Variable | Variable declaration | Variable identifier |
Dependent variable |
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The stock index returns | The weekly closing prices of CSI 500 index to calculate | ZY |
Explanatory variable |
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Total funds raised | The ratio of weekly the IPO financing amount to the negotiable market cap | TFR |
Control variable |
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Leading macro-economic boomimg index | The weekly growth rate of leading macro-economic boomimg index | LMBI |
Net currency supply | The growth rate of the people’s bank of China net currency supply peer week | NCS |
Foreign exchange reserves increment | The growth rate of the foreign exchange reserves increment peer week | FERI |
Market turnover | The market turnover of the stock market peer week | MTO |
Dummy Variable |
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CSI 500 index yield sign | when the ZY > 0 the DUM equal 1, other than the DUM equal 0 | DUM |