Research On The Volatility Of Stock Returns Of Listed Companies In Internet Financial Concepts

As a new model of financial development,Internet finance experienced rapid developent,but the overall is not perfect,so the stock market volatility in the Internet financial industry may be relatively large.The research object of this paper is the stock return rate of listed companies of China's Internet financial companies,we analyze the fluctuations of stock market of China's Internet financial industry through the ARCH model family and then give the relevant policies and suggestions.This paper chooses the new type of Internet finance as the research object,as the development of the Internet financial industry is not mature enough and has not yet formed a clear plate segmentation,we select 26 Internet concept of the daily closing price of listed companies and the same period of the Shanghai and Shenzhen 300 index as a sample with period from 2014 to 2016.Among selected 26 Internet financial concepts listed companies stock,we select the Oriental wealth,flush and big wisdom three stocks as the three major Internet brokerage platform representatives;meanwhile,we select eight P2 P Internet platform concept stocks as another class.In the fourth chapter we process these two kinds of data separately,and then compared them with the whole sample data and the CSI 300 index in order to get the empirical research more targetedly and contrastively.This paper consists of five chapters,the first chapter is the introduction,firstly,it introduces the research background and significance;secondly,it summarizes the reviews of scholars' literature based on the Internet financial business model and the stock returns;lastly,it discusses the thinking framework and main content.,and points out the innovation and shortcomings of this paper.The second chapter is the related concepts and theories of Internet finance and profit rate,it introduces the theory of internet finance and stock return,and the related theories and methods of stock return analysis.The third chapter is the measurement model and sample description,itsummarizes ARCH model used in this paper,which provides theoretical support for the following empirical research.,this paper chooses 26 online stocks from 2014 to2016,with a total of 734 daily closing prices as sample data.The fourth chapter is the test empirical study of Internet financial concept of listed companies stock returns volatility,it analyzes the empirical results and reasons by establishing the ARCH family model.The fifth chapter is the conclusion and policy suggestion,based on the comparative analysis of the theoretical basis and the results of the empirical test,the author puts forward some specific measures from three angles and give some effective suggestions.