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采用事件研究法对浙江省41家上市公司股权分置改革效应进行实证研究,发现样本公司股票在股权分置改革事件窗口存在正的超常收益率,公司的短期业绩、价值都有所提升,股权分置改革前非流通股占总股本比例较高的公司股改效果较非流通股占总股本比例较低的公司更好。
Empirical study of the effects of the share-trading reform of 41 listed companies in Zhejiang Province using the case study shows that there is a positive abnormal return rate of the sample companies in the window of share-trading reform. The company’s short-term performance and value have been improved. Before the reform, non-tradable shares of higher proportion of the total share capital of the company reform better than the proportion of non-tradable shares of the total share capital of the company is better.