辽宁省A股上市公司IPO后长期业绩的实证研究

发布时间：2018-07-01 10:38

本文选题：首次公开发行 + 业绩　；参考：《东北大学学报(自然科学版)》2010年02期

【摘要】：研究了辽宁省1996年1月至2002年7月上市的40只A股IPO后3年的业绩表现,分析了影响其业绩表现的主要因素.运用Fama-French三因素模型实证计算IPO后3年的长期超额收益,并考察其长期业绩情况.运用多独立样本Kruskal-Wallis检验、两独立样本曼-惠特尼U检验和多元变量回归分析方法找出影响长期业绩表现的主要因素,得出以下结论:辽宁省A股上市公司IPO后长期业绩表现弱势,业绩表现与上市时间、发行量和发行价格呈负相关.
[Abstract]:The performance of 40 A-share IPOs listed in Liaoning Province from January 1996 to July 2002 was studied and the main factors affecting the performance were analyzed. In this paper, we use Fama-French three-factor model to calculate the long-term excess return after IPO and investigate its long-term performance. Using multiple independent samples Kruskal-Wallis test, two independent samples Man-Whitney U test and multivariate regression analysis to find out the main factors that affect long-term performance. The following conclusions are drawn: the long-term performance of Liaoning A-share listed companies is weak after IPO, and the performance is negatively correlated with the time of listing, the amount of circulation and the price of issuance.
【作者单位】：东北大学工商管理学院;
【基金】：国家自然科学基金资助项目(70771023) 辽宁省社会科学基金资助项目(L08BTJ016) 辽宁省财政科研基金资助项目(08D001)
【分类号】：F832.51

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