全部 标题 作者
关键词 摘要


Analysis of the Differences and Linkage between Chinese and American Stock Markets

DOI: 10.4236/ajibm.2018.83047, PP. 700-709

Keywords: Stock Market, Diversity, Linkage, China, The United States

Full-Text   Cite this paper   Add to My Lib

Abstract:

This paper compares the stock markets of China and the United States from several aspects, such as the first class IPO market mechanism, secondary security market mechanism, and the market supervision mechanism. Overall, China’s stock market lags behind the United States stock market. Then, this paper expounds the transmission channel of stock market linkage and the related theory of stock market linkage. Through the trade between countries, the economic spillover effect, the gradual increase of transnational listing, and the globalization of stock companies, the paper explores the related ways of Chinese and American stock markets from four aspects, and tries to analyze the formation mechanism of the linkage between China and America stock markets in four channels: International trade, financial capital, policy and expectation. Finally, a conclusion is drawn: With the development of China’s economy and opening of the stock market system, the stock market linkage between China and the United States is increasing gradually.

References

[1]  Dai, M.F., Hou, J., Gao, J.Y., Su, W.Y., Xi, L.F. and Ye, D.D. (2016) Mixed Multifractal Analysis of China and US Stock Index Series. Chaos, Solitons and Fractals: The Interdisciplinary Journal of Nonlinear Science, and Nonequilibrium and Complex Phenomena, 268-275.
[2]  Yang, C.P. and Zhou, L.Y. (2016) Individual Stock Crowded Trades, Individual Stock Investor Sentiment and Excess Returns. North American Journal of Economics and Finance, 38, 39-53.
https://doi.org/10.1016/j.najef.2016.06.001
[3]  Huang, Y.-J. and Bacon, F.W. (2009) Can the US Stock Market be Shanghaied?: Evidence of the Impact of China’s Emerging Stock Market. Management Research News, 325.
[4]  Anonymous (2009) Stock Profiler. US: Stock Profiler. US Profiles W2 Energy Inc., China Coal Energy Co., Ltd., Novo Energies Corporation, & The Tirex Corporation. M2 Presswire, 125-127.
[5]  Gavin, M. (1989) The Stock Market and Exchange Rate Dynamics. Journal of International Money and Finance, 8, 181-200.
https://doi.org/10.1016/0261-5606(89)90022-3

Full-Text

comments powered by Disqus