摘要
文章基于科创板试点“注册制”,从证券分析师行为的视角,分析设立科创板给上市公司信息环境带来的影响。选取2019年7月22日至2020年8月31日A股市场的截面数据,将科创板与创业板市场的上市公司进行对比分析。研究发现,与创业板上市公司相比,科创板上市公司的分析师跟踪数量较多,分析师盈余预测精确度较高,说明注册制下公司信息披露质量较高,科创板上市公司信息环境较优。
Based on the pilot"registration system"of the Science and Technology Innovation Board,the article analyzes the impact of the establishment of the Science and Technology Innovation Board on the information environment of listed companies from the perspective of the behavior of securities analysts.Select the cross-sectional data of the A-share market from July 22,2019 to August 31,2020,and compare and analyze the listed companies on the Sci-tech Innovation Board and the ChiNext market.The study found that compared with the companies listed on the ChiNext,the number of analysts tracked by the listed companies on the Sci-tech Innovation Board is larger,and the accuracy of analyst earnings forecasts is higher.It shows that under the registration system,the quality of company information disclosure is relatively high,and the information environment of listed companies on the Science and Technology Innovation Board is relatively good.
作者
王俊懿
段江娇
WANG Jun-yi;DUAN Jiang-jiao
出处
《生产力研究》
2021年第8期124-127,I0002,共5页
Productivity Research
