摘要
本文选取了A股96家上市公司共150个产品质量事件作为研究样本,从理论和实证两方面研究了产品质量事件的动因和影响。结果显示,法制环境的薄弱和缺乏有效的举报机制是导致产品质量事件发生的重要原因。通过对上市公司股票市场反应的研究发现,短期内,上市公司股票在发生产品质量事件后获得显著为负的累计异常收益率,尤其是对那些通过媒体首次披露和事后有公告的公司。此外,如果公司能够较快对事件进行处理,并在公告中积极承担责任,将有利于减少股东的损失。
This paper samples 150 product quality scandals related to 96 companies and examines the underlying causes and effects of these scandals theoretically and empirically. Study indicates that toothless implementation of rules and inadequacies of whistle blower mechanism are the underlying forces behind these scandals. And study conducted toward effects upon stock price performance to product related scandals show that price plummeted after the scandal exposure especially for those companies of which scandal firstly made public by media then disclosed by the company. However if company were to react quickly and responsibly rather than shirk indefinitely, losses incurred by shareholder could be stemmed.
出处
《证券市场导报》
CSSCI
北大核心
2015年第4期42-49,共8页
Securities Market Herald
基金
国家自然科学基金项目(项目批准号71003113)
教育部新世纪优秀人才支持计划
中央财经大学青年科研创新团队支持计划
金融学院院级科研项目资助
关键词
产品质量事件
消费者权益保护
公司业绩
公司治理
product quality scandals
consumer protection
corporate performance
corporate governance
