林业经济
林業經濟
임업경제
Forestry Economics
2012年
8期
105~107
,共null页
林业板块 联动 市场模型
林業闆塊 聯動 市場模型
임업판괴 련동 시장모형
forestry; stock synchronicity; marret model
对Morck（1999）论文中采用的方法进行改进,利用线性回归方法,以拟合系数R2作为个股股价联动性的标准,计算个股与市场及行业股票的联动性。回归结果显示,林业股所处一级行业农林牧渔业股价联动水平高于整个市场的平均水平;而林业作为二级行业,其联动系数同样处于较高水平。
對Morck（1999）論文中採用的方法進行改進,利用線性迴歸方法,以擬閤繫數R2作為箇股股價聯動性的標準,計算箇股與市場及行業股票的聯動性。迴歸結果顯示,林業股所處一級行業農林牧漁業股價聯動水平高于整箇市場的平均水平;而林業作為二級行業,其聯動繫數同樣處于較高水平。
대Morck（1999）논문중채용적방법진행개진,이용선성회귀방법,이의합계수R2작위개고고개련동성적표준,계산개고여시장급행업고표적련동성。회귀결과현시,임업고소처일급행업농림목어업고개련동수평고우정개시장적평균수평;이임업작위이급행업,기련동계수동양처우교고수평。
Based on Roll （1988）＇s information disclosure assumption, this paper focuses on the effect of analyst cov erage on stock price synchronicity in forestry through R.2 estimation method, Results show that, as with forestry market, increase in analyst coverage is positively correlated with the disclosure of firmspecific information, The larger the analyst coverage is, the weaker the synchronicity effect. When it comes to the whole stock market, in creasing analysis coverage also benefits the diffusion of public information. The larger the analyst coverage is, the stronger the synchronicity effect.
