股权分置改革对钢铁行业上市公司财务绩效影响实证分析  

EMPIRICAL ANALYSIS ON THE IMPACT OF NON-TRADABLE SHARES REFORM UPON THE FINACIAL PERFORMANCE IN THE STEEL INDUSTRY LISTED COMPANIES

作　　者：贺宝成[1] 陈良[1] 祝福云[1] 

机构地区：[1]陕西科技大学管理学院,陕西西安710021

出　　处：《陕西科技大学学报（自然科学版）》2010年第6期128-132,共5页Journal of Shaanxi University of Science & Technology

摘　　要：以股权分置改革为切入点,通过抽取32家上市公司样本,采用配对样本T检验技术,重点研究了这一重大变革对钢铁行业上市公司财务绩效的影响问题.分析表明:短期内,股权分置改革并未显著提升钢铁行业上市公司盈利、营运、偿债和发展能力,未对其财务绩效的改进产生积极影响.这一结论与一些学者观点差异较大,但对科学看待股权分置改革,进行理性投资应有一定的借鉴意义.Basing on the non-tradable shares reform,this paper samples the 32 steel industry listed companies,uses the paired samples test method to analysis the impact of non-tradable shares reform upon the finacial performance.The study proves that the reform did not significantly improve the profitability,operations,debt and development capacity of the listed companies in the steel industry,and did not improve their financial performance positively.This conclusion quite different from some scholars,but it may be useful for the investors to analysis on reform scientifically and invest in stocks rationally.

关 键 词：股权分置改革 钢铁行业 财务绩效 配对检验 

分 类 号：F224.0[经济管理—国民经济]