基于CountPanelData模型的证券投资基金持股偏好实证研究

Abstract

随着市场影响力的提高，我国证券投资基金的持股偏好日益成为最受市场关注的焦点之一。在借鉴相关研究文献的基础上，本文以2003年-2006年我国上市公司为样本数据，利用Count Pancl Data模型实证检验影响持有上市公司基金数的各种公司及股票特征，从而考察我国证券投资基金的持股偏好。

As the number of investment institutions grows, holdings preferences of China's stock mutual funds have received substantial research attention recently. Based on the related literature, this paper employs the Count Panel Data model to examine the factors that determine the number of mutual funds holding the shares of a particular listed company with the sample of listed companies in China from 2003 to 2006. The number of mutual funds that hold a particular company can be used as an indication of mutual funds’holdings preferences.