EMPIRICAL RESEARCH ON PERFROMANCE CHANGE AROUND IPO OF LIAONING PROVINCE LISTED COMPANY AND THE EFFECT FACTORS

摘要

We analyze the Performance Change around IPO of Liaoning Province Listed companies by Panel Analytical Method, and the conclusion is that after IPO the performance of listed companies descends. In order to ensure the dependability of conclusion, we put up stability test by nonparametric MNR method; we seek the effect factors further to explain the change by recessional analysis methods and we find that industry, stock ownership structure and the year of going public have prominent effect to the performance descending. At last, we approach the Liaoning province listed companies with developing suggestion according to the research conclusions.