| 上市公司配股违规行为事后监管的市场反应 |
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| 引用本文： | 徐军辉,王华.上市公司配股违规行为事后监管的市场反应[J].财会通讯,2008(7):3-5. |
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| 作者姓名： | 徐军辉 王华 |
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| 作者单位： | [1]广州大学公共管理学院,广东广州510608 [2]暨南大学管理学院,广东广州510632 |
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| 摘 要： | 本文以1998-2004年进行配股并且在配股后三年内受到证监部门处罚的上市公司为样本，对上市公司配股违规行为事后监管的市场反应进行了研究，结果发现：配股当年以及配股三年内均存在违规行为的上市公司受罚时有显著的负效应，违规后两年以上被发现的上市公司受罚时有显著的负效应，其他的违规行为受罚时并没有表现出明显的市场反应。由此可见，证监部门对违规配股上市公司的事后监管并没有起到实质的作用，即使有作用其效果也甚微。
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| 关 键 词： | 配股公司 违规 市场反应 |
Market Effect of Deregulation on Rights Issue Companies |
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| Xu Junhui Wang Hua.Market Effect of Deregulation on Rights Issue Companies[J].Communication of Finance and Accounting,2008(7):3-5. |
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| Authors: | Xu Junhui Wang Hua |
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| Institution: | Xu Junhui Wang Hua (Public Management School,Guangzhou University,Guangzhou,Guangdong 510608,Management School,Jinan University,Guangdong 510632 ) |
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| Abstract: | Companies that have rights offering in 1998 to 2004 and have been published in three years following issuing by SEC have been studied in our paper, and emphasis in laid on market effect of regulation on those companies. Positive research indicate that punishment on companies with deregulation act in the same year of offering and the following years has evidently negative effect on performance, and, companies that have been detected and fined 2 years after deregulation has evidently negative performance, oth... |
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| Keywords: | Companies with rights issue Deregulation Market effect |
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