欢迎您！东篱公司
退出
-
申报数据库
-
立项数据库
-
成果数据库
-
项目获奖数据库
中文摘要：
本文通过收集2006～2009年A股上市公司年报和半年报中十大股东和十大流通股东的数据，从财务和治理特征出发，分析QFII在A股市场中所起的作用。统计结果表明，QFII持股公司的盈利能力、运营能力和公司治理质量都优于无QFII持股的公司。进一步的回归分析表明，QFII持股能在一定程度上改善公司财务业绩。上述结果说明QFII在甄别和提高上市公司质量方面发挥了投资者而非投机者作用，因而有利于我国资本市场健康平稳发展。
英文摘要：
This paper collects the data of the top ten stockholders and the top ten shareholders of tradable shares disclosed in the annual and semi-annual reports during 2006-2009 in China＇s A-share market, and analyses the role of QFII in the A-share market from the financial and governance point of view. The statistical regression results show that the QFII holding companies＇ profitability, operational capability and corporate governance quality are superior to those without QFII ownership. The further regression results indicate that QFII ownership can improve the company＇s financial performance to some extent. These results show that QFII play a role of investor rather than speculator in screening and improving the quality of listed companies, and then benefit China＇s capital market development.
同期刊论文项目
同项目期刊论文
The Effect of Differentiated Margin on Futures Market Investors’ Behavior and Structure: An Experime
Multiple Large Shareholders Structure and Good Governance: The Roles of Shareholder Numbers, Control
Political Connections and Capital Allocation Efficiency of Chinese Listed Companies through Bond Fin
期刊信息
位置：