[1]赵景东,孙文婷,冯玉英.邮票投资与股票投资多元化问题研究 ——基于中国和英国的邮票价格指数研究[J].南京师范大学学报(工程技术版),2013,13(02):087-92.
　Zhao Jingdong,Sun Wenting,Feng Yuying.Research on Stamp Investment and Diversification for Stock Investment —Based on the Research of Chinese and British Stamp Price Indexes[J].Journal of Nanjing Normal University(Engineering and Technology),2013,13(02):087-92.
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邮票投资与股票投资多元化问题研究 ——基于中国和英国的邮票价格指数研究
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南京师范大学学报（工程技术版）[ISSN:1006-6977/CN:61-1281/TN]

卷:
13卷
期数:
2013年02期
页码:
087-92
栏目:
出版日期:
2013-06-30

文章信息/Info

Title:
Research on Stamp Investment and Diversification for Stock Investment —Based on the Research of Chinese and British Stamp Price Indexes
文章编号:
1672-1292(2013)02-087-06
作者:
赵景东1; 孙文婷2; 冯玉英1
1.南京师范大学数学科学学院,江苏 南京 210023
2.南京师范大学计算机科学与技术学院,江苏 南京 210023
Author(s):
Zhao Jingdong1; Sun Wenting2; Feng Yuying1
1.School of Mathematics Science,Nanjing Normal University,Nanjing 210023,China) (
2.School of Computer Science and Techmology,Nanjing 210023,China
关键词:
邮票指数; 股票; 投资组合; 分析
Keywords:
stamp index; stock; portfolio diversification; analysis
分类号:
F24
文献标志码:
A
摘要:
受英国SG100邮票价格指数启发,借鉴股票价格指数的建立方法,运用中国邮票互动网上提供的邮票收盘价和成交量计算出了中国邮票月度价格指数.在此基础上,将邮票价格指数的超额回报与股票价格指数的超额回报进行资本资产定价模型回归,结果显示中国邮票投资并不能为股票投资者提供多元化的可能,但英国邮票投资给中国股票投资者提供了多元化的可能,产生了超额收益,分散了风险.
Abstract:
We are inspired by British SG100 Stamp Price Index to build Chinese Stamp Price Index by ourselves.We make use of closing price and trading volume of stamps which are available online to calculate the monthly price indexes of Chinese stamps.The results of the Capital Asset Pricing Model regression of the monthly stamp index excess returns and the excess returns of stock indexes show that investing in Chinese stamp can’t provide portfolio diversification benefits for stock investors.Adding British stamps to Chinese stock portfolios can improve the investment performance of investors.

参考文献/References:

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备注/Memo

备注/Memo:
收稿日期:2013-03-25.
基金项目:南京师范大学回国留学基金(2012031XLH192).
通讯联系人:冯玉英,副教授,研究方向:金融统计.E-mail:fengyuying@njnu.edu.cn
更新日期/Last Update: 2013-06-30