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2014年至2016年期间,上交所针对上市公司的停牌问题,分别发布了三项规定,房地产上市公司的停牌时间长短影响企业的盈利吗?本文运用修正的JONES模型,研究2011年至2014年期间A股房地产企业587个样本数,得出:房地产上市公司停牌时间与公司的盈利呈显著负相关,即停牌时间越长,房地产上市公司的盈利则越低。本文的研究贡献表现如下两方面:一是从停牌时间长短研究我国停牌制度的作用;二是研究停牌时间长短和盈利之间的关系,进一步验证了近期交易所发布的相关停牌制度,为相关机构和部门提供一定的参考意见和建议。
During the period from 2014 to 2016, the SSE issued three separate regulations respectively on the suspension of listed companies. How long the suspension of real estate listed companies affects the profitability of their enterprises? This paper uses a revised JONES model to study the relationship between A Real estate enterprises 587 samples, come to: real estate listed companies suspension time and the company’s earnings was significantly negative correlation, that suspension of the longer, the lower the profitability of real estate listed companies. The research contributions of this paper are as follows: First, we study the role of the suspension system in China from the length of suspension; second, study the relationship between the length of suspension and the profit, and further verify the relevant suspension system issued by the recent exchange, And departments to provide some reference comments and suggestions.