影响创业板上市公司进行高送转的因素——基于Logit模型分析

Research on the influencing factors of the high transfer of the GEM Listed companies——Based on Logit Model Analysis

对中国主板市场上市公司进行高送转的影响因素,学术界普遍认为:公司的股价大小;公司的股本规模;股票的每股收益;公司是否为次新股;公司上一年度的净利润等;是决定是否高送转的原因,但专门针对创业板上市公司进行高送转的影响因素研究还比较少。利用近年来创业板上市公司进行高送转的行为特征以及进行高送转的动机,分析可能影响公司进行是否高送转的影响因素,运用Logit模型实证研究公司股价和公司总市值对高送转有着显著影响,给与投资在未来选择创业板上市公司高送转的预期提供参考。

Related to the Chinese main board market listing corporation to carry out high transfer of the impact factors, the academic community generally believe that the following aspects are the reasons for the decision of high transfer:the size of the company's share price, the size of the company's equity, the earnings per share, whether the company for the new shares and the net profit of the company for the last year. But the research on the impact factors of the high transfer of the GEM listed companies is relatively small. This paper analyzes the impact factors of high transfer of the GEM listed companies by using the behavior characteristics of the GEM listed companies in recent years to carry on the high transfer and the motivation of the high transfer. And using the Logit model to study the company’s stock price and the company’s total market value has a significant impact on the high transfer, to provide reference for the future of the company’s high transfer of the GEM.