On the basis of the main introduction of the two theories: signal transmission and demand deficiency, the paper analyzes that the newly-added stocks caused stockholders wealth changes, thus affect the stock price, and explains the stock price effects of the newly-added stocks under the specific system circumstances in China.
本文在着重介绍信号传递理论和需求不足理论的基础上 ,分析了增发新股导致股东财富的变化 ,从而影响股票价格 ,并提出了在我国特定制度环境下的增发新股股价效应解
Applying the econometrics methodology,the paper tests the relations between EVA(economic value added),REVA(revised economic value added) and the stockholders wealth,using the data from the listed companies in China.
应用中国上市公司的数据,对EVA、REVA与股东财富之间的关系进行的计量实证分析检验结果显示:尽管EVA和REVA都与作为股东财富指标的非正常回报呈现正相关关系,但EVA与非正常回报的相关程度要比REVA与非正常回报的相关程度强;因为在中国REVA对股东财富的影响呈现不确定性而不适宜作为衡量是否为股东创造财富的业绩指标,相对而言,EVA比较适合中国公司的现状,可用以替代非正常回报,作为衡量经营管理者是否能为股东创造财富的业绩指标。
The Public Finance Policies of Guangdong after WTO Accession;
广东财政应对WTO之策略
Empirical Research of Influence of Shareholding Reform over Transferable Shareholders Wealth;
股改对流通股股东财富影响的实证研究
Research on Shareholder s Wealth Effect of Number-one Shareholder Change in Listed Companies;
上市公司第一大股东变更的股东财富效应研究
Accounting Performance, Transfer of Control Rights and the Wealth Effect of Shareholders;
业绩表现、控制权转移和股东财富效应
The Model of Accounts Receivable--Based on the Maximization of Shareholders Wealth;
基于股东财富最大化的应收账款模型
A Theoretical Analysis of Financing Mode in Management Buy-outs and Stockholders Wealth;
MBO融资方式与股东财富理论分析
“Maximization of share holder wealth”or “Maximization of enterprises vlaue”;
“股东财富最大化”或“企业价值最大化”
On Cash Dividend Unable to Maximize Stockholders Wealth;
现金分红未必能最大化流通股股东财富
Empirical Analysis on the Relationship between Dividend Policy and Shareholder Wealth Effect
股利政策与股东财富效应关系的实证分析
Maximum of Shareholders Wealth;
股东财富最大化——最具发展潜力的财务管理目标
Shareholder Wealth Effect of Dividend Policy: An Empirical Evidence from Chinese Security Markets;
股利政策的股东财富效应:来自中国股市的经验证据
Research on the Impact of Shareholder-Stakeholder Game on the Shareholder Wealth Effect in M&A;
股东—利益相关者博弈对并购方股东财富效应的影响
The Study on Taiwan Industry s Shareholders Wealth and Operating Performance Associated with Mergers & Acquisition Synergies;
协同效益对股东财富与经营绩效之影响
A Study on External Guarantee of Listed Firms and Risk of Shareholders Wealth;
上市公司对外担保与股东财富风险研究
Elementary Analysis of Several Factors for Affecting the Implementation of the Biggestization Target for Stockholder s Wealth;
浅析影响股东财富最大化目标实现的几个因素
REVA,EVA and the Stockholders Wealth: Evidences from Listed Companies in China;
REVA、EVA与股东财富:来自中国上市公司的证据
Influence of Corporate Social Responsibility on Stockholder s Wealth: an Empirical Study;
企业社会责任对股东财富影响的实证研究
A Study of Maximum Profit of the Stock-holders and Maximum Value of the Interest-related Persons;
论股东财富与利益相关者价值的最大化
Research on Wealth-effect of MBO for Shareholders of Listed Companies;
中国上市公司管理层收购股东财富效应研究