公司规模越大,则股票的累计超额收益率越大;
高收益公司债券的超额收益率从2009年初的16%点多下跌到不到6点。
The spread (excess interest rate) on high-yield corporate bonds has fallen from more than 16 percentage points at the start of 2009 to less than six points.
国外有研究表明,控制权转移能给目标公司股东带来20%左右的超额收益率。
Research abroad shows that the turnover of a firm's control right can bring about 20% abnormal excess return rate to the Stockholders of the target firm.
尽管零截距的假设被拒绝,但对各个组合的超额收益率贡献一致,不存在系统性差异。
Although the zero-intercept assumption is rejected, they don't make contributions to the difference in return spread.
研究发现在股票更名前后存在超常交易量和超额收益率,市场对更名事件存在过度反应。
The abnormal trading volume and returns around the period of the rename of the stock and the overreaction of the market on the rename of the stock are found.
而在长期采用动量策略,其年化超额收益率虽然较低,但也显著为正,并维持在5%左右。
In the long term, when choosing positive feedback strategy, we can obtain about 5% returns in excess of market average return.
对上海和深圳市场股价指数及其月度超额收益率的分析表明,我国股票市场的波动性较大;
The author analyzes the indexes of stock price and their monthly excessive return rate in Shanghai and Shenzhen Market. Relative high volatility exists in China's security market.
在市场反应上,大股东增持对股价影响显著,且超额收益率在公告日和公告日前一天达到最大。
On the market reaction, the holdings of major shareholders make significant effect on stock prices, and the excess returns reach maximum in the announcement the day before the announcement date.
最优策略对管理者的风险厌恶程度、资产波动率和流动性系数较为敏感,而对证券超额收益率敏感程度较低。
The strategy is sensitive to the manager′s risk tolerance, the asset volatility rate and the liquidity coefficient, but it is insensitive to the security excess return rate.
在时间序列上,论文采用新流动性比率指标(LDX)衡量流动性,检验了股票市场非流动性与股票超额收益率之间的关系。
The paper verified the relation between stock market illiquidity and stock excess return in time series by new liquidity measure (LDX).
日历效应是指证券市场出现的在某一特定时间进行交易可以获得超额收益率的现象,它的表现形式主要有星期效应和月份效应。
Calendar effects mean that market returns associate with the specific transaction date in stock market, there re two important forms: day of the week effects and month of the year effects.
在实证研究部分中,本文首先采用事件研究法分析了管理层收购事件窗口里的累积超额收益率,分析表明存在显著的超额累积收益率;
Among the empirical part, this paper adopt event study to analysis the cumulative abnormal return in the MBO event windows at first, the result is that there is remarkable cumulative abnormal return;
深圳市场股价指数本身的波动幅度要大于上海市场,而股价指数月度超额收益率的波动情况则相反;只有一部分投机者的投机收益为正;
The index of Shenzhen market is more volatile than Shanghai, monthly excessive return rate is opposite between two markets Only a part of speculator could gain positive retum.
大多数对风险的测量,例如股票市场波动或者公司和上升市场债券的收益率差(超额收益),都显示它很低。
Most measures of risk, such as stockmarket volatility or the spread (extra yield) on corporate and emerging-market bonds are low.
单变量检验结果表明,净资产收益率与股价超额收益具有显著的正价值相关性,审计意见类型则弱之;
Single-variable test shows that excess earning of stock price has a high positive correlation with return ratio on net assets, but a weak correlation with audit opinion type.
第二部分,考察盈余公告前的R平方和超额累计收益率的关系。
Using data around earnings announcement in Chinese market, this paper explores the topic about R square around earnings announcement.
IPO长期业绩的早期研究以算术平均的累计调整收益率为指标,发现我国新股存在着长期超额报酬。
By equal-weighted CAR, former researches on the long-run performance of Chinese IPOs have found that IPOs in Chinese stock exchanges outperform index in the three years after going public.
IPO长期业绩的早期研究以算术平均的累计调整收益率为指标,发现我国新股存在着长期超额报酬。
By equal-weighted CAR, former researches on the long-run performance of Chinese IPOs have found that IPOs in Chinese stock exchanges outperform index in the three years after going public.
应用推荐