The Empirical Research on the Effect of Investor Sentiment for the Stock Market of China Based on Stock Index Futures

In: Business and Management

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Words 1134
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Finance 金融, 2012, 2, 151-154 Published Online July 2012 (

The Empirical Research on the Effect of Investor
Sentiment for the Stock Market of China Based on Stock Index Futures
Yongquan Pan, Zi Lin
Dongling School of Economics and Management, University of Science and Technology Beijing, Beijing
Received: Feb. 6th, 2012; revised: Feb. 26th, 2012; accepted: Mar. 4th, 2012

Abstract: This paper discusses the affect of stock index futures for investor sentiment’s measure and study if the new indicator has better interpretation to stock returns than before. Finally, the reflection of the negative emotions on the market is studied by this indicator.
Keywords: Investor Sentiment; Stock Index Futures; Stock Return


收稿日期:2012 年 2 月 6 日;修回日期:2012 年 2 月 26 日;录用日期:2012 年 3 月 4 日



1. 引言







自从 2010 年以来,股指期货市场出现,投资者可以














格与价值之间的偏离 。
Copyright © 2012 Hanspub








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