bonds are the provinces with higher risk premia, or the provinces with greater volatility of risk premia, or the provinces … are not obvious in the provinces with lower risk premia, lower volatility of risk premia and less issued Chengtou bonds …, in the process of managing the Chengtou bonds, the government needs to focus on the provinces with high volatility of …

the abnormal returns and volatility changes of those component stocks. The empirical results show that, after the removal … volatility. To reduce the possible impact on volatility, the authorities may take the activity of margin transactions into …