Study on the stock markets of China: based on Shanghai composite index and dividend index

Li Chang-lin; Chen-Min

doi:10.7523/j.issn.2095-6134.2008.5.016

Journal of University of Chinese Academy of Sciences >

2008 , Vol. 25 >Issue 5: 677 - 681

DOI: https://doi.org/10.7523/j.issn.2095-6134.2008.5.016

Study on the stock markets of China: based on Shanghai composite index and dividend index

Li Chang-lin ,
Chen-Min

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1School of Mathematical Sciences of the Grudate University of Chinese Academy of Sciences, Beijing 100049, China;
2 Academy of Mathematics and Systems Science, Chinese Academy of Sciences, Beijing 100080, China

Received date: 1900-01-01

Revised date: 1900-01-01

Online published: 2008-09-15

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Abstract

Based on the Shanghai dividend index and Shanghai composite index, the paper explores the bubbles of Shanghai stock market empirically by using the method of unit root and cointegration. The empirical result shows that our stock markets have bubbles (including irrational bubbles) obviously from 2005.

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Li Chang-lin , Chen-Min . Study on the stock markets of China: based on Shanghai composite index and dividend index[J]. Journal of University of Chinese Academy of Sciences, 2008 , 25(5) : 677 -681 . DOI: 10.7523/j.issn.2095-6134.2008.5.016

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