| 创业板上市公司会计盈余与股价反应的实证研究 |
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| 引用本文： | 胡保国.创业板上市公司会计盈余与股价反应的实证研究[J].郑州经济管理干部学院学报,2011(2). |
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| 作者姓名： | 胡保国 |
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| 作者单位： | 安徽财经大学; |
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| 摘 要： | 以创业板63家上市公司为样本,根据其2010年中期财务报告会计盈余数据,将样本公司分为三组,采用事件研究法考察股价对会计盈余的反应。研究表明,未预期盈余为正号的组合可以获得的异常报酬率高于未预期盈余为负号的组合;会计盈余对股价的影响周期较长,在公告前后对股价都有影响,市场尚未达到半强式有效;中报公布当日好消息组不能获得明显的异常报酬。
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| 关 键 词： | 创业板 上市公司 会计盈余 股价反应 异常报酬率 未预期盈余 |
An Empirical Study on Accounting Earnings and Stock Price Reaction of Listed Companies in Growth Enterprise Market |
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| HU Bao-guo.An Empirical Study on Accounting Earnings and Stock Price Reaction of Listed Companies in Growth Enterprise Market[J].JOurnal of Zhengzhou Economics & Management Institute,2011(2). |
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| Authors: | HU Bao-guo |
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| Institution: | HU Bao-guo(Anhui University of Finance and Economics,Bengbu 233041,China) |
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| Abstract: | Exploiting interim financial reports of the sixty-three listed companies in growth enterprise market,dividing the sample into three groups,the author uses event study method to investigate the relationship between the financial earnings and stock price behavior.The research indicates that the portfolio of positive unexpected earnings can obtain higher abnormal return than the negative.The stock market has not come to be semi-strong-form efficient. |
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| Keywords: | growth enterprise market event study abnormal return unexpected earnings |
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