论文部分内容阅读
综合海外市场股指期货推出时的经验,我们发现统一规律:股指期货上市前涨,上市后跌,但股市长期运行趋势不变,权重股在推出前能够获得超额收益。
Based on the experience of the introduction of stock index futures in overseas markets, we found the same pattern: stock index futures went up before the listing and fell after the listing. However, the long-term trend of the stock market remained unchanged and the heavyweights could obtain excess returns before the launch.