优质大型企业境内上市价格压力研究

文章针对优质大型企业上市是否会产生价格压力这一问题,采用事件分析法对近五年来上市的七个优质大型企业境内上市前后对市场的影响进行了实证研究.文章检验优质大型企业境内上市事件发生期间,市场是否产生累积超额收益率(CAR),并根据CAR的变化趋势判断优质大型企业境内上市对市场整体以及对具有不同特征股票子样本的影响.实证结果总体上不能得出优质大型企业上市对市场产生了价格压力的明显实证证据,因此得不出其对证券市场产生价格压力的一致性结论.

A Study on Price Pressure from Large,High-quality Enterprises Listed in the Domestic Market

This paper focuses on the problem whether or not large,high-quality enterprises listed in the domestic market could produce price pressure.The method used is an event study designed to test whether or not the event of being listed could produce cumulative abnormal returns(CAR) in the market around the period of seven large,high-quality enterprises which were being listed in the domestic market.And then this paper estimates its impact on the whole market and the stock samples with different characters accord...