林业板块高联动性成因探究

股票的行业联动一直引起学术界和投资者的关注。文章从实体经济和股票市场两个分析林业板块股价联动性强的原因,并发现林业行业股价联动性强可能是由于林业类公司间业务关联性强、宏观经济形势影响林业板块表现以及林业板块机构持股数量少这三个原因引起的。本研究对我国资本市场的理论、实务和监管有重要意义。

Study on the Formation of Forestry Blocks of High Linkage

The stock’s industry linkage has been caused by the attention of the academia and investors.From the analysis of real economy and stock market,the paper analysizes the reason of forestry plate stock linkage,and finds that the forestry industry,strong stock price linkage may be due to high linkage of forestry companies,business association,the macroeconomic situation of the forestry sector performance,as well as forestry plate agency holding a small number.It is significant to China’s capital market theory,practice and regulation.