The Event Study of Listed Company's Private Placement Market Reaction

摘要

The choice of 158 Chinese listed companies as samples, research on the market response effect before and after listed company's private placement information released. In addition, differentiate between state-owned enterprises and private enterprises, made the conclusion that the wealth effect of the listed company's private placement and the accounting information quality year prior to the disclosure positively related. Finally, through the dynamic game and abnormal events, analyze of the effect of shock possibility.