论文部分内容阅读
一般来说,在市场股票全流通的前提下,可以运用指数来衡量股市系统风险,这也是部分国家采用的衡量股市成熟度的办法。但是,这种方法不适用于我国的股票市场,我国的股票市场最初建立是为了扶持国有企业,因此,具有中国特色的股票市场包含相当大比例的法人股、国有股等不流通的股票,所以在编制指数时,若将这些股票纳入其中,则会造成指数失真。
In general, under the premise of full circulation of market shares, indices can be used to measure the systematic risk in the stock market. This is also a measure adopted by some countries to measure the maturity of the stock market. However, this method does not apply to the stock market in our country. Our stock market was initially established to support state-owned enterprises. Therefore, the stock market with Chinese characteristics contains a large proportion of non-tradable shares such as corporate shares and state-owned stocks. Therefore, Index, if these stocks are included, it will cause the index distortion.