上海B股市场系统性风险及投资机遇分析

运用单因素模型,选取上海证券交易所中同时兼具A、B股、且具有行业代表性的12家上市公司作为研究样本,对比分析上海A、B股市场系统性风险,结果显示:样本期内上海B股市场的系统性风险远高于A股市场,这为中小投资者投资B股提供了便利。同时,对目前关于上海B股市场前途的主要战略构想及其可能带来的投资机遇进行深入分析,结果发现:上海B股市场未来无论是选择改革还是选择发展,都将为投资者带来巨大的投资机遇。

Shanghai B share market systematic risk and investment opportunity research

The total of 12 listed companies in Shanghai Stock Exchange that both have A and B stock simultaneously and also have industry repre-sentative are selected as the research samples.Using the single-factor model,the systemic risk is analyzed comparatively between the Shanghai A and B stock market.The empirical results show that the systemic risk of the Shanghai B stock market is much higher than that of the Shanghai A stock market in the sample period,this situation benefit small investors to invest in the Shanghai B stock market. At the same time,two main kinds of strategic thinking about the future of the Shanghai B stock market and the investment opportunity brought by them possibly are analyzed in-depth.The results show that a tremendous investment opportunity will be taken to those investors in the Shanghai B stock market,regurdless of reform or development to be chosen in the future.