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：
通过建立动态博弈模型分析股市摘牌的作用机理，实证研究“ST预警-摘牌”退市体系的市场认可程度。结果发现，虽然退市预警制度在短期内能较好地向市场传达风险信号，但在中长期里给予了投资者投机炒作的空间，这有助于解释为何以往理论研究与市场观察结果相悖；即便我国股市摘牌强度相对较低，但市场能识别摘牌强度的信号并对其做出显著反应，摘牌起到了“杀鸡儆猴”的威慑作用。
英文摘要：
This paper builds a dynamic game model to analyze the mechanism of delisting, and conducts an empirical study on the public acceptance of special treatment and delisting system. The empirical analysis shows that although the special treatment can release the delisting risk in the short term, it encourages speculation in the medium and long term. This can explain the difference between the theoretical research and market watch. Despite the inefficient delisting system, the market can identify the delisting signal and make significant reactions, so delisting can act as a deterrent.
同期刊论文项目
同项目期刊论文
Health care expenditure and GDP in African countries: evidence from semiparametric estimation with p
Consumption and portfolio rules for sophisticated individuals with stochastic quasi-hyperbolic disco
Democracy, financial openness and global carbon dioxide emissions: Heterogeneity across existing emi
Working Capital Management, Corporate Performance, and Strategic Choices of the Wholesale and Retail
Relationship between Strategic Risk and Return based on Ordinal Space: Panel Data Analysis on the Ch
Random matrix theory analysis of cross-correlations in the US stock market: Evidence from Pearson&am
Hyperbolic discounting predicts subadditive discounting for sophisticated and partially naive agents
A decision engineering method to identify the competitive effects of working capital: a neural netwo
Statistical Properties of the Foreign Exchange Network at Different Time Scales: Evidence from Detre
GBOM-oriented management of production disruption risk and optimization of supply chain construction
Oil price and stock market in China: A section analysis using panel cointegration with multiple brea
Learning, Pricing, Timing and Hedging of the Option to Invest for Perpetual Cash Flows with Idiosync
A New Method for Setting Futures Portfolios’ Maintenance Margins: Evidence from Chinese Commodity Fu
The expected discounted penalty function for two classes of risk processes perturbed by diffusion wi
Cross-correlations between WTI crude oil market and U.S. stock market: A perspective from econophysi
Utility-Based Pricing, Timing and Hedging of an American Call Option under an Incomplete Market with
Almost Everywhere Convergence of Riesz Means Related to Schrodinger Operator with Constan Magnetic F
Correlation structure and dynamics of international real estate securities markets: A network perspe
Optimal Proportional Reinsurance and Investment Problem with Constraints on Risk Control in a Genera
On the expected discounted penalty function for the classic risk model with potentially delayed clai
期刊信息
位置：