On Market Reaction and Performance Influence by Changing Committed Investment Project
With method of event study, this paper makes empirical analysis on the market reaction to the fund raising and the change of its committed investment project by agricultural listed companies. It is found that the cumulative average abnormal retum during the window of the announcement of the change of committed investment project of agricultural listed companies is statistically significant, which suggests that there is positive market reaction to the change; while the influence of the change on the performance of agricultural listed companies is significantly positive in the short term. Meanwhile, the paper answers some criticism of the so-called changing its nature and not attending to the duties on agricultural listed companies.
change of committed investment project of raised fund agricultural listed company market reaction
Zou Caifen
School of Economic & Management,Wuhan University of Science and Engieering,Wuhan,430073
国际会议
International Symposium on Financial Engineering and Risk Management(2008年金融工程与风险管理)
上海
英文
268-272
2008-06-01（万方平台首次上网日期，不代表论文的发表时间）