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Research on the Relationship of Bank Industry's Stock Price and Trading Volume with Panel Data Model

Panel data becomes the main data vector with the development of the information technology. The panel model has been applied to many fields such as economics, management and science. In the panel fixed effects regression model, explanatory variable is a constant but the interception changes according to the individuals. Relationship between trading volume and price of stock is not only a way to understand the structure of financial market, but also an effective way to study the arbitrage opportunities and effectiveness of market. In this paper, we take the stock of banking industry as an example, using the fixed effects regression model to analyse the relationship between quantity and price of the stock. It is concluded that the volume fluctuation of stock has significant influence on the price of the stock. As each additional unit of volume of banking stocks is increased, stock prices will increase by 0.003377 units. It shows that the stock market trading volume is the internal driving force of stock price. Trading volume directly reflects the relation of supply and demand in stock market, and to some extent, it determines the trend of the price changes. At last it is found the panel fixed effects model is an effective tool to analyze the relation between trading volume and price of stock.