ABSTRACT
Mainland of China warrants market is very rapid pace, from the August 2005 issue of warrants since the first one, in less than a year, the Shanghai and Shenzhen warrants market turnover had ranked second in the world market has leapt to the world of warrants the second largest warrants market. China's warrants market in the rapidly growing but also exposed many problems with the mature markets still lags far behind.
Warrants as derivative products of its underlying stocks, in theory, there is an interactive link with the underlying stock, warrants issued on the spot market would produce a certain extent. In this paper, the basic foundation, combined with my warrant market reality, through its underlying warrants CWB1 SAIC is the price of shares of Shanghai Auto Correlation Analysis, conclusions can be drawn line, and put forward policy recommendations.
Key words: Warrant， Shanghai Automotive， SAIC CWB1， Empirical Study
