Research on Market Reaction to Uncapped Announcement of Distressed Firms-Experience Evidence from Chinese ListedCompanies

摘要：

This paper selects Special Treatment Companies from 2003 to 2007 as samples, which were uncapped by the end of 2009, adopts excess return method and analyses the market reaction to the uncapped announcement in detail. Studies show that investors make positive reaction whatever to the whole samples or to the subsection samples which are divided by years, industries, securities. This indicates that the uncapped events can increase short-term wealth for shareholders.

关键词： Financial distress Uncapped announcement Market reaction Research

作者: ZHAO Liqiong

作者单位: School of Accounting, Hebei University of Economics and Business, Shijiazhuang, Hebei, P.R. China, 050061

会议类型: 国际会议

会议名称: 2011 International Symposium --Accounting Information System and Corporate Governance(2011会计信息系统与公司治理国际研讨会)

会议地点: 石家庄

会议语种:英文

页码: 100-105

在线出版日期: 2011-10-15（万方平台首次上网日期，不代表论文的发表时间）