Research Of Behavior Of The Stock Price Volatility In The China's Stock Market

On the behavior of stock prices, at home and abroad have a lot of researches, but in the domestic stock price fluctuations for the acts did not give a clear definition, this article is based on this, giving China's stock market integrated description and analysis of evidence.For transactions on the stock market, in the end whether there is a change in the law to follow ? How to better understand and grasp the stock price changes ? stock price of the study is a consistent controversial issues, the focus of controversy for scholars. If there are laws to go by, this is what the law ? In the end is how to change ? If these issues are very good answer, this will be a step forward in the theoretical circle.Many studies attempt to answer that whether the stock price can be the basis of past prices to predict. But for the emerging mainland capital market, it is wrong to generalize, to the situation discussed.From December 19, 1990 China the establishment of the Shanghai Stock Exchangement and began trading on the stock so far, it more than 10 years of history, during the transaction and management system after numerous adjustments, a great development, but the market is not yet mature, The system still needs to be improved, the quality of investors and rational level needs to be further nurtured, In short, China's stock market as an emerging market with the Western great gap between the mature markets, the stock market to the developed countries against the backdrop of the Western theory of financial markets can adapt to China's stock market in the systematic study?Or a question. Therefore, the Chinese stock market stock prices of the research is conducted on the basis of this series. If the comparison clearly and accurately reveals the volatility of stock prices, which will promote academic progress, the Chinese stock market makes the study a theoretical basis and foundation.Research on China's stock market price behavior of in-depth understanding of China's stock market development, maturity, and investors to improve the investment decision-making, more effective management and control investment risks have important practical significance. Fluctuations in stock prices reflects the focus of the entire market and the overall economic situation, the changes in the system and change the behavior of investors in the stock price will get a clear reflection, The securities market is macroeconomic development of the "barometer", through analyzing stock information, research shares, in-depth study on the impact of price changes in the law, to strengthen macro-regulation and guide the healthy development of the stock market is important; The volatility of the research, design for the investment portfolio investors, stock pricing and risk management analysis and practice provided the basis for operation.This article is based on this, the research methods associated with the economics of investment, financial management and statistical aspects of the classic theory, Is mainly used econometric model of the statistics, the value of the stock assessment methods, basic analysis of the value of school use of methods and techniques of the school of technical analysis methods described volatility of the law. Meanwhile, in order to better able to clearly describe the rules of stock price volatility. Therefore, this pre-selection from the Shanghai and Shenzhen Composite Index and a number of units, ready to start the two-pronged empirical research. Index data will be used 18 years of the Shanghai and Shenzhen Composite Index for research samples and data will select stocks on the Shanghai Stock Exchange listed stock trading empirical research, theoretical research to confirm this conclusion.In this paper, the main point of innovation in the following areas:(1) integration of theory, the stock price volatility and reveal the law of description, come to such a conclusion "focus on transactions in the stock market, stock price subject to random fluctuations in the short term, medium and long-term Trend of movement ".(2) in research methodology, to China's stock market and stocks in Shanghai and Shenzhen Composite Index for the samples,as day for the interval, the dynamic use of empirical research methods to study the dynamic behavior of stock prices, coming to the corresponding conclusions.To sum up, this paper focuses on the volatility of the law of accurate statistical description of the domestic and foreign scholars on the basis of comprehensive use of various theoretical and empirical case studies China's stock market price fluctuations of the stock, At the same time using the corresponding mathematical models and statistical indicators of technical analysis, the Shanghai index and a representative of the prices of stocks and yield analysis and study, draw useful conclusions " China's stock market fluctuations in stock prices in the short term, is unpredictable, random fluctuations. And the medium and long term, stock price volatility can be expected. "...