| 控股股东减持公告影响股价波动的实证分析 |
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| 引用本文： | 吴敏晓,蓝发钦. 控股股东减持公告影响股价波动的实证分析[J]. 特区经济, 2011, 0(10): 106-108 |
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| 作者姓名： | 吴敏晓 蓝发钦 |
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| 作者单位： | 集美大学财经学院;华东师范大学国际金融与风险管理研究中心; |
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| 基金项目： | 教育部人文社会科学项目“后股权分置时代中国上市公司大股东行为特征及其监管研究”(08JA790043)资助 |
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| 摘 要： | 本文运用事件分析法对控股股东减持公告后的股价变动进行实证后发现,控股股东的减持行为具有信号效应,减持会对股价产生下跌的压力;在不同的市场环境中控股股东减持的信号效应对股价的影响差别很大。
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| 关 键 词： | 控股股东 减持 公告 股价波动 |
Demonstrative analysis of anouncement on major shareholder decreased stakes's influence on share price flutuation |
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| Wu Min Xiao Lan Fa Qin. Demonstrative analysis of anouncement on major shareholder decreased stakes's influence on share price flutuation[J]. Special Zone Economy, 2011, 0(10): 106-108 |
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| Authors: | Wu Min Xiao Lan Fa Qin |
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| Affiliation: | Wu Min Xiao Lan Fa Qin |
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| Abstract: | The event analysis method is used to empirically study the stock price volatility due to controlling shareholders'.selling announcement.The result shows that controlling shareholders' selling behavior has signal effect.Controlling shareholders' selling behavior will bring about the fall of stock prices.In different market environment,the signal effect of controlling shareholders' selling behavior varies greatly. |
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| Keywords: | Controlling shareholder Selling announc-ement Stock price volatility |
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