摘要
在对我国2010年中小板上市公司披露内部控制自我评价报告披露情况进行分析的基础上,采用事件研究法和多元回归分析法就我国证券市场对内部控制自评报告披露的市场反应进行实证研究,结果发现:上市公司内部控制自我评价报告具有信息含量,投资者能够利用这些信息获得超额收益;我国证券市场能够有效反映已公开的信息,进而消除市场套利行为,这在一定程度上间接证明了我国证券市场价格中包含的信息越多,市场就越有效;盈利能力越强、成长性越好的公司越愿意披露内部控制自评报告。
This paper analyzes the small and medium-sized enterprises(SMES) board which discloses internal control self-assessment(CSA) reports in 2010,and then studies stock market and influence factors by using event study method and multiple regression analysis.The results indicate that: CSA reports are informative,from which investors can obtain excess returns;China's securities market can effectively reflect public information,and thus eliminating the market arbitrage,which in a certain extent,indirectly proves that the more information included in the price of China's securities market,the more effective the market;the more profitable and the stronger companies are more willing to disclose internal control self-assessment report.
出处
《南京审计学院学报》
2013年第1期61-67,共7页
journal of nanjing audit university
关键词
内部控制信息披露
自我评价报告披露
SOX法案
股票价格
CAR
累计非正常报酬率
information disclosure of internal control
internal control self-assessment disclosure
the SOX Act
stock price
CAR
cumulative abnormal return rate
