摘要
按照我国对证券市场的有关规定,上市公司必须披露中期财务报告。本文从实证检验的角度来考察中期财务报告对我国证券市场的影响。研究表明,中期财务报告对盈余数据的披露具有一定的信息含量。研究结果同时也表明,投资者对中期财务报告的独立观还缺乏深入的理解。有关方面应采取措施,引导投资者正确理解中期财务报告的信息含量,提高投资者对中期财务报告的解读能力。
According to the stipulations of our stock market, listed company should issue its interim financial report periodically. This issue is mainly about the interim financial report of listed company and is a study of the relationship between interim financial earnings and stock price behavior. Though studying the market price reaction of interim accounting earnings, it can be concluded that the interim accounting earning is decision useful in China's securities market. As a by-product of this study, it can be found that in our stock market the investors' reaction to interim financial report is more like integral theory, but not discrete theory.
出处
《山东农业大学学报(社会科学版)》
2004年第4期53-57,共5页
Journal of Shandong Agricultural University(Social Science Edition)
关键词
上市公司
证券市场
中期财务报告
实证研究
listed company,securities market,interim financial report,positive study