Someone took an inappropriate use of words on my part and tried to blow it into a major controversy. 有人不适当地引用我的话,想借此把事情闹大。
The result proved that there is significant abnormal return in announcement day no matter what the right offer price is higher or lower and there is significant different reaction between the higher price and the lower price. 实证结果表明无论配股价格偏高或者偏低,配股公告均在公告的当天对股票价格产生了显著的负超额收益率,并且配股价格偏高和配股价格偏低时的公告效应存在显著差异。
We take abnormal return as the main topic of this paper. 本文以中国股票市场异常收益为主要研究内容。
Study of Holistic Listing Stocks 'Abnormal Return and Its Influencial Factoes 整体上市股票超额收益率及其影响因素研究
The results show that suppliers have significantly negative short-run abnormal return. 研究结果显示供应商有明显的负向短期异常报酬。
Case study on transaction performance analyses the characters of abnormal return distribution of M& A companies and target companies. 通过交易绩效案例研究,分析了并购公司及目标公司超额收益分布的特征。
After that, this paper use Cumulative Abnormal Return method and financial indicator method respectively to analyze the performance of the corporate restructuring. The last section of the paper is the analysis of the empirical study results and my own policy advices. 通过使用累积超额收益法和财务指标分析法对ST上市公司资产重组的绩效进行了实证研究,最后对实证的结果进行了分析从而提出了与之相关的政策建议。
The paper makes an empirical analysis on the restructuring performance of Special Treatment corporate ( hereinafter referred to as ST corporate) in Chinese securities business by using abnormal return method and financial indicator method. 本文采用超额收益法与财务指标法对中国证券市场中的特别处理公司(以下简称ST公司)重组绩效进行了实证研究。
Uses cumulative abnormal return and multi-regression models; 运用累计超额收益和多元回归分析模型;
On these bases, we put forward research hypothesis and confirm research model with application of the Cumulative Abnormal Return method. 在此基础上,提出了研究假设并运用超额收益法确定了研究的模型。
The market exists overreaction, and contrarian investment strategy can produce abnormal return; 中国股市存在过度反应现象,即反转投资策略可以战胜市场;
This paper empirically analyzed the effect of the cash dividend and stock dividend on stock price through Cumulative Abnormal Return ( CAR) method. 本文利用累计超常收益率方法,从实证角度分析了上市公司派发现金股利和股票股利对股票价格的影响。
The Analysis of Stock Cross-section Abnormal Return and Investor Behavior 股票横截面收益异常与投资者行为研究
It also studies the relationship between herding behavior and stock characteristics, such as age, value of circulation stock market, abnormal return and financial performance. 并采用分组比较以及回归分析的方法研究了基金的羊群行为与股票上市年龄,流通股市值,股票超常收益(同期、前期及后期)以及财务表现等特征之间的关系。
The information used by insider was actually essential and the insiders obtained large abnormal return. 内幕交易者所利用的信息确实是重大的并且都获取了正的超常收益。
First of all, we examine whether issuance of convertible bond bring abnormal return to company by event study. 首先,我们用事件研究法检验可转债的发行宣告是否会给公司带来异常收益。
Investors who use value investment strategy and small firms strategy can obtain abnormal return in market; 价值投资策略和小公司策略在中国股市都可以获得超额收益;
However, provision for impairment of intangible assets has no significant relationship with cumulative abnormal return. 然而,无形资产减值准备与累计超额收益率并没有显著的线性关系,与预期不符。
In addition, the author use regression analysis to get the some other factors that influence accumulated abnormal return. 另外,本文还通过回归分析得到了影响累计异常收益的部分因素。
The paper uses both qualitative analysis and ration analysis to test market efficiency and abnormal return in the market. 文章运用定性与定量相结合的方法,对中国股市的有效性及超额收益的存在性进行了检验。
This implies that investors cannot outperform the market for any abnormal return by utilizing the tested trading strategies. 这意味着,投资者不能通过利用测试交易策略来获得超越任何异常的市场报酬。
Fourthly, calculating the abnormal return ratio and the cumulative return ratio. 第四,计算超额收益率与累积超额收益率。
The empirical study adopts two methods: cumulate abnormal return ( CAR), and linear regression method. 本文的实证研究采用了两种方法:累计超额报酬率法(CAR法)和线性回归法。
Cumulative abnormal return in capital market is proportional to the earnings forecast error. 此外,资本市场的累计异常回报与盈利预测误差成正比。
In the last part of paper, the author puts forward corresponding suggestion about controlling abnormal return. 最后,就抑制中国股票市场超额收益这一问题,文章从以上四个角度提出了相应的政策建议。
The paper finds that the long-term abnormal return for Chinese listed firms that conducted private placements is significantly negative. 本文发现我国上市公司定向增发后股价长期异常收益率显著为负。
We take abnormal return as the main topic of this paper. On the basis of summarization of foreign and domestic research about security market and the Efficient Market Hypothesis, the paper discusses the existing and cause of formation of abnormal return in Chinese stock market. 本文以超额收益为主要研究内容,在概括和总结国内外证券市场有关研究和对有效市场假说等相关理论进行分析和梳理的基础上,对中国股票市场超额收益的存在及成因进行了探讨。
When the sample period is expanded, number of trades and average abnormal return raise. 当扩展样本期再次模拟交易时,交易次数和超额收益率都有增加。
Using the Buy-and-hold abnormal return, Cumulative abnormal returns and Fama-French three-factor model as three indicators constant, by comparing the approval system and approval system under the IPO pricing efficiency, to illustrate the affection of the Stock Offering System reform on the efficiency of IPO pricing. 采用了买入持有超额收益、累计超额收益和Fama-French三因素模型的常数项三个指标,通过对比审批制和核准制下的新股发行定价效率,来说明发行制度改革对IPO定价效率的作用。