| 双重上市对企业绩效的影响——基于A+H上市企业的实证分析 |
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| 引用本文： | 谭庆美,张彦茹.双重上市对企业绩效的影响——基于A+H上市企业的实证分析[J].湖南大学学报(社会科学版),2014(6):76-82. |
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| 作者姓名： | 谭庆美 张彦茹 |
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| 作者单位： | 天津大学 管理与经济学部,天津,300072 |
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| 基金项目： | 国家自然科学基金项目，天津大学创新基金 |
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| 摘 要： | 以1993~2009年间上市的A+H企业为样本,同时选取A股上市企业作为对照组,采用回归分析与配对分析的方法,实证分析了双重上市对企业绩效的影响,并对市场分割假说和绑定假说进行了检验。实证结果表明,在中国大陆和香港双重上市降低了市场分割程度,但未能改善企业绩效。该研究未能得到绑定假说的支持性证据,我国企业在香港上市后的绩效变化并不符合绑定假说。
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| 关 键 词： | 双重上市 市场分割假说 绑定假说 企业绩效 |
Dual Listing and Firm Performance: Evidence from A+H Shares |
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| TAN Qing-mei,ZHANG Yan-ru.Dual Listing and Firm Performance: Evidence from A+H Shares[J].Journal of Hunan University(Social Sciences),2014(6):76-82. |
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| Authors: | TAN Qing-mei ZHANG Yan-ru |
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| Institution: | (College of Management and Economics, Tianjin University, Tianjin300072,China) |
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| Abstract: | Based on the date of A+H shares and the date of A shares during 1993~2009, this paper investigates the impact of dual listing on firm performance by using regression analysis and pair analysis. The results show that dual listing on the mainland and Hong Kong can reduce the market segmentation, but fail to improve the firm performance. This paper does not find any evidence supporting that dual listing on the mainland and Hong Kong complies with bonding hypothesis. |
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| Keywords: | dual listing market segmentation hypothesis bonding hypothesis firm performance |
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