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本文献探讨了“业绩预告”与股价崩盘之间的关系。研究结果表示,“坏消息”类型业绩预告与未来股价崩盘风险负相关,“好消息”类型业绩预告与未来股价崩盘风险正相关。本研究有利于投资者认识股价崩盘的影响因素,同时创新了“业绩预告”的研究视角,为信息披露制度的完善和发展提供了实证依据,为如何降低我国股价崩盘风险提供了理论和现实意义。
This article explores the relationship between “performance forecast” and the stock price crash. The result of the study shows that the performance forecast of “bad news” type is negatively correlated with the future stock price crash risk, and the forecast of “good news” type is positively correlated with the risk of future stock price crash. This study is conducive to investors to understand the factors that influence the stock price crash, at the same time, it innovates the research perspective of “performance forecast”, provides an empirical evidence for the improvement and development of the information disclosure system, and provides a theoretical and theoretical basis for how to reduce the risk of the stock price crash in our country. Realistic meaning.