摘要
从行为金融的角度出发,以投资者过度反应和反应不足为理论基础,采用沪市A股2005-2009年间的数据对审计质量和盈余公告效应二者关系进行了检验。结果发现,审计质量能够加剧盈余公告效应幅度,它既能加剧"好消息"公司股价的向上漂移,也能够加剧"坏消息"公司股价的向下漂移。
From the perspective of behavioral finance, this paper studies the linear relationship between audit quality and PEAD, using the data from A share of shanghai from 2005 to 2009. The results showed that there is a positive correlation between audit quality and PEAD, it means high quality of audit can aggravate the magnitude of the drift.
出处
《科技和产业》
2012年第4期124-129,共6页
Science Technology and Industry
