A Study on Industry Effects of Chinese Listed Companies' Financial Restatements

被引：0

作者：

Chen, Xiaomin ^{[1
]}

Zhou, Xi ^{[1
]}

机构：

[1] Jinan Univ, Accounting Dept, Guangzhou, Guangdong, Peoples R China

来源：

INTERNATIONAL CONFERENCE ON ENGINEERING AND BUSINESS MANAGEMENT (EBM2011), VOLS 1-6 | 2011年

关键词：

financial restatements; market reactions; industry effects;

D O I：

暂无

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

The phenomenon of financial restatements has been spreading in recent years. A series of foreign researches indicated that financial restatements would bring a serious economic consequence to listed companies as well as the entire capital market, affecting their allocation of resources. Taking a sample of restated firmds in 2007, this paper uses event study method to study the abnormal return of the restated firmds and their industries, then study the relations between the two. The results show that not only the restated firmds suffer loss of value itself, but the industries suffer a negative effect due to the transmission of information. This study will provide Chinese listed companies with a reference and inspiration to standardize and guide their behaviors.

引用

页码：229 / 234

页数：6

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