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国内外关于公司价值的研究主要关注公司价值的影响因素与衡量标准,考察公司价值时间效应的研究较少。本文以2007-2014年我国沪深A股上市公司半年度数据为样本数据,研究上市公司价值随时间变化的规律。实验结果表明:中国上市公司价值随时间呈现倒U型曲线特征。
The domestic and foreign research on the company’s value mainly focuses on the influencing factors and measurement standards of the company’s value, and there is little research on the time effect of the company’s value. This paper takes the semi-annual data of China’s A-share companies in Shanghai and Shenzhen from 2007 to 2014 as sample data to study the law of the value of listed companies changing with time. The experimental results show that the value of listed companies in China presents inverted U-shaped curve with time.