| 上市公司稀释每股收益会计信息含量的研究 |
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| 引用本文： | 范孝周,吴应宇,陈韶君.上市公司稀释每股收益会计信息含量的研究[J].中国矿业大学学报(社会科学版),2010,12(3):34-39. |
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| 作者姓名： | 范孝周 吴应宇 陈韶君 |
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| 作者单位： | 1. 东南大学,经济管理学院,江苏,南京,211189
2. 中国矿业大学,管理学院,江苏,徐州,221116 |
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| 摘 要： | 以2007年沪深两市A股28家存在稀释性潜在普通股的上市公司为研究样本,采用＂事件研究法＂,运用累计平均超额报酬率法直观地发现稀释每股收益具有信息含量。同时在盈余反应系数法下建立线性与非线性盈余回报模型,研究得出稀释每股收益和基本每股收益都具有与股票价格相关的信息含量,且稀释每股收益更具决策有用性,这为新准则的实施效果提供了经验证据。
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| 关 键 词： | 新会计准则 基本每股收益 稀释每股收益 信息含量 |
On Accounting Information Content of Diluted EPS:Evidence from Listed Companies |
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| FAN Xiao-zhou,WU Ying-yu,CHEN Shao-jun.On Accounting Information Content of Diluted EPS:Evidence from Listed Companies[J].Journal of China University of Mining & Technology(Social Sciences),2010,12(3):34-39. |
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| Authors: | FAN Xiao-zhou WU Ying-yu CHEN Shao-jun |
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| Institution: | 1.School of Economics and Management,Southeast University,Nanjing 211189,China;2.School of Management,China University of Mining ＆ Technology,Xuzhou 221116,China) |
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| Abstract: | Taking 28 listed companies which were in possession of dilutive potential ordinary shares in A-share in Shanghai and Shenzhen Security markets in 2007 as samples,the present paper empirically tests the information content of the diluted earnings per share.In the method of event study,this paper carries out an analysis of cumulative average abnormal return to find that diluted EPS has transferred useful information to investors.Then with the analysis of earning response coefficient,it establishes linear and nonlinear earningsreturn model and concludes that diluted EPS has information content significantly relevant to stock price.Compared with basic EPS,diluted EPS is more correlated with decision-making.Finally,it provides empirical evidence on the effect of the implementation of the new standard and makes several policy proposals such as the improvements for diluted EPS＇s calculation and listing. |
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| Keywords: | new accounting standards basic EPS diluted EPS information content |
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