Dynamic Analysis to the Aggregate Scale of Individual Investment in the Stock Market from Macro-aspect in China
Most of the researches on personal investment are from two aspects. One is from the micro-aspect; it mainly discusses the personal behaviors of investment and the single stock pricing. Another is from macro-aspect; it usually discusses the relationships of economy development and the development of the whole stock market. However, there are little papers discuss the correlation of development of economy and the aggregate individual investment in the stock market, small and important part in the whole stock market. Further, the positive papers discussing the relationships of macro-factors and amount of aggregate individual investment, has less been studied in China. This paper is to explore the correlation of them. After positive dynamic analysis, we conclude that: the aggregate individual security investment in Chinese stock market was seldom influenced by macro-factors prior to reaching some critical value. And after surpassing the critical value of amount of the whole stock market, the correlation among scale of stock market of individual investment and GDP development, number of gradates from high educational institutes as well as income of urban inhabitants in China, are weak.
Individual Investment Stock Market Macro-Factors Positive Analysis China
Wang Jiping
School of Management and Economics, Wuhan University, Hubei, China
国际会议
北京
英文
2007-11-01（万方平台首次上网日期，不代表论文的发表时间）