The Empirical Study On The Impact Of The Monetary Policy To The Stock Yields Of Commercial Banks In China

As a important part of the macroeconomic,the monetary policy has a significance effect on the economy society.The central bank adjusts the entire index to control the condition of economy by using different tools of monetary policy.Besides,the banks,a industry which can easily be affected by monetary policy,will shows the influence from policies not only on the daily management,but also on its prices of stock.Theoretically,the banks are main way to express the monetary policy to the society,and the banks in stock market are also high weight part in our market.The monetary policy shows its affect on the business industry and individuals by effecting the banks' management.This article studies the different influence of the reserve of deposit and the operation on open market to the yield of the bank stock,along with the different effects on large bank and small ones.The conclusion is the reserve of deposit can give much more effects on bank than the operation on open market and the banks in small size are more sensitive to the reserve of deposit than big ones.In order to increasing the efficiency of monetary policy and benefiting the bank management,the article gives out several suggestions on the monetary policies,the operation of banks and the construction of stock market.