摘要
价格作为买卖双方最重要的信号,是市场的灵魂。股价受系统因素与非系统因素的共同复杂作用,简单地应用线性回归模型是有失考虑的,客观上应该突破线性框架,将其视为一个非线性系统。在影响股价的因素方面,公司层面之外的如市场制度、市场环境、投资者心理、投资者喜好等都影响流通价格的形成,且作用复杂,具有很强的随机性、时变性、交互性。
As the most important signal for buyers and sellers, price is the soul of the market. As the stock price is affected by joint complex systematic factors and non-systematic factors, it is thoughtless to simply apply linear regression model. Objectively, the linear frame shall be broken through and it shall be viewed as a non-linear system. In the regard of influencing factors on the stock price, elements beyond company level, such as market mechanism, market environment,investor psychology and investor prefer- ence, all influence the formation of circulation price. Moreover, their functions are complex, random, time- dependent, and interactive.
出处
《吉首大学学报（社会科学版）》
CSSCI
北大核心
2014年第1期90-94,共5页
Journal of Jishou University(Social Sciences)
基金
国家自然科学基金资助项目(71173203)
