| 中小企业板新股初始收益率的因素贡献度实证研究 |
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| 引用本文： | 刘中学,林福永. 中小企业板新股初始收益率的因素贡献度实证研究[J]. 财会通讯, 2005, 0(8) |
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| 作者姓名： | 刘中学 林福永 |
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| 作者单位： | 暨南大学珠海学院 广东珠海519070(刘中学)，暨南大学珠海学院 广东珠海519070(林福永) |
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| 摘 要： | 本文利用主成份分析法,探讨了影响中小企业板新股初始收益率的主要因素,测度了各因素对初始收益率的贡献度。发现初始收益率主要取决于一、二级市场状况,而内在价值、盈利成长性等关键财务指标,对初始收益率的影响力居于次要地位。
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| 关 键 词： | 新股 初始收益率 主成份 逐步回归 |
An Empirical Research to Factor Contribution Rate of the New Stock''''s Initial Return in Small and Middle Enterprise Market |
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| Liu Zhongxue Lin Fuyong. An Empirical Research to Factor Contribution Rate of the New Stock''''s Initial Return in Small and Middle Enterprise Market[J]. Communication of Finance and Accounting, 2005, 0(8) |
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| Authors: | Liu Zhongxue Lin Fuyong |
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| Abstract: | With the help of principal component method, I researched the main factors which affected new stock's initial return in the Mini-Middle Enterprise Market, and measured every factor contribution rate to the initial return. I found it was mostly decided by its condition of the issue and trade market. On the contrary, those key financial index played a minor role to the initial return, such as intrinsic value, profit grown margin, and so on. |
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| Keywords: | Initial Return Principal Component Stepwise Regression |
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