H公司股票回购的效应研究

Study on the Effect of Stock Repurchase of H Company

本文以我国证券行业H公司的股票回购为案例,研究了该公司股票回购行为产生的财务效应及市场效应。通过对H公司股票回购前后财务指标以及超额收益率的分析,总结了本次股票回购行为给H公司带来的利弊,得出此次股票回购行为对H公司起到了稳定股价的作用,但整体影响并不明显的结论。

Taking the stock repurchase of H company in China’s securities industry as a case, this paper studies the financial effect and market effect of the company’s stock repurchase. Through the analysis of financial indicators and excess return rate before and after the stock repurchase of H company, it summarizes the advantages and disadvantages of the stock repurchase to H company, and comes to the conclusion that the stock repurchase has played a role in stabilizing the stock price of H company, but the overall impact is not obvious.