Study of Characteristic and Period of Communication and Electronics Industry in Chinese Securities Market
Purpose: This study aims to analyze the characteristics of communication and electronics industry in Chinese stock market and calculate the average periods of it. Design/methodology/approach: We use R/S analysis method to study the characteristics of communication and electronics industry in Chinese stock market, and use Matlab software and Eviews software to calculate some representative exponents of this industry. Findings: The results show that the probability distribution of the communication and electronics industry in the Chinese stock market is nearly non-normal distribution, but a partial distribution, showing a peak, thick tail, migraine and other features. Hurst exponent calculated shows that the communication and electronics industry in the Chinese stock market has obvious fractal characteristics, and does not follow a random walk assumption, but follows persistent trend. The average big circulation period is about 400 days; the average small circulation period is about 200 days. Research limitations/implications: We use R/S analysis method to study the characteristics including periods and venture.of communication and electronics industry in Chinese stock market. Practical implications: The average periods and related venture can give investors properly suggestions. Originality/Value: We use R/S analysis method and Matlab software and Eviews software to analyze the characteristics of communication and electronics industry in Chinese stock market which has barely been studied. The results unfold the characteristics of this industry and can give investors properly suggestions as well.
Key words: Stock market; Fractal; R/S analysis; Hurst exponent; Periods; Communication and electronics
Peters, E.E. (1991). Chaos and Order in the Capital Markets (pp. 1-8). New York: John WielySons Inc..
YANG, Xiaoguang (2003). The Complexity of the Financial System. Systems Engineering, (9), 1-4.
XU, Longbing, & LU, Rong (1999). R/S Analysis to Explore the Nonlinear of Chinese Stock Market. Forecast, (2), 59-62.
YANG, Huanjin, & WANG, Ying (2008). Situation, Problems and Countermeasure of Chinese Electronic Information Industry Development. Economics Management, 22(1), 1003-3890.
TU, Chunhui, & LI, Shuangjie (2002). Performance Analysis of Listed Companies in the Chinese Electronic Industry. Global Economy, (1), 61-69.
XU, Lu (2003). An Empirical Analysis on Electronic Industry Listed Companies Regarding to Listed Companies Ownership Structure and Operating Performance. Friends of Accounting, (6), 9-10.
LIU, Xiuqin (2004). The Application of Factor Analysis Method on the Performance Evaluation of Electronic Industry Listed Companies. Journal of North China University, (3), 67-70.
ZHANG, Wei, & HUANG, Xing (2001). R/S Empirical Analysis on Shanghai and Shenzhen Stock Market. Systems Engineering, 19(1), 1-5.
WU, Haihua, & LI, Daoye (2001). System Dynamics Analysis of Stock Market: An Example of Shanghai Stock Market.Modern Economic Science, 23(6), 70-76.
ZHANG, Bing, & XU Hui. Empirical Research on Fractal Characteristics of China Stock Market. Economics Management, (14), 63-69.
Fama, E.F. (1970). Efficient Capital Market: A Review of Theory and Empirical Work. Journal of Finance, 25(2), 383-417.
Mandelbrot, B.B. (1971). When Can Price Be Arbitraged Efficiently? A Limit to the Validity of the Random Walk and Martingale Models. Review of Economics and Statistics, 53(3), 225-236.
Mandelbrot, B. (1963). The Variation of Certain Speculative Prices. Journal of Business, 36, 394-419.
XU, Xusong, & CHEN, Yanbin (2001). Empirical Research on Nonlinear of China Stock Market. Quantitative and Technical Economic Research, 18(3), 110-113.
- There are currently no refbacks.
How to do online submission to another Journal?
If you have already registered in Journal A, then how can you submit another article to Journal B? It takes two steps to make it happen:
1. Register yourself in Journal B as an Author
Find the journal you want to submit to in CATEGORIES, click on “VIEW JOURNAL”, “Online Submissions”, “GO TO LOGIN” and “Edit My Profile”. Check “Author” on the “Edit Profile” page, then “Save”.
Go to “User Home”, and click on “Author” under the name of Journal B. You may start a New Submission by clicking on “CLICK HERE”.
We only use three mailboxes as follows to deal with issues about paper acceptance, payment and submission of electronic versions of our journals to databases: email@example.com; firstname.lastname@example.org; email@example.com
Copyright © Canadian Academy of Oriental and Occidental Culture
Address: 9375 Rue de Roissy Brossard, Québec, J4X 3A1, Canada
Telephone: 1-514-558 6138