区域经济增长对股票收益率影响的实证分析的中期报告-第一文库 | 海量文档资源下载与分享平台

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区域经济增长对股票收益率影响的实证分析的中期报告AbstractThisreportexaminestheimpactofregionaleconomicgrowthonstockreturnsusingempiricalanalysis.ThestudymakesuseofdataonregionalGDPgrowthratesandstockreturnsoflistedcompaniesinChinabetween2010and2018.Theresultssuggestthatthereisapositiverelationshipbetweenregionaleconomicgrowthandstockreturns.However,themagnitudeoftheeffectvariesdependingontheindustrysectorandgeographicregion.Specifically,thestudyfindsthattheeffectofregionaleconomicgrowthonstockreturnsismoresignificantamongcompaniesoperatingintheservicesectorthanthoseintheprimaryandsecondarysectors.Additionally,companieslocatedineconomicallydevelopedregionstendtoexperiencelowerstockreturnscomparedtotheircounterpartsinlessdevelopedregions.Thefindingsofthisstudyhaveimportantimplicationsforinvestorsandpolicymakersseekingtounderstandtherelationshipbetweenregionaleconomicgrowthandstockreturns.IntroductionTherelationshipbetweenregionaleconomicgrowthandstockreturnshasbeenasubjectofresearchformanyyears.Somestudieshaveshownthateconomicgrowthispositivelycorrelatedwithstockreturns,whileothershavefoundnosuchrelationship.Understandingtherelationshipbetweeneconomicgrowthandstockreturnsiscrucialforinvestorsandpolicymakersasitcanimpactinvestmentdecisionsandeconomicpolicy.ThisreportseekstocontributetothisareaofresearchbyconductinganempiricalanalysisoftheimpactofregionaleconomicgrowthonstockreturnsinChina.MethodologyToexaminetherelationshipbetweenregionaleconomicgrowthandstockreturns,thisstudymakesuseofsecondarydatafrompubliclyavailablesources.Specifically,thestudyanalyzedquarterlydataonregionalGDPgrowthratesandstockreturnsoflistedcompaniesinChinabetween2010and2018.ThestudyusedtheShanghaiStockExchangeCompositeIndex(SHCOMP)asaproxyfortheoverallstockmarketperformance.Additionally,thestudydividedthecompaniesintothreeindustrysectors:primary,secondary,andservice.Toconducttheempiricalanalysis,thestudyemployedpaneldataregressionanalysis.Thisanalysisenabledthestudytocapturethetime-seriesandcross-sectionalvariat