沈阳工业大学学报（社会科学版）2016，Vol.9Issue(6)：525-531,7.DOI:10.7688/j.issn.1674-0823.2016.06.07
沪港通背景下我国内地股市和香港股市联动机制研究∗
Research on linkage mechanism between mainland stock market and Hongkong stock market in China under background of Shanghai-Hong Kong Stock Connect
摘要
Abstract
The measures of deepening the reform of financial system, advancing the financial innovation, and promoting the market-oriented process of interest rate and exchange rate, etc., are proposed on the Eighteenth Congress of CPC. As an important international financial center, Hong Kong has become more and more closely in the economic and trade cooperation with the mainland China, after the opening of Shanghai-Hong Kong Stock Connect in 2014 . By using the method of combining theoretical analysis and empirical analysis, the trade, investment and connecting mechanism of listing between Hong Kong and the mainland stock market are analyzed. Shanghai Composite Index, Hong Kong Hang Seng Index and the state-owned enterprises index are taken as sample. ADF test, Johansen co-integration test and Granger causality test are carried out of different variables by econometric method. The strengthening of linkage effect and the mutual influence degree between mainland stock market and Hong Kong stock market after the opening of Shanghai-Hong Kong Stock Connect are completely validated. The aim is to provide reference for the government to formulate policies, suggestions for investors to make investment decisions, and recommendations to promote the healthy and harmonious development of the two stock markets.关键词
沪港通/内地股市/香港股市/联动机制/ADF检验/Granger检验/Johansen协整检验Key words
Shanghai-Hong Kong Stock Connect/mainland stock market/Hong Kong stock market/linkage mechanism/ADF test/Granger test/Johansen co-integration test分类
管理科学引用本文复制引用
罗丹程,彭颜颜..沪港通背景下我国内地股市和香港股市联动机制研究∗[J].沈阳工业大学学报（社会科学版）,2016,9(6):525-531,7.基金项目
辽宁省社会科学基金资助项目(2017lslktyb-135)。 （2017lslktyb-135）
