| 我国上市公司房地产与公司绩效关系的实证研究 |
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| 引用本文： | 朱乐,寿杨栋.我国上市公司房地产与公司绩效关系的实证研究[J].价值工程,2008,27(8). |
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| 作者姓名： | 朱乐 寿杨栋 |
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| 作者单位： | 1. 电子科技大学经济与管理学院,成都,610054
2. 电子科技大学计算机科学与工程学院,成都,610054 |
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| 摘 要： | 房地产能否增加公司的股票市场价值、提高其收益率和公司的整体赢利能力是公司房地产领域一个很重要的问题。文章采取深圳股票市场非房地产上市公司的股票以及其公司房地产信息,结合三因素模型,对该问题做了实证分析。实证结果表明,公司房地产比率对所有行业整体的平均股票收益率影响并不显著,却对信息技术行业影响显著;同时公司房地产的规模对公司的赢利能力有比较显著的影响。
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| 关 键 词： | 公司房地产 股票市场收益率 总资产净利润率 公司房地产密集度 |
Empirical Study of the Relationship Between Corporate Real Estate and its Performance |
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| Zhu Le,Shou Yangdong.Empirical Study of the Relationship Between Corporate Real Estate and its Performance[J].Value Engineering,2008,27(8). |
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| Authors: | Zhu Le Shou Yangdong |
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| Abstract: | An interesting question in the discussion of corporate real estate is whether real estate can improve the stock market performance of non-real estate firms,including their market value,return rate and the overall profitability.Using a data set of firms' stock performance and information of real estate in the Shenzhen stock market,this question is examined with the three-factor model.The empirical results suggest that inclusion of real estate in a corporate portfolio leads to significant influence on stock returns in the information technology industry,but the influence is insignificant when taking all industries as a whole.The study also shows that size of the real estate will impact company's profitability. |
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| Keywords: | corporation real estate market return rate of stock profit rate of asset real estate asset intensity |
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