摘要
This paper used event study methods to study the market responses to MBO (Management Buyout). The result illustrates that after MBO, CAR (cumulated abnormal return)is significantly larger than zero (2.52%). And moreover, the volatility changes little after MBO.From this result, we can say that the reaction of investors for MBO is positive. At the same time,government can gradually loosen the limit for it to improve the market development and for the benefit of investors.
This paper used event study methods to study the market responses to MBO （Management Buyout）.The result iUustrates that after MBO, CAR （cumulated abn6rmal return）is significantly larger than zero （2.52%）. And moreover, the volatility changes little after MBO. From this result, we can say that the reaction of investors for MBO is positive. At the same time, government can gradually loosen the limit for it to improve the market development and for the benefit of investors.
出处
《统计研究》
CSSCI
北大核心
2005年第7期69-71,共3页
Statistical Research
