The article states that the purpose of the agricultural industry of Russia is the creation of a market for innovation and investment to improve productivity and competitiveness in the context of growing economic, poli...The article states that the purpose of the agricultural industry of Russia is the creation of a market for innovation and investment to improve productivity and competitiveness in the context of growing economic, political, and natural climatic instability and volatility, both in Russia and abroad （membership in the WTO, industry globalization, etc.）. Foreign economic and political sanctions have a growing negative impact. It is very important for the agriculture industry to be supported by the Russian state budget and to have administrative support, the institutional structure of the state, quantitative and qualitative indicators of national support： federal, regional, and municipal. Positive development of the regional and city aspect is also important.展开更多
The advent of the era of the smart economy has made agricultural production more intelligent.An increasing number of companies have launched a series of investment activities aimed at smart agricultural production(SAP...The advent of the era of the smart economy has made agricultural production more intelligent.An increasing number of companies have launched a series of investment activities aimed at smart agricultural production(SAP).However,whether smart agricultural production investment(SAPI)impacts the stock market has yet to be confirmed.Therefore,based on the sample data of 118 listed companies in China from 2010 to 2019,this study empirically examines the impact of SAPI announcements on shareholder value,as indicated by abnormal returns of stocks.Further,we tested the moderating effect of certain characteristic factors on abnormal stock returns.The research results illustrate a significant positive connection between SAPI announcements and shareholder value.Moreover,considering the announcement content and company factors,this study investigates the impacts of different investment targets and industries on the market reaction to SAPI announcements.We find that non-agricultural companies have a more positive market reaction to SAPI than agricultural companies;the higher the liability-asset ratio,the more positive will be the stock market reaction to SAPI.展开更多
文摘The article states that the purpose of the agricultural industry of Russia is the creation of a market for innovation and investment to improve productivity and competitiveness in the context of growing economic, political, and natural climatic instability and volatility, both in Russia and abroad （membership in the WTO, industry globalization, etc.）. Foreign economic and political sanctions have a growing negative impact. It is very important for the agriculture industry to be supported by the Russian state budget and to have administrative support, the institutional structure of the state, quantitative and qualitative indicators of national support： federal, regional, and municipal. Positive development of the regional and city aspect is also important.
基金funded by Major Program of the National Social Science Foundation of China(grant number No.18ZDA060).
文摘The advent of the era of the smart economy has made agricultural production more intelligent.An increasing number of companies have launched a series of investment activities aimed at smart agricultural production(SAP).However,whether smart agricultural production investment(SAPI)impacts the stock market has yet to be confirmed.Therefore,based on the sample data of 118 listed companies in China from 2010 to 2019,this study empirically examines the impact of SAPI announcements on shareholder value,as indicated by abnormal returns of stocks.Further,we tested the moderating effect of certain characteristic factors on abnormal stock returns.The research results illustrate a significant positive connection between SAPI announcements and shareholder value.Moreover,considering the announcement content and company factors,this study investigates the impacts of different investment targets and industries on the market reaction to SAPI announcements.We find that non-agricultural companies have a more positive market reaction to SAPI than agricultural companies;the higher the liability-asset ratio,the more positive will be the stock market reaction to SAPI.
