文章基本信息

标题：RESEARCH ON THE SUPERIOR RATE OF RETURN BASED ON EVENT STUDY
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作者：JILIN ZHANG
期刊名称：Journal of Theoretical and Applied Information Technology
印刷版ISSN：1992-8645
电子版ISSN：1817-3195
出版年度：2013
卷号：48
期号：1
页码：448-453
出版社：Journal of Theoretical and Applied
摘要：Event Study （or Residual Analysis） is an analysis tool which is often used in the field of financial research. In this paper, a detailed statement about the procedures of Event Study has been made. Via the Event Study, the authors have researched whether there is a superior rate of return in the pilots on the resume trading day after the sub-owned shares reform was declared by China�s Securities Regulatory Commission. In this paper, the authors have listed all the factors possibly influence the superior rate of return as explanatory variables, accordingly, the superior rate of return on the resume trading day as the explained variables. Using partial least square regression analysis, a final conclusion has been made. It shows that the superior rate of return is positively correlated with the proportion of dividend share in the consideration plan, and the net capital of previous year, and is negatively correlated with the scale of board of directors and the share holding proportions of the controlling shareholders.
关键词：Event Study; Superior Rate of Return; Sub-owned Shares Reform