TY - GEN
T1 - Valuation of restricted shares
T2 - 2012 5th International Conference on Business Intelligence and Financial Engineering, BIFE 2012
AU - Zhao, Jinlou
AU - Cheng, Yifei
AU - Liu, Lanlan
PY - 2012
Y1 - 2012
N2 - In order to test and evaluate the influence of split share structure reform, an event study model is used in this paper. By introducing the unique characteristics of Chinese split share structure and the reform on 29th April, 2005, the CAR (cumulative abnormal returns) model can rationally explain the positive and negative effects of the reform around and after announcement. This paper provides the theoretical foundation of possible influence of the reform, identifying the potential fundamental factors. The role of structure ownership (state and institutional investors) in corporate governance by examining the differences in the payment of compensation would be the further study.
AB - In order to test and evaluate the influence of split share structure reform, an event study model is used in this paper. By introducing the unique characteristics of Chinese split share structure and the reform on 29th April, 2005, the CAR (cumulative abnormal returns) model can rationally explain the positive and negative effects of the reform around and after announcement. This paper provides the theoretical foundation of possible influence of the reform, identifying the potential fundamental factors. The role of structure ownership (state and institutional investors) in corporate governance by examining the differences in the payment of compensation would be the further study.
KW - Event study
KW - Privatization
KW - Split share structre
UR - http://www.scopus.com/inward/record.url?scp=84868151803&partnerID=8YFLogxK
U2 - 10.1109/BIFE.2012.84
DO - 10.1109/BIFE.2012.84
M3 - Conference Proceeding
AN - SCOPUS:84868151803
SN - 9780769547503
T3 - Proceedings of the 2012 5th International Conference on Business Intelligence and Financial Engineering, BIFE 2012
SP - 370
EP - 373
BT - Proceedings of the 2012 5th International Conference on Business Intelligence and Financial Engineering, BIFE 2012
Y2 - 18 August 2012 through 21 August 2012
ER -