An Empirical Study On The Influence Of The "One Belt And One Road" Initiative On The Stock Price Of China's Listed Companies

The major initiatives for building the "Silk Road Economic Belt" and the "21st Century Maritime Silk Road" were proposed by Xi Jinping in September and October 2013.These two initiatives are collectively known as the "One Belt and One Road" and the "One Belt and One Road Initiative." Since the initiative was initiated,the initiative has been widely followed by the world.The "Belt and Road Initiative" is an epochmaking significance as an important strategy for China's opening up to the outside world in a new era.The "One Belt and One Road" initiative is related to China's destiny because of its important strategic position and importance to China's economy and world economic development.Since the reform and opening up,China's economy has developed at a high speed and has created a Chinese miracle.China The economy has contributed an indelible force to the development and stability of the world economy.With the development of our country's economy,the corresponding science and technology and financial development have led to financial markets.Affected by the economy,the financial market will also have corresponding fluctuation characteristics.This article mainly studies the stock price volatility theory,the influencing factors of stock price volatility and its characteristics and the empirical study of the stock price volatility of the “Belt and Road”-related listed companies to verify whether the “One Belt and One Road” initiative affects the stock price volatility of related listed companies.The research methods of this paper mainly include literature investigation and event research.Through research,the main conclusions of this paper are that the "One Belt and One Road" policy information has an impact on the stock price volatility of the "Belt and Road" concept,and the policy effect is significant.In general,the introduction of policy events has a certain role in promoting the development of the concept of “lead the road”.Most of them are good news,so they can generate positive investment returns in the short term.The "One Belt and One Road" concept company showed different reactions under the influence of different events.Through the calculation of the company's excess return rate in the “One Belt and One Road” concept company event window,it is found that the “Belt and Road” concept company does not always have excess returns during the research period.These indicate that under different market conditions,different industries the reaction is not the same.