| 摘要 | 第1-5页 |
| Abstract | 第5-6页 |
| 中文详细摘要 | 第6-17页 |
| 1. Introduction | 第17-23页 |
| ·China unique phenomenon increased the information complexity | 第17-18页 |
| ·Political connection effect– dependence in micro level | 第18页 |
| ·Univariate dependence of stock market – dependence in macro level | 第18-19页 |
| ·Research Question | 第19-20页 |
| ·Methodology | 第20-21页 |
| ·Added value | 第21页 |
| ·Paper structure | 第21-23页 |
| 2. Literature review | 第23-42页 |
| ·Challenges in existing financial studies | 第23-25页 |
| ·Question from financial crisis | 第23-24页 |
| ·“Economics needs a scientific revolution” | 第24-25页 |
| ·Complex information and data analytics | 第25页 |
| ·Information diffusion and stock market reaction | 第25-30页 |
| ·Study on different information source and stock market | 第25-28页 |
| ·Aggregated information from stock analyst | 第28-29页 |
| ·Information diffusion in Stock market | 第29-30页 |
| ·China characteristic information in stock market | 第30-35页 |
| ·Political connection and stock performance | 第30-33页 |
| ·Real estate market and stock market dependency | 第33-35页 |
| ·New data analytics tools | 第35-42页 |
| ·Pairwise correlation and multivariate dependence | 第35-38页 |
| ·Agent-based modelling | 第38-42页 |
| 3. Political connection and SOEs stock performance | 第42-55页 |
| ·Characteristics of China SOEs and political connection | 第42-44页 |
| ·Literature and Hypothesis | 第44-46页 |
| ·Definition of political connection and measure of connection level | 第44-45页 |
| ·Political connection and external finance | 第45页 |
| ·SOEs political connection and corporate profitability | 第45-46页 |
| ·Political connection and cost of equity capital | 第46页 |
| ·Political connection and stock return | 第46页 |
| ·Data and Methodology | 第46-49页 |
| ·Empirical result | 第49-53页 |
| ·Conclusions | 第53-55页 |
| 4. Stock analyst recommendation and stock reaction with different political connection | 第55-72页 |
| ·Early research on political connection with stock analyst | 第55-56页 |
| ·Data and methodology | 第56-57页 |
| ·Empirical result | 第57-68页 |
| ·Whole sample | 第57-61页 |
| ·“Strong Buy”sub-sample | 第61-63页 |
| ·“Buy”sub-sample | 第63-65页 |
| ·“Hold”sub-sample | 第65-66页 |
| ·Different information type | 第66-68页 |
| ·Conclusion | 第68-69页 |
| ·Future work directions | 第69-72页 |
| 5. Non-liner univariate dependency of stock, house and gold market | 第72-86页 |
| ·Equity, house and gold market | 第72页 |
| ·date and methodology | 第72-76页 |
| ·Empirical result | 第76-84页 |
| ·Conclusions | 第84-86页 |
| 6 Agent-based simulation with stock and housing market dependence | 第86-100页 |
| ·Background of China real estate sector | 第87-88页 |
| ·Literatures and market characteristics | 第88-90页 |
| ·Model settings | 第90-94页 |
| ·Parameters of agents | 第90-92页 |
| ·The land market | 第92-93页 |
| ·The house market: | 第93-94页 |
| ·The stock market: | 第94页 |
| ·Empirical result | 第94-98页 |
| ·Conclusions | 第98-100页 |
| 7 Conclusions | 第100-103页 |
| ·Main findings | 第100-101页 |
| ·Contributions | 第101-102页 |
| ·future work directions | 第102-103页 |
| References | 第103-118页 |
| Research activities | 第118-120页 |
| Appendix | 第120-137页 |
| Appendix1: Daily t- test of“Strong Buy” | 第120-121页 |
| Appendix2: Daily t- test of“Buy” | 第121-123页 |
| Appendix3: Daily t- test of“Hold” | 第123-124页 |
| APENDEX 4: R codes for H and cross-corralogram | 第124-129页 |
| APENDEX 5: R codes for W, F and dependogram | 第129-134页 |
| APENDEX 6: R code for pre-whitening | 第134-135页 |
| Appendix 7: Part of Matlab codes of artificial market | 第135-137页 |
| Acknowledgements | 第137-139页 |
