| 产权性质、投资者关注与股价崩盘风险 |
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| 引用本文：郭芳婷1，黄创霞2，陈 宪1，文凤华1.产权性质、投资者关注与股价崩盘风险[J].经济数学,2017,(4):97-105 |
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| 中文摘要:以投资者对上市公司的差异关注度作为切入点，研究投资者关注对股价崩盘风险的影响，并进一步考察公司产权性质对两者之间关系的影响.研究发现：随着投资者关注度的提高，上市公司股价崩盘风险显著降低；相比国有上市公司，投资者关注对股价崩盘风险的降低作用在民营上市公司中更加明显.本文深化了股价崩盘风险影响因素的研究，不仅有助于认识投资者关注对资本市场的影响，而且对防范股价崩盘风险和促进股市平稳有序发展都具有参考意义. |
| 中文关键词:投资者关注 股价崩盘风险 OLS回归 产权性质 |
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| Nature of Property Right, Investor Attention and Stock Price Crash Risk |
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| Abstract:Based on investor’s different attention on listed firms, we investigated the effect of investor attention on firm-specific stock price crash risk in China, and further explored how nature of property right of listed firms affected this relation. We have discovered that, with the increase of investor attention, the risk of the crash of the stock price will decrease. And compared with state-owned listed firms, investor attention on reducing stock price crash risk is more pronounced in private listed firms. This paper has deepened the study on the influencing factors of the stock price crash risk, which is not only helpful to recognize the impact of investor attention on capital markets, but also has important implications for preventing the risk of the crash of the stock price and promoting well organized development of the stock market in China. |
| keywords:investor attention stock price crash risk OLS regression nature of property right |
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