我国上市公司风险收益关系的统计分析

选取以2006—2007年为分析期的98家A股上市公司的股票为研究对象,这些上市公司是截至1996年有较长交易历史的上市公司,并且引入资本资产定价模型（CAPM）,利用上证A股指数作为市场综合指数,通过回归分析方法对我国股市的风险收益进行统计分析。研究分析结果表明：沪市系统风险与收益率存在一定的正相关关系,但不是线性关系。

The Statistical Analysis on the Risk-return Relations of China's Listed Companies

Selecting the stocks of 98 A-share companies that are the ones having longer trade history till 1996 in the analysis time of 2006-2007 as the research objects, introducing CAPM（Capital Asset Pricing Model）, and using A-share index of SSE（Shanghai Stock Exchange）as composite index of market, this paper makes a statistical analysis on the risk and return of China’s stock market with regression analysis, and based on the results of the research analysis, points out that there is a certain positive correlation relation between system risk and return rate in Shanghai stock market, but not the linear relation.