recommendations of stock market development in China:the expansion of market size; optimization market structure;changing in regulatory approach.Finally,the article summarizes the main research findings,and gives the prospect of future research.The innovation of this paper includes the following two points:First,build evaluation index system of the stock market wealth effect. GDP, total retail sales of social consumer goods, savings, consumer confidence index are introduced into evaluation system.Second, use the error correction model to evaluate China’s stock market wealth effect.Through the establishment of error correction model, actual measure the size of China’s stock market wealth effect.Based on the results of the measure, further explore the cause of differences in stock market wealth effect.

Related Dissertations

  1. The True Estimations of China’s Unemployment and the Re-examination of Okun’s Law,F224
  2. Research of a Medium and Long-term Load Forecasting Method,TM715
  3. Methodology Study on Prediction and Determinants of Total Health Expenditures in China,R197.1
  4. A Study on the Cointegrating Relationship between R&D Input and Economic Grouth Based Cointegration Theory,F127
  5. Empirical Studies on Stock Market Wealth Effect and Its Non-symmetry,F832.51
  6. A Comparative Study in the Real Estate Market and the Stock Market at the Perspective of Wealth Effect,F293.35;F832.51
  7. Shanghai and Shenzhen stock market wealth effect and consumption demand,F832.51
  8. China 's stock market wealth effect of regional differences in study,F832.51
  9. Application of Economic System Based on Cointegration Theory,F206
  10. An Analysis on Wealth Effect of China Stock Market,F832.51
  11. High-resolution direction finding algorithm DBF,TN911.72
  12. The Long-term Impact Research of International Financial Crisis on Chinese High-tech Industry,F276.44;F831.59
  13. Chinese stock market development role in promoting consumer demand study,F832.5
  14. Study on Accuracy Analysis and Calibration of Parallel Double-Joint Cmm,TH721
  15. International crude oil tanker freight rates and the spot price of Relationship,F713.35
  16. The Empirical Research of Wealth Effect on Consumer Behavior,F832.51
  17. Impact of monetary policy on real estate prices Empirical Study,F293.3;F224
  18. Research on monetary policy and stock market volatility,F822.0;F832.51
  19. The Empirical Analysis of the Relationship between Stock’s Market and Monetary Policy,F832.51;F822.0
  20. RMB exchange rate on Chinese FDI inflows Empirical Analysis and Countermeasure Research,F832.6

CLC: > Economic > Fiscal, monetary > Finance, banking > China's financial,banking > Financial market
© 2012 www.DissertationTopic.Net  Mobile