对我国医药行业股市波动性的实证研究

摘要

证券投资由于其高风险高收益的特征,一直受到社会各界的高度关注,行业风险是投资者进行投资决策要考虑的重要因素之一.在我国乃至世界证券市场范围内,医药行业一直被认为是高防御性板块.行业价格指数的波动性常用来衡量行业风险,通过对上证综指及医药行业、房地产行业、钢铁行业、贸易行业和计算机行业价格波动性分析,研究发现医药行业相比其它几个行业在股票市场剧烈震荡期间具有更强的防御能力,并由此给出相关的政策建议.%Securities investment has been under high attention from society due to its high-risk and high-yield characteristics, Industry risk is one of the main factors for investors when making investment decision.Within the scope of the stock market in our country and the world, the pharmaceutical industry has been regarded as highly defensive industry, Vola-tilities of industrial stock price indices and yields are often used to measure the industrial risks.This passage analyzed China's stock market prices and vola-tilities of pharmaceutical industry ,real estate industry, iron industry, trade industry and computer industry, then found compared with other industries, pharmaceutical industry have stronger defense capabilities during market volatility,And give the relevant policy recommendations.