采用事件研究的方法对上市公司公布股权分置改革信息前后的股票异常收益率进行了实证分析。研究结果表明:市场对此反应积极,期间累计异常收益率为正,且市场反应程度与公司送股比例显著正相关,而与非流通股比例无关。 Using the method of event research, this paper empirically analyzes the abnormal return rate of the stock before and after the listed company announces the information of share-trading reform. The results show that: the market reacted positively to it, the accumulative abnormal return rate was positive during the period, and the degree of market reaction was significantly and positively correlated with the proportion of the company’s offering, but not with the proportion of non-tradable shares.