| 中国上市公司质量及价值分析(1994—2010)——基于剩余收益定价模型的视角 |
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| 引用本文： | 李海峰.中国上市公司质量及价值分析(1994—2010)——基于剩余收益定价模型的视角[J].西华大学学报(哲学社会科学版),2012(5):81-89. |
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| 作者姓名： | 李海峰 |
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| 作者单位： | 西南财经大学金融学院,四川成都,611130 |
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| 摘 要： | 本文根据历史数据,从剩余收益定价模型的角度对我国上市公司1994—2010年期间的质量及价值进行分析。研究发现,平均来讲,我国上市公司的赢利水平在这一时间段内整体有下降的趋势;公司上市后的业绩也呈下滑迹象;同时,上市公司的赢利能力有着较强的均值回归特性。
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| 关 键 词： | 上市公司质量 剩余收益 均值回归 |
Quality and Value Analysis of Chinese Listed Companies during 1994-2010--Based on Residual Income Model |
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| LI Hai-feng.Quality and Value Analysis of Chinese Listed Companies during 1994-2010--Based on Residual Income Model[J].Journal of Xihua University:Philosophy & Social Sciences,2012(5):81-89. |
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| Authors: | LI Hai-feng |
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| Institution: | LI Hai-feng School of Finance,Southwestern University of Finance and Economics,Chengdu,Sichuan,611130,China |
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| Abstract: | This paper presents a quality and value analysis of Chinese listed companies during 1994—2010 on the basis of residual income model.The findings are that: 1) the profitability of Chinese listed companies declined on average in the period;2) the IPO firms performed worse after being listed;3) the profitability ratio exhibited strong mean reversion property. |
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| Keywords: | quality of listed company residual income mean reversion |
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