| 深圳股市对股权分置改革有何反应——来自第二批试点公司的实证检验 |
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| 引用本文： | 李博.深圳股市对股权分置改革有何反应——来自第二批试点公司的实证检验[J].时代经贸,2006,4(9):72-74. |
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| 作者姓名： | 李博 |
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| 作者单位： | 烟台工商学院管理科学与工程学院,山东,烟台 |
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| 摘 要： | 本文以深圳股市第二批试点公司为研究样本，通过赢家、输家股票组合超常日收益率的统计分析。以及累积超常日收益率的趋势分析，研究深圳股市对股权分置改革的短期反应。实证检验结果表明。在短期内，深圳股市存在过度反应。并且在公司股改预案披露后30个左右交易日，市场做出反向修正．
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| 关 键 词： | 股权分置 深圳股市 市场反应 |
How does Shenzhen Stock Market react to the reform of non - tradable shares?——Empirical test from the second batch of pilot corporations |
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| LI Bo.How does Shenzhen Stock Market react to the reform of non - tradable shares?——Empirical test from the second batch of pilot corporations[J].Economic & Trade Update,2006,4(9):72-74. |
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| Authors: | LI Bo |
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| Institution: | School of Management Science and Engineering , Yantai Institute of Business and Technology Yantai Shantong |
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| Abstract: | This paper studies how to Shenzhen Stock Market react to the reform of non - tradable shares in short - term, Based on the second batch of pilot corporations listing on Shenzhen Stock Exchange. This paper analyses the Abnormal Return of winner and loser portfolio,it also analyses the tendency of Cumulative Abnormal Return. The results indicate that Shenzhen Stock Market exists overreaction in short -term,and the market reversals in the 30th day after the information disclosure. |
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| Keywords: | Non - tradable shares Shenzhen Stock Market Market reaction |
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