| 摘要: |
| 股票市场平均市盈率太高意味着存在股价泡沫,发生金融危机的可能性增大。为了分析证券交易税对股市泡沫是否有抑制作用,选取出于抑制股市泡沫目的而对证券交易税税率进行的两次调整,采用上海证券市场A股的数据,通过描述性统计和单因素方差分析比较调整前后的市盈率,发现证券交易税对抑制股市泡沫有显著影响,这种影响在短期内特别明显。政府可以根据市盈率水平来调整证券交易税税率,使投资者对证券交易税政策形成明确的预期,起到减少过度投机的作用。 |
| 关键词: 证券交易税 股票市场 泡沫 市盈率 方差分析 |
| DOI： |
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| Can Securities Transaction Tax Inhibit the Stock Market Bubbles——An Empirical Study Based on Chinese Stock Market |
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YAO Tao,SONG Li-li
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| Abstract: |
| The high average price earning ratio implies the existence of the stock price bubbles in stock market and increases possibility for financial crisis.In order to analyze whether securities transaction tax has the inhibitory effect on the stock market bubbles,we selected the two adjustments of securities transaction tax for inhibiting stock bubbles,used the data of Shanghai A-share and compared PE ratios before and after adjustment by descriptive statistics and single factor variance analysis,the ... |
| Key words: securities transaction taxes stock market bubbles price earning ratios variance analysis |
