Researches on relationship between investments in fixed assets and market performance in telecommunications industry—A research based on panel data from the 31 provinces and cities

In order to study the relationship between investments in fixed assets and market performance, STATA software to analyze Non-equilibrium panel data from 31 provinces and cities was proposed. The result is that, the relationship between investments in fixed assets and market performance is inverted U-shaped, too much investment in fixed assets is useless for market performance. We also found that fixed telephone subscribers pairs contribute to the market performance, while the contribution from mobile telephone subscribers and the scale of internet users is not enough.