| 沪市公司IPO业绩效应研究 |
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| 引用本文： | 李常青,刘清昌.沪市公司IPO业绩效应研究[J].南开管理评论,2005,8(1):96-100. |
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| 作者姓名： | 李常青 刘清昌 |
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| 作者单位： | 厦门大学管理学院MBA中心
(李常青)，厦门大学(刘清昌) |
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| 摘 要： | 本文通过对1996至1999年间上市的沪A股公司的实证研究,发现在这些年间上市的沪A股公司确实同其它国家的新股一样,存在业绩下滑现象。结合中国特有的制度背景,本文采用实证研究方法探讨了公司IPO业绩下滑的影响因素。
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| 关 键 词： | IPO 业绩效应 上市公司 |
An Empirical Study on Operating Performance Effect of IPO Firms in Shanghai Stock Market |
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| Li Changqing,Liu Qingchang.An Empirical Study on Operating Performance Effect of IPO Firms in Shanghai Stock Market[J].Nankai Business Review,2005,8(1):96-100. |
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| Authors: | Li Changqing Liu Qingchang |
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| Abstract: | The study has found that after excluding macro-economic effects, there are still significant performance declines in the 228 firms issued type A shares between 1996 and 1999 in Shanghai Stock Exchange. Then, the paper put forward six possible factors to explain that effect: 1 .The influence of seasonal offerings within three years from IPO; 2.The influence of the concentration of ownership; 3.The influence of assessment in the process of pre-issue reshuffling; 4.The influence of money -raising on the post-issue operating performance; 5.The influence of industry; 6.Size of listed companies. Except industry, other factors contribute significantly to the decline of operating performance after IPO. |
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| Keywords: | Initial Pubic Offering (IPO) Performance Effect Listed Company |
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