Title :
Rational choice of the holistic listing model of the enterprise group: An empirical analysis based on Shanghai-Shenzhen a share data
Author :
Yun-long, He ; Yang, Gao
Author_Institution :
School of Economy and Management, Changsha University of Science & Technology, Changsha, China
Abstract :
In this paper, the listed companies which declared holistic listing between September 30th of 2003 and December 31st of 2009 have been chosen as research samples. And then, the different stock market reactions of group companies´ holistic listing based on the four holistic listing models proposed by State-owned Assets Supervision and Administration Commission (SASAC) have been analyzed empirically. The empirical result shows that the positive responses led by companies which listed holistically through private placements are stronger than those through other models. With this conclusion, rational choice for holistic listing models can be made more reasonably.
Keywords :
Companies; Corporate acquisitions; Educational institutions; Estimation; Gaussian distribution; Medical services; Stock markets; cumulative abnormal return; holistic listing model; market reaction;
Conference_Titel :
E -Business and E -Government (ICEE), 2011 International Conference on
Conference_Location :
Shanghai, China
Print_ISBN :
978-1-4244-8691-5
DOI :
10.1109/ICEBEG.2011.5881560
