The choice of the empirical method of stock market policy information response bias and the government behavior orientation
The event analysis of information policy response bias questioned this, that the use of "losers" and "winner" test is the microscopic information (in stock) the response bias, and macroeconomic policy information (the stock market) reaction bias is different. The auto correlation test and variance ratio test mean regression analysis, the stock market reaction to the deviation of government macro policy information, and the Shanghai Composite Index of government policy short-term insufficient reaction and long-term overreaction conclusion. At the same time, but also benefit the relationship between government behavior and stock market volatility test method for anomaly the fluctuation of points, in order to provide reference for government behavior in the stock market.
