Systematic Analysis for Violent Fluctuations of Stock Price: A Case Study of Technological Enterprise

Stock price is usually regarded as an index reflecting the basic value of an enterprise, and its fluctuations is contributed by many factors. However, violent fluctuations of stock price may confuse people's value judgment and decision-making, especially for technology-based enterprises in era of new technological revolution. A systemic framework is demonstrated to explore the joint effect of multiple factors which trigger the abnormal fluctuation of stock price. One of Listed Companies on GEM of China is selected for case study based on the method of fuzzy set qualitative comparative analysis (fsQCA). The result shows that technology & management is a slow variable in China, and the changes of Chinese stock market are mainly affected by policy and speculation, which is the main causes of stock price bubbles. Therefore, future research can be carried out to proving the servitude effect of technology & management on stock price.