Liquidity of Stock Market and Corporate Value

被引：0
|
作者：
Yu, Dan [1 ]
Zhou, Yan [1 ]
机构：
[1] Nanjing Univ Sci & Technol, Sch Econ & Management, Nanjing, Peoples R China
来源：
2019 16TH INTERNATIONAL CONFERENCE ON SERVICE SYSTEMS AND SERVICE MANAGEMENT (ICSSSM2019) | 2019年
关键词：
Stock Liquidity; Corporate Value; Operating Performance; Capital Structure; Trend Effect;
D O I：
暂无
中图分类号：
TP [自动化技术、计算机技术];
学科分类号：
0812 ;
摘要：
This paper studies the impact of liquidity of A-share listed companies in Shanghai and Shenzhen Stock Exchanges from 2012 to 2015 on the value of the company, and divides them into groups to study the trend effect of liquidity on the change of the company's value. The results show that stock liquidity has a positive impact on corporate value, and stock liquidity has a positive impact on corporate value mainly through the two paths of capital structure and operating efficiency. In addition, the higher the stock liquidity is, the faster the growth rate of corporate value is, and the trend effect of increasing marginal effect is produced.
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页数：6
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