期刊文献+

行业集中度对A股上市公司价值的影响 被引量:1

下载PDF
导出
摘要 选取2006年到2017年我国全部上市公司数据,依照申万2014版行业分类标准把其分为104个行业。首先,将104个行业按照HHI大小分为六组,然后对这六组进行为期十年的定期定额投资,以定投效果衡量公司价值增长幅度的大小,研究发现行业集中度与公司价值增长幅度是一个'倒U型'的关系。接着,通过测算技术投入比率,发现行业集中度通过影响公司的创新行为进而影响公司价值。
出处 《时代金融》 2019年第27期49-50,共2页 Times Finance
基金 全国商科教育“十三五”规划2018年度课题立项的阶段性成果,项目编号:SKJYKT-185
  • 相关文献

参考文献1

二级参考文献21

  • 1Bain, J. S. , 1951, "Relation of Profit Rate to Industry Concentration: American Manufacturing, 1936 - 1940 " Quarterly Journal of Economics, 65 (3), pp. 293 - 324. 被引量:1
  • 2Bain, J. S. , 1954, "Economies of Scale, Concentration and the Condition of Entry in Twenty Manufacturing Industries " American Economic Review, 44(1) , pp. 15 -39. 被引量:1
  • 3Campbell, J. Y. , and R. J. Shiller, 1988, "The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors," Review of Financial Studies, 1 ( 3 ) , pp. 195 - 228. 被引量:1
  • 4Cohen, R. B. , P. Christopher and T. Vuolteenaho, 2003, "The Value Spread," Journal of Finance, 58 ( 2 ) , pp. 609 - 641. 被引量:1
  • 5Cooper, I. , 2006, "Asset Pricing Implications of Nonconvex Adjustment Costs and Irreversibility," Journal of Finance, 61 ( 1 ) , pp. 139 - 170. 被引量:1
  • 6Cowling, K. and M. Waterson, 1976, "Price Cost Margins and Market Structure," Economica, 43 (171), pp. 267 -274. 被引量:1
  • 7Daniel, K , M. Grinblatt, S. Titman and R. Wermers, 1997, "Measuring Mutual Fund Performance with Characteristics-Based Benchmarks," Journal of Finance, 52(3) , pp. 1035 - 1058. 被引量:1
  • 8Demsets H. , 1973, "Industry Structure, Market Rivalry, and Public Policy," Journal of Law and Economics, 16 ( 1 ), pp. 1 -9. 被引量:1
  • 9Fama, E. F. , 1990, "Stock Returns, Expected Returns, and Real Activity," Journal of Finance, 45 (4), pp. 1089 - 1108. 被引量:1
  • 10Fama, E.F. and K. R. French, 1995, "Size and Book-to-Market Factors in Earnings and Returns," Journal of Finance, 50( 1 ) , pp. 131 -155. 被引量:1

共引文献15

同被引文献3

引证文献1

相关作者

内容加载中请稍等...

相关机构

内容加载中请稍等...

相关主题

内容加载中请稍等...

浏览历史

内容加载中请稍等...
;
使用帮助 返回顶部