我国上市公司分离交易可转债发行的公告效应研究被引量：1

Announcement Effects of Warrant-Bonds:An Empirical Analysis for Chinese Stock Market

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摘要分离交易可转债是股权分置改革后我国证券市场上的创新产品,它已成为上市公司再融资的一种重要工具。事件研究的结果发现我国上市公司分离交易可转债的发行公告具有显著的正效应。运用回归分析法对公告效应的影响因素进行分析,发现公告效应主要受相对发行规模和稀释率这两个因素的影响。 After the split-share structure reform in China, warrant-bond, the innovative product, has become one of the important instruments for refinancing. The event study analysis shows that announcements of warrant-bonds issued by Chinese listed companies are associated with significant positive abnormal returns. The cross-sectional regression analysis reveals that cumulative abnormal returns are mainly influenced by the relative issue size and dilution rate of the equity.

作者赵红平

机构地区东南大学经济管理学院

出处《南京航空航天大学学报（社会科学版）》 2010年第1期25-30,共6页 Journal of Nanjing University of Aeronautics & Astronautics（Social Sciences）

关键词分离交易可转债公告效应事件研究法正效应 warrant-bonds announcement effects event study methodology positive effects

分类号 F830.9 [经济管理—金融学]

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参考文献14

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同被引文献6

1黄少安,张岗.中国上市公司股权融资偏好分析[J].经济研究,2001,36(11):12-20. 被引量：974
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6周晖,孙巍.附认股权证可分离交易债定价探讨[J].证券市场导报,2009(6):18-22. 被引量：2