以下为句子列表：
英文: This study, based on Shanghai Stock Price Index volatility, reveals that volatility of profit margin on the last trading day of a month is significant higher than the mean return of other days, which indicates a marked turn-of-the-month-effect in the mark
中文: 摘要本文以上证指数为研究对象，对股票市场换月效应与月末效应进行研究后发现，指数在月末最后一个交易日收益率波动率显著大于月平均收益率波动率，上证指数收益率存在显著的换月效应。
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