| 上市公司退市制度实施效果的实证分析 |
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| 引用本文： | 冯芸,刘艳琴.上市公司退市制度实施效果的实证分析[J].财经研究,2009,35(1). |
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| 作者姓名： | 冯芸 刘艳琴 |
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| 作者单位： | 1. 上海交通大学安泰经济与管理学院,上海,200052
2. 中国农业银行上海市分行,上海,200023 |
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| 摘 要： | 文章采用Logistic回归分析方法研究我国上市公司退市制度的实施效果,结果表明,被特别处理的上市公司资产质量的好坏和盈利能力的高低对其是否能争取到保留上市资格的机会并无显著影响,撤销特别处理后的公司也普遍出现业绩下滑.这说明上市公司对自身质量改进缺少足够的关注,最终导致退市制度所应产生的正面效应长期弱化.
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| 关 键 词： | 退市制度 特别处理股票 Logistic回归 |
An Empirical Analysis of Implementation Effect of Delisting Provision in China |
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| FENG Yun,LIU Yan-qin.An Empirical Analysis of Implementation Effect of Delisting Provision in China[J].The Study of Finance and Economics,2009,35(1). |
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| Authors: | FENG Yun LIU Yan-qin |
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| Institution: | 1.Antai College of Economics & Management;Shanghai Jiao Tong university;Shanghai 20052;China;2.Shanghai Branch;Agricultural Bank of China;Shanghai 200023;China |
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| Abstract: | The paper makes an empirical analysis on the implementation effect of delisting provision in China through Logistic regression analysis.The results indicate that the assets quality and profit-earning ability of ST listed companies have no significant impacts on retaining listing qualification,and the performance of ST listed companies still widely gets worse after the special treatment has been revoked. It indicates that listed companies lack of concerns on the improvement of operation performance,thus the ... |
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| Keywords: | delisting provision special treatment Logistic regression |
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