Research And Analysis,"the Middle Reaches Of The Yangtze River City Group Development Plan" Listed On Company's Share Price

State Council on April 5,2015 approved the "middle reaches of the Yangtze River City Group development plan," and noted that the plan to promote the middle reaches of the Yangtze River City Group development plan for speeding up the overall rise of the central region,relying on the golden waterway to promote the Yangtze River economic belt development and promoting regional integrated development,explore new urbanization of great significance.The introduction of the policy will provide an important opportunity for the development of regional economic development,and will also impact Hubei,Hunan and Jiangxi provinces listed company's share price.To study the policy for the independent effects of the region's stock price,the selected area in this article qualifying its 137 listed companies in the period from 16 March 2015 to 20 April 2015 the price fluctuation of 25 trading day research,and focus on April 5 to April 20 the price fluctuation of 10 trading days.Reading through the literature shows that the event analysis is a research method commonly used in the financial sector,its core research in the calculation of abnormal returns by this method can be found after the occurrence of an event abnormal returns harvest samples,the method in the country foreign securities market research are widely used,it is a relatively mature and objective research methods.The empirical analysis section of this article to take the event analysis.Through this empirical analysis can be obtained over a period of observation,"the middle reaches of the Yangtze River City Group Development Plan" proposed for the region,stocks had a positive effect.Further comparison available on the regional differences,Hunan region listed companies to get the most positive effect,Jiangxi region listed companies to obtain a negative effect;the difference in the industry,the event for electronic information,transportation,trade finance,utilities and Property construction industry exists positive effect,for the pharmaceutical and biological animal husbandry and fishery industry,there is a negative effect;the time difference,in general,the listed companies in the first few days after the event to get more positive earnings.Impact of policy factors on the stock market has been the focus of the market.By analyzing the policy hot spots,"the middle reaches of the Yangtze River City Group Development Plan" concluded,first,the market for policy feedback shorter,10 days after the policy positive role in promoting the share price almost disappeared;the second is only a part of the policy involved in the industry will be harvested in the short term rise in stock prices,investors need to be cautious identification.