| The Stock Market＇s Reaction to Firm＇s Growth and Stability in China |
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| 作者姓名： | XinYang FangLiu |
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| 作者单位： | InternationalTradeandFinanceDepartment,SchoolofEconomicsandManagement,TsinghuaUniversity,Beijing100084,China |
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| 摘 要： | This paper constructed portfolios according to the growth rates and their stability of firm‘s total stockholders‘ equity per share and net income per share, using all the firms‘ information of Shanghai A-share market. We found that the market exhibits some overreaction to the growth raie of firm‘s net income per share, and isn‘t sensitive to the stability of firm‘s growth rates.
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| 关 键 词： | 股票市场 企业成长 股东权益共享 纯利共享 代表性 过度反应 |
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