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文章筛选2005至2009年被动发布财务报表重述公告的89家上市公司进行研究,从财务重述公告本身和公司基本面状况两个层面对股价波动的因素予以探讨,发现在5%水平上,公司偿债能力、未来发展能力与股价波动显著负相关;在1%显著性水平上,财务重述年限、现金流量能力对股价会产生正向影响,而股东获利能力与股价波动显著负相关。
Article screening of passive listed companies from 2005 to 2009 restatements of the financial statements of 89 listed companies to study the financial resumption from the notice itself and the fundamentals of the company’s fundamentals from two aspects of the stock price volatility of the factors to be found at the 5% level, The solvency and future development ability of the company are significantly and negatively correlated with the stock price volatility; at 1% significance level, the financial restatement period and the cash flow ability have a positive impact on the stock price, while the shareholder profitability has a significant negative correlation with the stock price volatility .