影响股票价格的因素既有宏观经济状况,也有行业政策变动和个股财务数据好坏,然而国内外对股市研究结论则众说纷纭。本文在现有研究的基础上,从已研究的变量组成一个系统出发,研究股指与其关系,通过协整计量方法得出结论,从“三驾马车”角度形成政策建议。 Factors affecting the stock price both the macroeconomic situation, but also industry policy changes and individual stocks financial data is good or bad, but the domestic and foreign stock market research conclusions are different opinions. Based on the existing research, this paper starts with a systematic study of the variables that have been studied, studies the relationship between the stock index and the stock market, concludes the conclusion through the co-integration measurement method, and formulates the policy recommendations from the perspective of the troika.