股权分置改革前后上市公司绩效变化的研究

选取了177家股改公司,通过对股改前后绩效的分析发现:每股净资产在股改前后不存在显著差异;每股收益、资产利润率、净资产收益率均表现为股改后第一季度指标值显著高于股改前的指标值、股改后第二和三季度的指标值显著低于股改前的指标值、股改后第四季度的指标值与股改前的指标值没有显著差异,并对该结论进行了简单分析。

The Research of Changing Company Performances Before and After the Stock Splitting Reform

This article selected 177 stocks to analyse the changing performance of the company before and after the Stock Splitting Reform using variance analysis.We discovered that,each stock's net assets does not have remarkable differences subject to change;the index value of each stock's income,property profit margin and the net assets income rate is remarkably higher in the first quarter than previous after the reform;in- dex value in the second and the third quarter are remarkably lower than previous values and there is no remarkable differences between fourth quarter's index value and values before the reform.This conclusion is further carried on with some simple analysis.