Empirical Research on the Level and Quality of Gains from ST Stocks in China

被引：0
|
作者：
Hu, Wenxiu [1 ]
Niu, Jing [1 ]
Mu, Qingbang [1 ]
机构：
[1] Xian Univ Technol, Xian 710054, Shaanxi, Peoples R China
来源：
BUSINESS, ECONOMICS, FINANCIAL SCIENCES, AND MANAGEMENT | 2012年 / 143卷
关键词：
ST stock; Beta coefficient; Excess profit; Empirical study;
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The paper investigated the question whether excess profits exist among ST stocks in China, under the circumstances of adjusting risk and not adjusting risk. Firstly, the paper made a group of t-test of significant difference between ST stocks and the financial market and normally listed stocks, on the holding income and accumulative total income; Then, the article made and empirical study on the investing risk of ST stocks by estimating their Beta coefficients. The result shows that, only the ST stocks and *ST stocks outperformed the financial market and normally listed stocks in the short run by the geometry average earnings, hut it is not always the case in the long run.
引用
收藏
页码：89 / 95
页数：7
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