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：
在对流动性、公司规模和账面市值比进行平稳性和协整性检验的基础上，运用广义脉冲响应函数，研究了流动性、公司规模和账面市值比之间的动态关系．研究发现，流动性对公司规模和账面市值比的影响是长期的，而公司规模和账面市值比对流动性的影响则是短期的．这表明在解释资产收益方面，流动性因素对公司规模和账面市值比具有替代作用．
英文摘要：
Based on the testing for stationary and co-integration of liquidity, firm size and book-to-market ratio, the paper studies the dynamic relationship among liquidity, firm size and book-to-market ratio by applying generalized impulse-response function. It is found that liquidity affects firm size and book-to-market ratio with a longer continuity than the effect of firm size and book-to-market ratio on liquidity. This indicates that liquidity can be a surrogate for firm size and book-to-market ratio in explaining asset returns.
同期刊论文项目
同项目期刊论文
期刊信息
位置：