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| 盈余信息预披露与股票价格行为的研究 | |
| 引用本文： | 朱天星,陈艳,王庆石,徐占东.盈余信息预披露与股票价格行为的研究[J].数学的实践与认识,2006,36(12):113-119. |
| 作者姓名： | 朱天星 陈艳 王庆石 徐占东 |
| 作者单位： | 1. 沈阳工业大学经济学院,辽宁,沈阳,110023;东北财经大学数量经济系,辽宁,大连,116025 2. 东北财经大学会计学院,辽宁,大连,116025 3. 东北财经大学数量经济系,辽宁,大连,116025 |
| 基金项目： | 东北财经大学校科研和教改项目;辽宁省教育厅社会科学基金 |
| 摘 要： | 从上证A股所有股票中选出了大公司股票与小公司股票各80家,以2002年—2004年为研究区间,通过构建计量经济模型来研究我国股市是否存在未预期的股票价格对盈余信息反映是公司规模的减函数,即“规模效应”.实证研究表明,我国上证A股市场不支持这一假说.说明了我国上市公司的会计信息含量还远远满足不了投资者的需求,若提高盈余报告时效性和盈余信息内容的可信性,才能增加投资者信息收集的动力,促进股票价值的理性回归,保护投资者利益. |
| 关 键 词： | 大公司股票 小公司股票 规模效应 |
| 修稿时间： | 2006年10月25 |
Study on Predisclosure Earnings Information and Shock Price Behavior |
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| ZHU Tian-xing,CHEN Yan,WANG Qing-shi,XU Zhan-dong.Study on Predisclosure Earnings Information and Shock Price Behavior[J].Mathematics in Practice and Theory,2006,36(12):113-119. | |
| Authors: | ZHU Tian-xing CHEN Yan WANG Qing-shi XU Zhan-dong |
| Abstract: | This paper selects eighty large stocks and eighty small stocks respect ively from A share SHANGHAI STOCK EXCHANGE from 2002 to 2004,and examines if unexpected response of stock price to earnings information decrease according to firm size,namely ″size effect″ in CHINA STOCK MARKET through constructing econometric model.Empirical study indicates that this hypothesis is not supported in A share SHANGHAI STOCK EXCHANGE,and further point out that content of earnings information of CHINA listed company cannot meet investors′ need.If timely earnings reports are easily obtained and content of earnings information are more creditable,incentive of investors collecting involved information will increase,which could make stock price bounding towards its real value and protect investors′ interest. |
| Keywords: | large stock small stock size effect |
| 本文献已被 CNKI 万方数据 等数据库收录！ | |