An Empirical Analysis Of The Effect Of Stock Pledge On The Stock Price Of Listed Companies

An empirical study on the impact of equity pledge on the stock price of listed companies.The highlight of this paper is mainly reflected in,this paper in the process the study will be mainly research framework and model was constructed based on the event study method,then further in the process of binding events analysis,of equity pledge behavior on the company's earnings rate of empirical analysis.Where the process event analysis.This paper focuses on the group of 100 listed companies,through the information collected the equity pledge announcement,the amount of equity pledge statistics,and further on the listed company equity pledge before and after the rate of return of statistics,and further expand the empirical analysis,corporate earnings rate affect the conclusions are finally obtained.Based on conclusions about the influence,and further puts forward corresponding empirical analysis conclusion,mainly in the following two conclusions: 1,equity pledge events for corporate earnings have significant influence,of which most obvious period mainly reflected within five days after the incident,followed by five days before the occurrence of events.2,the equity pledge rate,the proportion of equity pledge shares and the proportion of large shareholders equity pledge listed companies have a certain impact on the CAR of the listed companies,but its impact is not significant.The conclusion of this paper will help investors,banks and listed companies make investment decisions.