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中文摘要：
近年来,DCC-MGARCH模型已经被成熟地运用到对一些金融市场间关系的研究中,运用DCC-MGARCH模型对可转债市场与股票市场间的动态相关系数进行研究,采用全局综合与局部分析的方法,刻画上述两金融市场间相关系数的动态时变特征,结果表明：采用DCC-MGARCH模型对可转债市场与股票市场间关系的研究是有效且可行的。
英文摘要：
In recent years,DCC-MGARCH model has been applied maturely in some studies about the relationship among financial markets.Convertible bond market is one of the few financial derivative markets in China,but the study on the relationship between convertible bonds market and other financial markets,especially the relationship with the stock market,is relatively rare.Therefore,this paper firstly uses the DCC-MGARCH model to analyze the dynamic correlation coefficient between convertible bond and stock markets,and applies the global and local analysis methods to accurately depict the dynamic time-varying characteristics of the correlation coefficient between the two financial markets,which shows that the DCC-MGARCH model is effective and feasible in the study of the relationship between the stock and convertible bond market.
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